INNOX Advanced (Korea) Market Value
| 272290 Stock | 21,450 800.00 3.60% |
| Symbol | INNOX |
INNOX Advanced 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to INNOX Advanced's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of INNOX Advanced.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in INNOX Advanced on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding INNOX Advanced Materials or generate 0.0% return on investment in INNOX Advanced over 30 days. INNOX Advanced is related to or competes with SK Hynix, LX Semicon, People Technology, SIMMTECH, and SS TECH. More
INNOX Advanced Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure INNOX Advanced's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess INNOX Advanced Materials upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 12.27 | |||
| Value At Risk | (3.98) | |||
| Potential Upside | 3.42 |
INNOX Advanced Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for INNOX Advanced's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as INNOX Advanced's standard deviation. In reality, there are many statistical measures that can use INNOX Advanced historical prices to predict the future INNOX Advanced's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.34) | |||
| Total Risk Alpha | (0.79) | |||
| Treynor Ratio | 0.9641 |
INNOX Advanced Materials Backtested Returns
INNOX Advanced Materials holds Efficiency (Sharpe) Ratio of -0.2, which attests that the entity had a -0.2% return per unit of volatility over the last 3 months. INNOX Advanced Materials exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out INNOX Advanced's market risk adjusted performance of 0.9741, and Risk Adjusted Performance of (0.12) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.41, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning INNOX Advanced are expected to decrease at a much lower rate. During the bear market, INNOX Advanced is likely to outperform the market. At this point, INNOX Advanced Materials has a negative expected return of -0.45%. Please make sure to check out INNOX Advanced's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if INNOX Advanced Materials performance from the past will be repeated at future time.
Auto-correlation | 0.28 |
Poor predictability
INNOX Advanced Materials has poor predictability. Overlapping area represents the amount of predictability between INNOX Advanced time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of INNOX Advanced Materials price movement. The serial correlation of 0.28 indicates that nearly 28.0% of current INNOX Advanced price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.28 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 138.8 K |
INNOX Advanced Materials lagged returns against current returns
Autocorrelation, which is INNOX Advanced stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting INNOX Advanced's stock expected returns. We can calculate the autocorrelation of INNOX Advanced returns to help us make a trade decision. For example, suppose you find that INNOX Advanced has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
INNOX Advanced regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If INNOX Advanced stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if INNOX Advanced stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in INNOX Advanced stock over time.
Current vs Lagged Prices |
| Timeline |
INNOX Advanced Lagged Returns
When evaluating INNOX Advanced's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of INNOX Advanced stock have on its future price. INNOX Advanced autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, INNOX Advanced autocorrelation shows the relationship between INNOX Advanced stock current value and its past values and can show if there is a momentum factor associated with investing in INNOX Advanced Materials.
Regressed Prices |
| Timeline |
Pair Trading with INNOX Advanced
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if INNOX Advanced position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in INNOX Advanced will appreciate offsetting losses from the drop in the long position's value.Moving together with INNOX Stock
| 0.84 | 108320 | LX Semicon | PairCorr |
| 0.9 | 064760 | Tokai Carbon Korea | PairCorr |
| 0.71 | 137400 | People Technology | PairCorr |
| 0.89 | 166090 | Hana Materials | PairCorr |
Moving against INNOX Stock
The ability to find closely correlated positions to INNOX Advanced could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace INNOX Advanced when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back INNOX Advanced - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling INNOX Advanced Materials to buy it.
The correlation of INNOX Advanced is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as INNOX Advanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if INNOX Advanced Materials moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for INNOX Advanced can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in INNOX Stock
INNOX Advanced financial ratios help investors to determine whether INNOX Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in INNOX with respect to the benefits of owning INNOX Advanced security.