Prestige Biologics (Korea) Market Value
| 334970 Stock | KRW 4,815 285.00 5.59% |
| Symbol | Prestige |
Prestige Biologics '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 Prestige Biologics' 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 Prestige Biologics.
| 12/30/2022 |
| 12/19/2024 |
If you would invest 0.00 in Prestige Biologics on December 30, 2022 and sell it all today you would earn a total of 0.00 from holding Prestige Biologics Co or generate 0.0% return on investment in Prestige Biologics over 720 days. Prestige Biologics is related to or competes with Samsung Biologics, SK Bioscience, Green Cross, MedPacto, ISU Abxis, and OliX PharmaceuticalsI. Prestige Biologics Co., Ltd. specializes in the development and production of biologic agents and biosimilars More
Prestige Biologics 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 Prestige Biologics' 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 Prestige Biologics Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 22.64 | |||
| Value At Risk | (6.33) | |||
| Potential Upside | 6.13 |
Prestige Biologics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Prestige Biologics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Prestige Biologics' standard deviation. In reality, there are many statistical measures that can use Prestige Biologics historical prices to predict the future Prestige Biologics' volatility.| Risk Adjusted Performance | 8.0E-4 | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.15) | |||
| Treynor Ratio | (0.51) |
Prestige Biologics Backtested Returns
Prestige Biologics maintains Sharpe Ratio (i.e., Efficiency) of -0.0801, which implies the firm had a -0.0801% return per unit of risk over the last 3 months. Prestige Biologics exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Prestige Biologics' Coefficient Of Variation of (10,948), variance of 17.66, and Risk Adjusted Performance of 8.0E-4 to confirm the risk estimate we provide. The company holds a Beta of 0.0945, which implies not very significant fluctuations relative to the market. As returns on the market increase, Prestige Biologics' returns are expected to increase less than the market. However, during the bear market, the loss of holding Prestige Biologics is expected to be smaller as well. At this point, Prestige Biologics has a negative expected return of -0.33%. Please make sure to check Prestige Biologics' coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Prestige Biologics performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.36 |
Below average predictability
Prestige Biologics Co has below average predictability. Overlapping area represents the amount of predictability between Prestige Biologics time series from 30th of December 2022 to 25th of December 2023 and 25th of December 2023 to 19th 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 Prestige Biologics price movement. The serial correlation of 0.36 indicates that just about 36.0% of current Prestige Biologics price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.36 | |
| Spearman Rank Test | 0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 830.3 K |
Prestige Biologics lagged returns against current returns
Autocorrelation, which is Prestige Biologics 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 Prestige Biologics' stock expected returns. We can calculate the autocorrelation of Prestige Biologics returns to help us make a trade decision. For example, suppose you find that Prestige Biologics 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 |
Prestige Biologics 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 Prestige Biologics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Prestige Biologics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Prestige Biologics stock over time.
Current vs Lagged Prices |
| Timeline |
Prestige Biologics Lagged Returns
When evaluating Prestige Biologics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Prestige Biologics stock have on its future price. Prestige Biologics 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, Prestige Biologics autocorrelation shows the relationship between Prestige Biologics stock current value and its past values and can show if there is a momentum factor associated with investing in Prestige Biologics Co.
Regressed Prices |
| Timeline |
Pair Trading with Prestige Biologics
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 Prestige Biologics 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 Prestige Biologics will appreciate offsetting losses from the drop in the long position's value.Moving together with Prestige Stock
| 0.65 | 207940 | Samsung Biologics | PairCorr |
| 0.88 | 326030 | Sk Biopharmaceuticals | PairCorr |
| 0.83 | 298380 | ABL Bio | PairCorr |
| 0.88 | 144510 | Green Cross Lab | PairCorr |
Moving against Prestige Stock
The ability to find closely correlated positions to Prestige Biologics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Prestige Biologics 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 Prestige Biologics - 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 Prestige Biologics Co to buy it.
The correlation of Prestige Biologics 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 Prestige Biologics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Prestige Biologics 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 Prestige Biologics 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 Prestige Stock
Prestige Biologics financial ratios help investors to determine whether Prestige 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 Prestige with respect to the benefits of owning Prestige Biologics security.