KODEX KRX (Korea) Market Value
| 404260 Etf | 9,460 100.00 1.07% |
| Symbol | KODEX |
KODEX KRX '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 KODEX KRX's etf 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 KODEX KRX.
| 12/26/2024 |
| 01/25/2025 |
If you would invest 0.00 in KODEX KRX on December 26, 2024 and sell it all today you would earn a total of 0.00 from holding KODEX KRX Climate or generate 0.0% return on investment in KODEX KRX over 30 days.
KODEX KRX 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 KODEX KRX's etf 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 KODEX KRX Climate upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 6.61 | |||
| Value At Risk | (3.19) | |||
| Potential Upside | 2.43 |
KODEX KRX Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for KODEX KRX's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as KODEX KRX's standard deviation. In reality, there are many statistical measures that can use KODEX KRX historical prices to predict the future KODEX KRX's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.21) | |||
| Treynor Ratio | 0.6624 |
KODEX KRX Climate Backtested Returns
KODEX KRX Climate has Sharpe Ratio of -0.0874, which conveys that the entity had a -0.0874 % return per unit of return volatility over the last 3 months. KODEX KRX exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify KODEX KRX's Standard Deviation of 1.71, risk adjusted performance of (0.05), and Mean Deviation of 1.31 to check out the risk estimate we provide. The etf secures a Beta (Market Risk) of -0.18, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning KODEX KRX are expected to decrease at a much lower rate. During the bear market, KODEX KRX is likely to outperform the market.
Auto-correlation | 0.46 |
Average predictability
KODEX KRX Climate has average predictability. Overlapping area represents the amount of predictability between KODEX KRX time series from 26th of December 2024 to 10th of January 2025 and 10th of January 2025 to 25th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of KODEX KRX Climate price movement. The serial correlation of 0.46 indicates that about 46.0% of current KODEX KRX price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.46 | |
| Spearman Rank Test | 0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 10.7 K |
KODEX KRX Climate lagged returns against current returns
Autocorrelation, which is KODEX KRX etf'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 KODEX KRX's etf expected returns. We can calculate the autocorrelation of KODEX KRX returns to help us make a trade decision. For example, suppose you find that KODEX KRX has exhibited high autocorrelation historically, and you observe that the etf 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 |
KODEX KRX 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 KODEX KRX etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if KODEX KRX etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in KODEX KRX etf over time.
Current vs Lagged Prices |
| Timeline |
KODEX KRX Lagged Returns
When evaluating KODEX KRX's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of KODEX KRX etf have on its future price. KODEX KRX 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, KODEX KRX autocorrelation shows the relationship between KODEX KRX etf current value and its past values and can show if there is a momentum factor associated with investing in KODEX KRX Climate.
Regressed Prices |
| Timeline |
Pair Trading with KODEX KRX
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 KODEX KRX 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 KODEX KRX will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to KODEX KRX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KODEX KRX 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 KODEX KRX - 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 KODEX KRX Climate to buy it.
The correlation of KODEX KRX 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 KODEX KRX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if KODEX KRX Climate 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 KODEX KRX 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.