KODEX Bond (Korea) Market Value
| 437080 Etf | 100,225 110.00 0.11% |
| Symbol | KODEX |
KODEX Bond '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 Bond'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 Bond.
| 01/21/2023 |
| 01/10/2025 |
If you would invest 0.00 in KODEX Bond on January 21, 2023 and sell it all today you would earn a total of 0.00 from holding KODEX Bond SRI or generate 0.0% return on investment in KODEX Bond over 720 days.
KODEX Bond 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 Bond'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 Bond SRI upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.27) | |||
| Maximum Drawdown | 1.43 | |||
| Value At Risk | (0.64) | |||
| Potential Upside | 0.2736 |
KODEX Bond Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for KODEX Bond's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as KODEX Bond's standard deviation. In reality, there are many statistical measures that can use KODEX Bond historical prices to predict the future KODEX Bond's volatility.| Risk Adjusted Performance | (0.16) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.07) | |||
| Treynor Ratio | 1.37 |
KODEX Bond SRI Backtested Returns
KODEX Bond SRI has Sharpe Ratio of -0.12, which conveys that the entity had a -0.12% return per unit of return volatility over the last 3 months. KODEX Bond exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify KODEX Bond's Mean Deviation of 0.2191, risk adjusted performance of (0.16), and Standard Deviation of 0.2884 to check out the risk estimate we provide. The etf secures a Beta (Market Risk) of -0.0449, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning KODEX Bond are expected to decrease at a much lower rate. During the bear market, KODEX Bond is likely to outperform the market.
Auto-correlation | -0.39 |
Poor reverse predictability
KODEX Bond SRI has poor reverse predictability. Overlapping area represents the amount of predictability between KODEX Bond time series from 21st of January 2023 to 16th of January 2024 and 16th of January 2024 to 10th 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 Bond SRI price movement. The serial correlation of -0.39 indicates that just about 39.0% of current KODEX Bond price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.39 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 3.1 M |
KODEX Bond SRI lagged returns against current returns
Autocorrelation, which is KODEX Bond 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 Bond's etf expected returns. We can calculate the autocorrelation of KODEX Bond returns to help us make a trade decision. For example, suppose you find that KODEX Bond 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 Bond 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 Bond etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if KODEX Bond etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in KODEX Bond etf over time.
Current vs Lagged Prices |
| Timeline |
KODEX Bond Lagged Returns
When evaluating KODEX Bond's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of KODEX Bond etf have on its future price. KODEX Bond 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 Bond autocorrelation shows the relationship between KODEX Bond etf current value and its past values and can show if there is a momentum factor associated with investing in KODEX Bond SRI.
Regressed Prices |
| Timeline |
Pair Trading with KODEX Bond
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 Bond 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 Bond will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to KODEX Bond 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 Bond 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 Bond - 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 Bond SRI to buy it.
The correlation of KODEX Bond 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 Bond moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if KODEX Bond SRI 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 Bond 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.