Tway Air (Korea) Market Value
| 091810 Stock | 3,010 10.00 0.33% |
| Symbol | Tway |
Tway Air '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 Tway Air'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 Tway Air.
| 10/30/2024 |
| 11/29/2024 |
Tway Air 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 Tway Air'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 Tway Air Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.02 | |||
| Information Ratio | 0.0445 | |||
| Maximum Drawdown | 26.84 | |||
| Value At Risk | (7.82) | |||
| Potential Upside | 7.78 |
Tway Air Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tway Air's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tway Air's standard deviation. In reality, there are many statistical measures that can use Tway Air historical prices to predict the future Tway Air's volatility.| Risk Adjusted Performance | 0.0631 | |||
| Jensen Alpha | 0.2844 | |||
| Total Risk Alpha | (0.38) | |||
| Sortino Ratio | 0.0514 | |||
| Treynor Ratio | 0.9829 |
Tway Air Backtested Returns
Tway Air appears to be very steady, given 3 months investment horizon. Tway Air owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0433, which indicates the firm had a 0.0433% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Tway Air Co, which you can use to evaluate the volatility of the company. Please review Tway Air's Coefficient Of Variation of 1399.86, risk adjusted performance of 0.0631, and Semi Deviation of 3.69 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Tway Air holds a performance score of 3. The entity has a beta of 0.33, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Tway Air's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tway Air is expected to be smaller as well. Please check Tway Air's semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to make a quick decision on whether Tway Air's existing price patterns will revert.
Auto-correlation | -0.65 |
Very good reverse predictability
Tway Air Co has very good reverse predictability. Overlapping area represents the amount of predictability between Tway Air time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th of November 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 Tway Air price movement. The serial correlation of -0.65 indicates that roughly 65.0% of current Tway Air price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.65 | |
| Spearman Rank Test | -0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 3831.82 |
Tway Air lagged returns against current returns
Autocorrelation, which is Tway Air 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 Tway Air's stock expected returns. We can calculate the autocorrelation of Tway Air returns to help us make a trade decision. For example, suppose you find that Tway Air 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 |
Tway Air 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 Tway Air stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tway Air stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tway Air stock over time.
Current vs Lagged Prices |
| Timeline |
Tway Air Lagged Returns
When evaluating Tway Air's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tway Air stock have on its future price. Tway Air 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, Tway Air autocorrelation shows the relationship between Tway Air stock current value and its past values and can show if there is a momentum factor associated with investing in Tway Air Co.
Regressed Prices |
| Timeline |
Pair Trading with Tway Air
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 Tway Air 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 Tway Air will appreciate offsetting losses from the drop in the long position's value.Moving against Tway Stock
The ability to find closely correlated positions to Tway Air could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tway Air 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 Tway Air - 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 Tway Air Co to buy it.
The correlation of Tway Air 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 Tway Air moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tway Air 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 Tway Air 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 Tway Stock
Tway Air financial ratios help investors to determine whether Tway 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 Tway with respect to the benefits of owning Tway Air security.