Konan Technology (Korea) Market Value
| 402030 Stock | 18,560 340.00 1.80% |
| Symbol | Konan |
Konan Technology '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 Konan Technology'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 Konan Technology.
| 10/17/2024 |
| 11/16/2024 |
If you would invest 0.00 in Konan Technology on October 17, 2024 and sell it all today you would earn a total of 0.00 from holding Konan Technology or generate 0.0% return on investment in Konan Technology over 30 days. Konan Technology is related to or competes with Busan Industrial, UNISEM, Finebesteel, Fine Besteel, Hanwha Aerospace, and Hana Technology. More
Konan Technology 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 Konan Technology'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 Konan Technology upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.8 | |||
| Information Ratio | 0.117 | |||
| Maximum Drawdown | 21.43 | |||
| Value At Risk | (4.44) | |||
| Potential Upside | 6.79 |
Konan Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Konan Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Konan Technology's standard deviation. In reality, there are many statistical measures that can use Konan Technology historical prices to predict the future Konan Technology's volatility.| Risk Adjusted Performance | 0.1176 | |||
| Jensen Alpha | 0.3902 | |||
| Total Risk Alpha | 0.054 | |||
| Sortino Ratio | 0.1576 | |||
| Treynor Ratio | 0.3527 |
Konan Technology Backtested Returns
Konan Technology appears to be very steady, given 3 months investment horizon. Konan Technology has Sharpe Ratio of 0.14, which conveys that the firm had a 0.14% return per unit of risk over the last 3 months. By analyzing Konan Technology's technical indicators, you can evaluate if the expected return of 0.54% is justified by implied risk. Please exercise Konan Technology's Risk Adjusted Performance of 0.1176, mean deviation of 2.84, and Downside Deviation of 2.8 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Konan Technology holds a performance score of 11. The company secures a Beta (Market Risk) of 1.52, which conveys a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Konan Technology will likely underperform. Please check Konan Technology's downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Konan Technology's current price movements will revert.
Auto-correlation | -0.91 |
Near perfect reversele predictability
Konan Technology has near perfect reversele predictability. Overlapping area represents the amount of predictability between Konan Technology time series from 17th of October 2024 to 1st of November 2024 and 1st of November 2024 to 16th 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 Konan Technology price movement. The serial correlation of -0.91 indicates that approximately 91.0% of current Konan Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.91 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 3.2 M |
Konan Technology lagged returns against current returns
Autocorrelation, which is Konan Technology 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 Konan Technology's stock expected returns. We can calculate the autocorrelation of Konan Technology returns to help us make a trade decision. For example, suppose you find that Konan Technology 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 |
Konan Technology 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 Konan Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Konan Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Konan Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Konan Technology Lagged Returns
When evaluating Konan Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Konan Technology stock have on its future price. Konan Technology 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, Konan Technology autocorrelation shows the relationship between Konan Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Konan Technology.
Regressed Prices |
| Timeline |
Pair Trading with Konan Technology
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 Konan Technology 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 Konan Technology will appreciate offsetting losses from the drop in the long position's value.Moving against Konan Stock
| 0.55 | 005935 | Samsung Electronics | PairCorr |
| 0.53 | 194480 | Devsisters corporation | PairCorr |
| 0.52 | 005930 | Samsung Electronics | PairCorr |
| 0.52 | 005380 | Hyundai Motor | PairCorr |
| 0.47 | 347860 | Alchera | PairCorr |
The ability to find closely correlated positions to Konan Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Konan Technology 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 Konan Technology - 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 Konan Technology to buy it.
The correlation of Konan Technology 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 Konan Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Konan Technology 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 Konan Technology 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 Konan Stock
Konan Technology financial ratios help investors to determine whether Konan 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 Konan with respect to the benefits of owning Konan Technology security.