Dongkuk Steel (Korea) Market Value
| 001230 Stock | 7,490 50.00 0.67% |
| Symbol | Dongkuk |
Dongkuk Steel '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 Dongkuk Steel'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 Dongkuk Steel.
| 05/07/2023 |
| 11/27/2024 |
If you would invest 0.00 in Dongkuk Steel on May 7, 2023 and sell it all today you would earn a total of 0.00 from holding Dongkuk Steel Mill or generate 0.0% return on investment in Dongkuk Steel over 570 days. Dongkuk Steel is related to or competes with INtRON Biotechnology, Korean Drug, Vitzro Tech, CU Tech, Daejung Chemicals, POSCO M, and Green Cross. More
Dongkuk Steel 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 Dongkuk Steel'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 Dongkuk Steel Mill upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 5.6 | |||
| Value At Risk | (1.86) | |||
| Potential Upside | 1.4 |
Dongkuk Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Dongkuk Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Dongkuk Steel's standard deviation. In reality, there are many statistical measures that can use Dongkuk Steel historical prices to predict the future Dongkuk Steel's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.28) | |||
| Treynor Ratio | 1.77 |
Dongkuk Steel Mill Backtested Returns
Dongkuk Steel Mill secures Sharpe Ratio (or Efficiency) of -0.11, which denotes the company had a -0.11% return per unit of risk over the last 3 months. Dongkuk Steel Mill exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Dongkuk Steel's Standard Deviation of 0.95, mean deviation of 0.6558, and Variance of 0.9024 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0728, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Dongkuk Steel are expected to decrease at a much lower rate. During the bear market, Dongkuk Steel is likely to outperform the market. At this point, Dongkuk Steel Mill has a negative expected return of -0.11%. Please make sure to confirm Dongkuk Steel's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Dongkuk Steel Mill performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.01 |
Virtually no predictability
Dongkuk Steel Mill has virtually no predictability. Overlapping area represents the amount of predictability between Dongkuk Steel time series from 7th of May 2023 to 16th of February 2024 and 16th of February 2024 to 27th 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 Dongkuk Steel Mill price movement. The serial correlation of 0.01 indicates that just 1.0% of current Dongkuk Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.01 | |
| Spearman Rank Test | 0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 80 K |
Dongkuk Steel Mill lagged returns against current returns
Autocorrelation, which is Dongkuk Steel 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 Dongkuk Steel's stock expected returns. We can calculate the autocorrelation of Dongkuk Steel returns to help us make a trade decision. For example, suppose you find that Dongkuk Steel 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 |
Dongkuk Steel 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 Dongkuk Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Dongkuk Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Dongkuk Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Dongkuk Steel Lagged Returns
When evaluating Dongkuk Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Dongkuk Steel stock have on its future price. Dongkuk Steel 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, Dongkuk Steel autocorrelation shows the relationship between Dongkuk Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Dongkuk Steel Mill.
Regressed Prices |
| Timeline |
Pair Trading with Dongkuk Steel
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 Dongkuk Steel 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 Dongkuk Steel will appreciate offsetting losses from the drop in the long position's value.Moving together with Dongkuk Stock
| 0.73 | 051910 | LG Chemicals | PairCorr |
| 0.8 | 005490 | POSCO Holdings | PairCorr |
| 0.77 | 009830 | Hanwha Solutions | PairCorr |
| 0.78 | 011170 | Lotte Chemical Corp | PairCorr |
| 0.94 | 004020 | Hyundai Steel | PairCorr |
Moving against Dongkuk Stock
The ability to find closely correlated positions to Dongkuk Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dongkuk Steel 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 Dongkuk Steel - 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 Dongkuk Steel Mill to buy it.
The correlation of Dongkuk Steel 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 Dongkuk Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dongkuk Steel Mill 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 Dongkuk Steel 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 Dongkuk Stock
Dongkuk Steel financial ratios help investors to determine whether Dongkuk 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 Dongkuk with respect to the benefits of owning Dongkuk Steel security.