Daedong Metals (Korea) Market Value
| 020400 Stock | KRW 7,340 50.00 0.68% |
| Symbol | Daedong |
Daedong Metals '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 Daedong Metals' 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 Daedong Metals.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Daedong Metals on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Daedong Metals Co or generate 0.0% return on investment in Daedong Metals over 30 days. Daedong Metals is related to or competes with DSC Investment, Korea Investment, Dongbu Steel, Innowireless, Han Kook, Moonbae Steel, and Atinum Investment. Daedong Metals Co., Ltd. produces and sells casting parts for agricultural machinery, heavy equipment, and automotive ma... More
Daedong Metals 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 Daedong Metals' 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 Daedong Metals Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.16 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 7.64 | |||
| Value At Risk | (3.78) | |||
| Potential Upside | 2.6 |
Daedong Metals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Daedong Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Daedong Metals' standard deviation. In reality, there are many statistical measures that can use Daedong Metals historical prices to predict the future Daedong Metals' volatility.| Risk Adjusted Performance | 0.0291 | |||
| Jensen Alpha | 0.0249 | |||
| Total Risk Alpha | (0.55) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.1589 |
Daedong Metals Backtested Returns
Daedong Metals appears to be very steady, given 3 months investment horizon. Daedong Metals secures Sharpe Ratio (or Efficiency) of 0.0589, which denotes the company had a 0.0589% return per unit of standard deviation over the last 3 months. We have found thirty technical indicators for Daedong Metals Co, which you can use to evaluate the volatility of the firm. Please utilize Daedong Metals' Semi Deviation of 2.02, downside deviation of 2.16, and Mean Deviation of 1.81 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Daedong Metals holds a performance score of 4. The firm shows a Beta (market volatility) of 0.65, which means possible diversification benefits within a given portfolio. As returns on the market increase, Daedong Metals' returns are expected to increase less than the market. However, during the bear market, the loss of holding Daedong Metals is expected to be smaller as well. Please check Daedong Metals' downside deviation, standard deviation, and the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Daedong Metals' price patterns will revert.
Auto-correlation | -0.4 |
Poor reverse predictability
Daedong Metals Co has poor reverse predictability. Overlapping area represents the amount of predictability between Daedong Metals time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Daedong Metals price movement. The serial correlation of -0.4 indicates that just about 40.0% of current Daedong Metals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.4 | |
| Spearman Rank Test | -0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 507.4 K |
Daedong Metals lagged returns against current returns
Autocorrelation, which is Daedong Metals 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 Daedong Metals' stock expected returns. We can calculate the autocorrelation of Daedong Metals returns to help us make a trade decision. For example, suppose you find that Daedong Metals 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 |
Daedong Metals 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 Daedong Metals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Daedong Metals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Daedong Metals stock over time.
Current vs Lagged Prices |
| Timeline |
Daedong Metals Lagged Returns
When evaluating Daedong Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Daedong Metals stock have on its future price. Daedong Metals 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, Daedong Metals autocorrelation shows the relationship between Daedong Metals stock current value and its past values and can show if there is a momentum factor associated with investing in Daedong Metals Co.
Regressed Prices |
| Timeline |
Pair Trading with Daedong Metals
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 Daedong Metals 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 Daedong Metals will appreciate offsetting losses from the drop in the long position's value.Moving together with Daedong Stock
Moving against Daedong Stock
The ability to find closely correlated positions to Daedong Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Daedong Metals 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 Daedong Metals - 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 Daedong Metals Co to buy it.
The correlation of Daedong Metals 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 Daedong Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Daedong Metals 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 Daedong Metals 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 Daedong Stock
Daedong Metals financial ratios help investors to determine whether Daedong 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 Daedong with respect to the benefits of owning Daedong Metals security.