Jeil Steel (Korea) Market Value
| 023440 Stock | KRW 1,905 5.00 0.26% |
| Symbol | Jeil |
Jeil 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 Jeil 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 Jeil Steel.
| 08/25/2024 |
| 11/23/2024 |
If you would invest 0.00 in Jeil Steel on August 25, 2024 and sell it all today you would earn a total of 0.00 from holding Jeil Steel Mfg or generate 0.0% return on investment in Jeil Steel over 90 days. Jeil Steel is related to or competes with Dong A, Husteel, PH Tech, SS TECH, Samhyun Steel, Seah Steel, and Yura Tech. Jeil Steel Mfg Co., Ltd. manufactures and sells rolling steel products. More
Jeil 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 Jeil 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 Jeil Steel Mfg upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.33 | |||
| Information Ratio | 0.1006 | |||
| Maximum Drawdown | 31.25 | |||
| Value At Risk | (4.00) | |||
| Potential Upside | 10.07 |
Jeil Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Jeil Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Jeil Steel's standard deviation. In reality, there are many statistical measures that can use Jeil Steel historical prices to predict the future Jeil Steel's volatility.| Risk Adjusted Performance | 0.1084 | |||
| Jensen Alpha | 0.4206 | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | 0.1012 | |||
| Treynor Ratio | 0.4878 |
Jeil Steel Mfg Backtested Returns
Jeil Steel appears to be very steady, given 3 months investment horizon. Jeil Steel Mfg holds Efficiency (Sharpe) Ratio of 0.14, which attests that the entity had a 0.14% return per unit of risk over the last 3 months. By evaluating Jeil Steel's technical indicators, you can evaluate if the expected return of 0.63% is justified by implied risk. Please utilize Jeil Steel's Downside Deviation of 4.33, market risk adjusted performance of 0.4978, and Risk Adjusted Performance of 0.1084 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Jeil Steel holds a performance score of 10. The company retains a Market Volatility (i.e., Beta) of 1.15, which attests to a somewhat significant risk relative to the market. Jeil Steel returns are very sensitive to returns on the market. As the market goes up or down, Jeil Steel is expected to follow. Please check Jeil Steel's market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to make a quick decision on whether Jeil Steel's current trending patterns will revert.
Auto-correlation | 0.48 |
Average predictability
Jeil Steel Mfg has average predictability. Overlapping area represents the amount of predictability between Jeil Steel time series from 25th of August 2024 to 9th of October 2024 and 9th of October 2024 to 23rd 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 Jeil Steel Mfg price movement. The serial correlation of 0.48 indicates that about 48.0% of current Jeil Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 27.9 K |
Jeil Steel Mfg lagged returns against current returns
Autocorrelation, which is Jeil 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 Jeil Steel's stock expected returns. We can calculate the autocorrelation of Jeil Steel returns to help us make a trade decision. For example, suppose you find that Jeil 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 |
Jeil 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 Jeil Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Jeil Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Jeil Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Jeil Steel Lagged Returns
When evaluating Jeil Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Jeil Steel stock have on its future price. Jeil 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, Jeil Steel autocorrelation shows the relationship between Jeil Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Jeil Steel Mfg.
Regressed Prices |
| Timeline |
Pair Trading with Jeil 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 Jeil 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 Jeil Steel will appreciate offsetting losses from the drop in the long position's value.Moving against Jeil Stock
| 0.72 | 005930 | Samsung Electronics | PairCorr |
| 0.72 | 005935 | Samsung Electronics | PairCorr |
| 0.71 | 005380 | Hyundai Motor | PairCorr |
| 0.69 | 005385 | Hyundai Motor | PairCorr |
| 0.62 | 053260 | Keum Kang Steel | PairCorr |
The ability to find closely correlated positions to Jeil 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 Jeil 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 Jeil 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 Jeil Steel Mfg to buy it.
The correlation of Jeil 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 Jeil Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jeil Steel Mfg 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 Jeil 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 Jeil Stock
Jeil Steel financial ratios help investors to determine whether Jeil 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 Jeil with respect to the benefits of owning Jeil Steel security.