Hankook Steel (Korea) Market Value
| 025890 Stock | 2,155 10.00 0.47% |
| Symbol | Hankook |
Hankook 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 Hankook 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 Hankook Steel.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Hankook Steel on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Hankook Steel Co or generate 0.0% return on investment in Hankook Steel over 540 days. Hankook Steel is related to or competes with AptaBio Therapeutics, Daewoo SBI, Dream Security, Microfriend, Innometry, and Jahwa Electron. More
Hankook 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 Hankook 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 Hankook Steel Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.73 | |||
| Information Ratio | 0.0087 | |||
| Maximum Drawdown | 11.98 | |||
| Value At Risk | (1.93) | |||
| Potential Upside | 1.91 |
Hankook Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hankook Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hankook Steel's standard deviation. In reality, there are many statistical measures that can use Hankook Steel historical prices to predict the future Hankook Steel's volatility.| Risk Adjusted Performance | 0.0393 | |||
| Jensen Alpha | 0.1167 | |||
| Total Risk Alpha | (0.44) | |||
| Sortino Ratio | 0.0124 | |||
| Treynor Ratio | 0.5273 |
Hankook Steel Backtested Returns
Hankook Steel appears to be very steady, given 3 months investment horizon. Hankook Steel holds Efficiency (Sharpe) Ratio of 0.0552, which attests that the entity had a 0.0552% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Hankook Steel, which you can use to evaluate the volatility of the firm. Please utilize Hankook Steel's Market Risk Adjusted Performance of 0.5373, risk adjusted performance of 0.0393, and Downside Deviation of 2.73 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Hankook Steel holds a performance score of 4. The company retains a Market Volatility (i.e., Beta) of 0.28, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hankook Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hankook Steel is expected to be smaller as well. Please check Hankook Steel's coefficient of variation, jensen alpha, and the relationship between the downside deviation and standard deviation , to make a quick decision on whether Hankook Steel's current trending patterns will revert.
Auto-correlation | 0.35 |
Below average predictability
Hankook Steel Co has below average predictability. Overlapping area represents the amount of predictability between Hankook Steel time series from 8th of June 2023 to 4th of March 2024 and 4th of March 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 Hankook Steel price movement. The serial correlation of 0.35 indicates that nearly 35.0% of current Hankook Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.35 | |
| Spearman Rank Test | 0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 52.8 K |
Hankook Steel lagged returns against current returns
Autocorrelation, which is Hankook 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 Hankook Steel's stock expected returns. We can calculate the autocorrelation of Hankook Steel returns to help us make a trade decision. For example, suppose you find that Hankook 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 |
Hankook 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 Hankook Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hankook Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hankook Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Hankook Steel Lagged Returns
When evaluating Hankook Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hankook Steel stock have on its future price. Hankook 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, Hankook Steel autocorrelation shows the relationship between Hankook Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Hankook Steel Co.
Regressed Prices |
| Timeline |
Pair Trading with Hankook 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 Hankook 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 Hankook Steel will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Hankook 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 Hankook 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 Hankook 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 Hankook Steel Co to buy it.
The correlation of Hankook 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 Hankook Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hankook Steel 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 Hankook 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 Hankook Stock
Hankook Steel financial ratios help investors to determine whether Hankook 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 Hankook with respect to the benefits of owning Hankook Steel security.