Kukil Metal (Korea) Market Value
| 060480 Stock | KRW 1,750 31.00 1.74% |
| Symbol | Kukil |
Kukil Metal '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 Kukil Metal'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 Kukil Metal.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Kukil Metal on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Kukil Metal Co or generate 0.0% return on investment in Kukil Metal over 30 days. Kukil Metal is related to or competes with Keum Kang, Tplex, PJ Metal, Samhyun Steel, Gyeongnam Steel, Jeil Steel, and Daedong Steel. Kukil Metal Co., Ltd. engages in processing and manufacturing brass bars and copper alloy coil products in South Korea More
Kukil Metal 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 Kukil Metal'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 Kukil Metal Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 6.99 | |||
| Value At Risk | (2.40) | |||
| Potential Upside | 2.21 |
Kukil Metal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kukil Metal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kukil Metal's standard deviation. In reality, there are many statistical measures that can use Kukil Metal historical prices to predict the future Kukil Metal's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.36) | |||
| Treynor Ratio | 12.18 |
Kukil Metal Backtested Returns
Kukil Metal has Sharpe Ratio of -0.15, which conveys that the firm had a -0.15% return per unit of risk over the last 3 months. Kukil Metal exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Kukil Metal's Standard Deviation of 1.37, risk adjusted performance of (0.09), and Mean Deviation of 0.9942 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.0151, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Kukil Metal are expected to decrease at a much lower rate. During the bear market, Kukil Metal is likely to outperform the market. At this point, Kukil Metal has a negative expected return of -0.22%. Please make sure to verify Kukil Metal's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Kukil Metal performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.55 |
Good reverse predictability
Kukil Metal Co has good reverse predictability. Overlapping area represents the amount of predictability between Kukil Metal time series from 24th of October 2024 to 8th of November 2024 and 8th of November 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 Kukil Metal price movement. The serial correlation of -0.55 indicates that about 55.0% of current Kukil Metal price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.55 | |
| Spearman Rank Test | -0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 5013.32 |
Kukil Metal lagged returns against current returns
Autocorrelation, which is Kukil Metal 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 Kukil Metal's stock expected returns. We can calculate the autocorrelation of Kukil Metal returns to help us make a trade decision. For example, suppose you find that Kukil Metal 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 |
Kukil Metal 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 Kukil Metal stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kukil Metal stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kukil Metal stock over time.
Current vs Lagged Prices |
| Timeline |
Kukil Metal Lagged Returns
When evaluating Kukil Metal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kukil Metal stock have on its future price. Kukil Metal 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, Kukil Metal autocorrelation shows the relationship between Kukil Metal stock current value and its past values and can show if there is a momentum factor associated with investing in Kukil Metal Co.
Regressed Prices |
| Timeline |
Pair Trading with Kukil Metal
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 Kukil Metal 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 Kukil Metal will appreciate offsetting losses from the drop in the long position's value.Moving together with Kukil Stock
Moving against Kukil Stock
| 0.68 | 023440 | Jeil Steel Mfg | PairCorr |
| 0.51 | 024110 | Industrial Bank | PairCorr |
| 0.48 | 105560 | KB Financial Group | PairCorr |
The ability to find closely correlated positions to Kukil Metal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kukil Metal 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 Kukil Metal - 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 Kukil Metal Co to buy it.
The correlation of Kukil Metal 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 Kukil Metal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kukil Metal 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 Kukil Metal 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 Kukil Stock
Kukil Metal financial ratios help investors to determine whether Kukil 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 Kukil with respect to the benefits of owning Kukil Metal security.