Histeel (Korea) Market Value
| 071090 Stock | 3,050 130.00 4.09% |
| Symbol | Histeel |
Histeel '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 Histeel'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 Histeel.
| 11/06/2023 |
| 11/30/2024 |
If you would invest 0.00 in Histeel on November 6, 2023 and sell it all today you would earn a total of 0.00 from holding Histeel or generate 0.0% return on investment in Histeel over 390 days. Histeel is related to or competes with LG Chemicals, POSCO Holdings, Hanwha Solutions, Hyundai Steel, Ecopro, Seah Steel, and SeAH Bestee. More
Histeel 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 Histeel'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 Histeel upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 17.62 | |||
| Value At Risk | (4.15) | |||
| Potential Upside | 5.17 |
Histeel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Histeel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Histeel's standard deviation. In reality, there are many statistical measures that can use Histeel historical prices to predict the future Histeel's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.23) | |||
| Total Risk Alpha | (0.64) | |||
| Treynor Ratio | (0.15) |
Histeel Backtested Returns
Histeel holds Efficiency (Sharpe) Ratio of -0.0282, which attests that the entity had a -0.0282% return per unit of risk over the last 3 months. Histeel exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Histeel's Risk Adjusted Performance of (0.02), market risk adjusted performance of (0.14), and Standard Deviation of 3.1 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.83, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Histeel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Histeel is expected to be smaller as well. At this point, Histeel has a negative expected return of -0.0886%. Please make sure to check out Histeel's jensen alpha, treynor ratio, value at risk, as well as the relationship between the total risk alpha and maximum drawdown , to decide if Histeel performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.03 |
Virtually no predictability
Histeel has virtually no predictability. Overlapping area represents the amount of predictability between Histeel time series from 6th of November 2023 to 19th of May 2024 and 19th of May 2024 to 30th 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 Histeel price movement. The serial correlation of 0.03 indicates that only 3.0% of current Histeel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.03 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 123.1 K |
Histeel lagged returns against current returns
Autocorrelation, which is Histeel 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 Histeel's stock expected returns. We can calculate the autocorrelation of Histeel returns to help us make a trade decision. For example, suppose you find that Histeel 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 |
Histeel 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 Histeel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Histeel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Histeel stock over time.
Current vs Lagged Prices |
| Timeline |
Histeel Lagged Returns
When evaluating Histeel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Histeel stock have on its future price. Histeel 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, Histeel autocorrelation shows the relationship between Histeel stock current value and its past values and can show if there is a momentum factor associated with investing in Histeel.
Regressed Prices |
| Timeline |
Pair Trading with Histeel
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 Histeel 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 Histeel will appreciate offsetting losses from the drop in the long position's value.Moving together with Histeel Stock
| 0.68 | 051910 | LG Chemicals | PairCorr |
| 0.62 | 005490 | POSCO Holdings | PairCorr |
| 0.61 | 009830 | Hanwha Solutions | PairCorr |
| 0.71 | 004020 | Hyundai Steel | PairCorr |
Moving against Histeel Stock
The ability to find closely correlated positions to Histeel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Histeel 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 Histeel - 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 Histeel to buy it.
The correlation of Histeel 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 Histeel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Histeel 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 Histeel 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 Histeel Stock
Histeel financial ratios help investors to determine whether Histeel 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 Histeel with respect to the benefits of owning Histeel security.