Daehan Steel (Korea) Market Value
| 084010 Stock | 15,270 70.00 0.46% |
| Symbol | Daehan |
Daehan 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 Daehan 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 Daehan Steel.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Daehan Steel on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Daehan Steel or generate 0.0% return on investment in Daehan Steel over 30 days. Daehan Steel is related to or competes with LG Chemicals, Lotte Chemical, Hyundai Steel, and Seah Steel. More
Daehan 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 Daehan 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 Daehan Steel upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.48 | |||
| Information Ratio | 0.1293 | |||
| Maximum Drawdown | 14.05 | |||
| Value At Risk | (2.29) | |||
| Potential Upside | 2.98 |
Daehan Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Daehan Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Daehan Steel's standard deviation. In reality, there are many statistical measures that can use Daehan Steel historical prices to predict the future Daehan Steel's volatility.| Risk Adjusted Performance | 0.153 | |||
| Jensen Alpha | 0.4055 | |||
| Total Risk Alpha | 0.0655 | |||
| Sortino Ratio | 0.1795 | |||
| Treynor Ratio | (2.13) |
Daehan Steel Backtested Returns
Daehan Steel appears to be very steady, given 3 months investment horizon. Daehan Steel secures Sharpe Ratio (or Efficiency) of 0.23, which denotes the company had a 0.23% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for Daehan Steel, which you can use to evaluate the volatility of the firm. Please utilize Daehan Steel's Downside Deviation of 1.48, semi deviation of 0.9022, and Mean Deviation of 1.2 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Daehan Steel holds a performance score of 18. The firm shows a Beta (market volatility) of -0.18, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Daehan Steel are expected to decrease at a much lower rate. During the bear market, Daehan Steel is likely to outperform the market. Please check Daehan Steel's mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Daehan Steel's price patterns will revert.
Auto-correlation | 0.80 |
Very good predictability
Daehan Steel has very good predictability. Overlapping area represents the amount of predictability between Daehan Steel time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Daehan Steel price movement. The serial correlation of 0.8 indicates that around 80.0% of current Daehan Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.8 | |
| Spearman Rank Test | 0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 161.8 K |
Daehan Steel lagged returns against current returns
Autocorrelation, which is Daehan 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 Daehan Steel's stock expected returns. We can calculate the autocorrelation of Daehan Steel returns to help us make a trade decision. For example, suppose you find that Daehan 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 |
Daehan 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 Daehan Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Daehan Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Daehan Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Daehan Steel Lagged Returns
When evaluating Daehan Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Daehan Steel stock have on its future price. Daehan 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, Daehan Steel autocorrelation shows the relationship between Daehan Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Daehan Steel.
Regressed Prices |
| Timeline |
Pair Trading with Daehan 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 Daehan 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 Daehan Steel will appreciate offsetting losses from the drop in the long position's value.Moving against Daehan Stock
| 0.87 | 005930 | Samsung Electronics | PairCorr |
| 0.86 | 005935 | Samsung Electronics | PairCorr |
| 0.83 | 009830 | Hanwha Solutions | PairCorr |
| 0.71 | 005380 | Hyundai Motor | PairCorr |
| 0.64 | 000270 | Kia Corp | PairCorr |
The ability to find closely correlated positions to Daehan 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 Daehan 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 Daehan 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 Daehan Steel to buy it.
The correlation of Daehan 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 Daehan Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Daehan 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 Daehan 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 Daehan Stock
Daehan Steel financial ratios help investors to determine whether Daehan 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 Daehan with respect to the benefits of owning Daehan Steel security.