Finebesteel (Korea) Market Value

133820 Stock   1,130  48.00  4.44%   
Finebesteel's market value is the price at which a share of Finebesteel trades on a public exchange. It measures the collective expectations of Finebesteel investors about its performance. Finebesteel is trading at 1130.00 as of the 26th of November 2024, a 4.44 percent up since the beginning of the trading day. The stock's open price was 1082.0.
With this module, you can estimate the performance of a buy and hold strategy of Finebesteel and determine expected loss or profit from investing in Finebesteel over a given investment horizon. Check out Finebesteel Correlation, Finebesteel Volatility and Finebesteel Alpha and Beta module to complement your research on Finebesteel.
Symbol

Please note, there is a significant difference between Finebesteel's value and its price as these two are different measures arrived at by different means. Investors typically determine if Finebesteel is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Finebesteel's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Finebesteel '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 Finebesteel'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 Finebesteel.
0.00
10/27/2024
No Change 0.00  0.0 
In 30 days
11/26/2024
0.00
If you would invest  0.00  in Finebesteel on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Finebesteel or generate 0.0% return on investment in Finebesteel over 30 days. Finebesteel is related to or competes with ABOV Semiconductor, HJ ShipBuilding, SEOJEON ELECTRIC, Seoul Semiconductor, Koryo Credit, Woorim Machinery, and Daekyung Machinery. More

Finebesteel 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 Finebesteel'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 Finebesteel upside and downside potential and time the market with a certain degree of confidence.

Finebesteel Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Finebesteel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Finebesteel's standard deviation. In reality, there are many statistical measures that can use Finebesteel historical prices to predict the future Finebesteel's volatility.
Hype
Prediction
LowEstimatedHigh
1,1271,1301,133
Details
Intrinsic
Valuation
LowRealHigh
1,0501,0541,243
Details
Naive
Forecast
LowNextHigh
1,1181,1211,125
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
958.701,0491,139
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Finebesteel. Your research has to be compared to or analyzed against Finebesteel's peers to derive any actionable benefits. When done correctly, Finebesteel's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Finebesteel.

Finebesteel Backtested Returns

Finebesteel appears to be very steady, given 3 months investment horizon. Finebesteel secures Sharpe Ratio (or Efficiency) of 0.0953, which denotes the company had a 0.0953% return per unit of risk over the last 3 months. We have found thirty technical indicators for Finebesteel, which you can use to evaluate the volatility of the firm. Please utilize Finebesteel's Coefficient Of Variation of 1734.81, downside deviation of 2.08, and Mean Deviation of 1.86 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Finebesteel holds a performance score of 7. The firm shows a Beta (market volatility) of 0.37, which means possible diversification benefits within a given portfolio. As returns on the market increase, Finebesteel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Finebesteel is expected to be smaller as well. Please check Finebesteel's semi deviation, coefficient of variation, jensen alpha, as well as the relationship between the downside deviation and standard deviation , to make a quick decision on whether Finebesteel's price patterns will revert.

Auto-correlation

    
  0.68  

Good predictability

Finebesteel has good predictability. Overlapping area represents the amount of predictability between Finebesteel time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Finebesteel price movement. The serial correlation of 0.68 indicates that around 68.0% of current Finebesteel price fluctuation can be explain by its past prices.
Correlation Coefficient0.68
Spearman Rank Test0.38
Residual Average0.0
Price Variance2004.05

Finebesteel lagged returns against current returns

Autocorrelation, which is Finebesteel 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 Finebesteel's stock expected returns. We can calculate the autocorrelation of Finebesteel returns to help us make a trade decision. For example, suppose you find that Finebesteel 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  

Finebesteel 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 Finebesteel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Finebesteel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Finebesteel stock over time.
   Current vs Lagged Prices   
       Timeline  

Finebesteel Lagged Returns

When evaluating Finebesteel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Finebesteel stock have on its future price. Finebesteel 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, Finebesteel autocorrelation shows the relationship between Finebesteel stock current value and its past values and can show if there is a momentum factor associated with investing in Finebesteel.
   Regressed Prices   
       Timeline  

Pair Trading with Finebesteel

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 Finebesteel 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 Finebesteel will appreciate offsetting losses from the drop in the long position's value.

Moving against Finebesteel Stock

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  0.42008260 Ni SteelPairCorr
  0.42034830 Korea Real EstatePairCorr
  0.42053080 Wonbang TechPairCorr
  0.41007280 Korea SteelPairCorr
The ability to find closely correlated positions to Finebesteel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Finebesteel 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 Finebesteel - 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 Finebesteel to buy it.
The correlation of Finebesteel 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 Finebesteel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Finebesteel 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 Finebesteel 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.
Pair CorrelationCorrelation Matching

Other Information on Investing in Finebesteel Stock

Finebesteel financial ratios help investors to determine whether Finebesteel 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 Finebesteel with respect to the benefits of owning Finebesteel security.