Finebesteel (Korea) Market Value
133820 Stock | 1,130 48.00 4.44% |
Symbol | Finebesteel |
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.
10/27/2024 |
| 11/26/2024 |
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.
Downside Deviation | 2.08 | |||
Information Ratio | 0.0151 | |||
Maximum Drawdown | 25.82 | |||
Value At Risk | (2.87) | |||
Potential Upside | 3.56 |
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.Risk Adjusted Performance | 0.0517 | |||
Jensen Alpha | 0.1226 | |||
Total Risk Alpha | (0.32) | |||
Sortino Ratio | 0.0223 | |||
Treynor Ratio | 0.4535 |
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 Coefficient | 0.68 | |
Spearman Rank Test | 0.38 | |
Residual Average | 0.0 | |
Price Variance | 2004.05 |
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
0.49 | 002690 | Dong Il Steel | PairCorr |
0.42 | 008260 | Ni Steel | PairCorr |
0.42 | 034830 | Korea Real Estate | PairCorr |
0.42 | 053080 | Wonbang Tech | PairCorr |
0.41 | 007280 | Korea Steel | PairCorr |
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.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.