TCC Steel (Korea) Market Value
| 002710 Stock | 29,200 1,800 6.57% |
| Symbol | TCC |
TCC 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 TCC 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 TCC Steel.
| 11/05/2024 |
| 01/04/2025 |
If you would invest 0.00 in TCC Steel on November 5, 2024 and sell it all today you would earn a total of 0.00 from holding TCC Steel Corp or generate 0.0% return on investment in TCC Steel over 60 days.
TCC 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 TCC 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 TCC Steel Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 18.15 | |||
| Value At Risk | (5.83) | |||
| Potential Upside | 5.93 |
TCC Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for TCC Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as TCC Steel's standard deviation. In reality, there are many statistical measures that can use TCC Steel historical prices to predict the future TCC Steel's volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (0.71) | |||
| Total Risk Alpha | (0.77) | |||
| Treynor Ratio | (4.14) |
TCC Steel Corp Backtested Returns
TCC Steel Corp retains Efficiency (Sharpe Ratio) of -0.18, which indicates the company had a -0.18% return per unit of volatility over the last 3 months. TCC Steel exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate TCC Steel's Information Ratio of (0.18), mean deviation of 3.11, and Market Risk Adjusted Performance of (4.13) to confirm the risk estimate we provide. The firm owns a Beta (Systematic Risk) of 0.17, which indicates not very significant fluctuations relative to the market. As returns on the market increase, TCC Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding TCC Steel is expected to be smaller as well. At this point, TCC Steel Corp has a negative expected return of -0.7%. Please make sure to validate TCC Steel's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if TCC Steel Corp performance from the past will be repeated in the future.
Auto-correlation | 0.48 |
Average predictability
TCC Steel Corp has average predictability. Overlapping area represents the amount of predictability between TCC Steel time series from 5th of November 2024 to 5th of December 2024 and 5th of December 2024 to 4th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of TCC Steel Corp price movement. The serial correlation of 0.48 indicates that about 48.0% of current TCC Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 2.8 M |
TCC Steel Corp lagged returns against current returns
Autocorrelation, which is TCC 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 TCC Steel's stock expected returns. We can calculate the autocorrelation of TCC Steel returns to help us make a trade decision. For example, suppose you find that TCC 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 |
TCC 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 TCC Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if TCC Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in TCC Steel stock over time.
Current vs Lagged Prices |
| Timeline |
TCC Steel Lagged Returns
When evaluating TCC Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of TCC Steel stock have on its future price. TCC 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, TCC Steel autocorrelation shows the relationship between TCC Steel stock current value and its past values and can show if there is a momentum factor associated with investing in TCC Steel Corp.
Regressed Prices |
| Timeline |
Pair Trading with TCC 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 TCC 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 TCC Steel will appreciate offsetting losses from the drop in the long position's value.Moving together with TCC Stock
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| 0.77 | 207940 | Samsung Biologics | PairCorr |
The ability to find closely correlated positions to TCC 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 TCC 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 TCC 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 TCC Steel Corp to buy it.
The correlation of TCC 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 TCC Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TCC Steel Corp 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 TCC 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.