Hyundai Steel (Korea) Market Value
| 004020 Stock | 29,150 350.00 1.22% |
| Symbol | Hyundai |
Hyundai 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 Hyundai 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 Hyundai Steel.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in Hyundai Steel on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding Hyundai Steel or generate 0.0% return on investment in Hyundai Steel over 90 days. Hyundai Steel is related to or competes with Jeju Air, Jin Air, Kyeryong Construction, Hyundai Engineering, Automobile, Hanshin Construction, and Keyang Electric. More
Hyundai 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 Hyundai 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 Hyundai Steel upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.84 | |||
| Information Ratio | 0.1613 | |||
| Maximum Drawdown | 20.98 | |||
| Value At Risk | (4.26) | |||
| Potential Upside | 7.06 |
Hyundai Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hyundai Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hyundai Steel's standard deviation. In reality, there are many statistical measures that can use Hyundai Steel historical prices to predict the future Hyundai Steel's volatility.| Risk Adjusted Performance | 0.1243 | |||
| Jensen Alpha | 0.4836 | |||
| Total Risk Alpha | 0.9298 | |||
| Sortino Ratio | 0.2062 | |||
| Treynor Ratio | 6.65 |
Hyundai Steel Backtested Returns
Hyundai Steel appears to be very steady, given 3 months investment horizon. Hyundai Steel holds Efficiency (Sharpe) Ratio of 0.17, which attests that the entity had a 0.17 % return per unit of risk over the last 3 months. By evaluating Hyundai Steel's technical indicators, you can evaluate if the expected return of 0.56% is justified by implied risk. Please utilize Hyundai Steel's Market Risk Adjusted Performance of 6.66, downside deviation of 2.84, and Risk Adjusted Performance of 0.1243 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Hyundai Steel holds a performance score of 13. The company retains a Market Volatility (i.e., Beta) of 0.0715, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hyundai Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hyundai Steel is expected to be smaller as well. Please check Hyundai Steel's standard deviation, total risk alpha, treynor ratio, as well as the relationship between the jensen alpha and sortino ratio , to make a quick decision on whether Hyundai Steel's current trending patterns will revert.
Auto-correlation | 0.74 |
Good predictability
Hyundai Steel has good predictability. Overlapping area represents the amount of predictability between Hyundai Steel time series from 17th of December 2024 to 31st of January 2025 and 31st of January 2025 to 17th of March 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 Hyundai Steel price movement. The serial correlation of 0.74 indicates that around 74.0% of current Hyundai Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.74 | |
| Spearman Rank Test | 0.48 | |
| Residual Average | 0.0 | |
| Price Variance | 7.1 M |
Hyundai Steel lagged returns against current returns
Autocorrelation, which is Hyundai 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 Hyundai Steel's stock expected returns. We can calculate the autocorrelation of Hyundai Steel returns to help us make a trade decision. For example, suppose you find that Hyundai 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 |
Hyundai 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 Hyundai Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hyundai Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hyundai Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Hyundai Steel Lagged Returns
When evaluating Hyundai Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hyundai Steel stock have on its future price. Hyundai 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, Hyundai Steel autocorrelation shows the relationship between Hyundai Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Hyundai Steel.
Regressed Prices |
| Timeline |
Pair Trading with Hyundai 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 Hyundai 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 Hyundai Steel will appreciate offsetting losses from the drop in the long position's value.Moving together with Hyundai Stock
| 0.79 | 005490 | POSCO Holdings | PairCorr |
| 0.62 | 009830 | Hanwha Solutions | PairCorr |
| 0.81 | 011170 | Lotte Chemical Corp | PairCorr |
Moving against Hyundai Stock
The ability to find closely correlated positions to Hyundai 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 Hyundai 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 Hyundai 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 Hyundai Steel to buy it.
The correlation of Hyundai 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 Hyundai Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hyundai 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 Hyundai 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 Hyundai Stock
Hyundai Steel financial ratios help investors to determine whether Hyundai 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 Hyundai with respect to the benefits of owning Hyundai Steel security.