Ni Steel (Korea) Market Value
| 008260 Stock | 3,525 15.00 0.43% |
| Symbol | 008260 |
Ni 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 Ni 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 Ni Steel.
| 01/27/2025 |
| 02/26/2025 |
If you would invest 0.00 in Ni Steel on January 27, 2025 and sell it all today you would earn a total of 0.00 from holding Ni Steel or generate 0.0% return on investment in Ni Steel over 30 days. Ni Steel is related to or competes with Hyundai Industrial, Seoyon Topmetal, BIT Computer, Asiana Airlines, GS Retail, BGF Retail, and Nable Communications. More
Ni 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 Ni 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 Ni Steel upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 8.4 | |||
| Value At Risk | (3.26) | |||
| Potential Upside | 3.64 |
Ni Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ni Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ni Steel's standard deviation. In reality, there are many statistical measures that can use Ni Steel historical prices to predict the future Ni Steel's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.1) | |||
| Treynor Ratio | (0.74) |
Ni Steel Backtested Returns
Ni Steel retains Efficiency (Sharpe Ratio) of -0.0601, which conveys that the firm had a -0.0601 % return per unit of price deviation over the last 3 months. Ni Steel exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Ni Steel's Information Ratio of (0.06), market risk adjusted performance of (0.73), and Mean Deviation of 1.32 to check out the risk estimate we provide. The company owns a Beta (Systematic Risk) of 0.16, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Ni Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Ni Steel is expected to be smaller as well. At this point, Ni Steel has a negative expected return of -0.11%. Please make sure to verify Ni Steel's market risk adjusted performance, coefficient of variation, jensen alpha, as well as the relationship between the mean deviation and standard deviation , to decide if Ni Steel performance from the past will be repeated in the future.
Auto-correlation | 0.11 |
Insignificant predictability
Ni Steel has insignificant predictability. Overlapping area represents the amount of predictability between Ni Steel time series from 27th of January 2025 to 11th of February 2025 and 11th of February 2025 to 26th of February 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 Ni Steel price movement. The serial correlation of 0.11 indicates that less than 11.0% of current Ni Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.11 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 293.36 |
Ni Steel lagged returns against current returns
Autocorrelation, which is Ni 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 Ni Steel's stock expected returns. We can calculate the autocorrelation of Ni Steel returns to help us make a trade decision. For example, suppose you find that Ni 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 |
Ni 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 Ni Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ni Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ni Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Ni Steel Lagged Returns
When evaluating Ni Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ni Steel stock have on its future price. Ni 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, Ni Steel autocorrelation shows the relationship between Ni Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Ni Steel.
Regressed Prices |
| Timeline |
Pair Trading with Ni 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 Ni 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 Ni Steel will appreciate offsetting losses from the drop in the long position's value.Moving together with 008260 Stock
Moving against 008260 Stock
The ability to find closely correlated positions to Ni 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 Ni 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 Ni 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 Ni Steel to buy it.
The correlation of Ni 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 Ni Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ni 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 Ni 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 008260 Stock
Ni Steel financial ratios help investors to determine whether 008260 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 008260 with respect to the benefits of owning Ni Steel security.