J Steel (Korea) Market Value
| 023440 Stock | 1,830 17.00 0.94% |
| Symbol | 023440 |
J 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 J 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 J Steel.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in J Steel on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding J Steel Co or generate 0.0% return on investment in J Steel over 90 days.
J 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 J 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 J Steel Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 19.62 | |||
| Value At Risk | (4.98) | |||
| Potential Upside | 6.8 |
J Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for J Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as J Steel's standard deviation. In reality, there are many statistical measures that can use J Steel historical prices to predict the future J Steel's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | 0.2879 | |||
| Treynor Ratio | (0.66) |
J Steel Backtested Returns
At this point, J Steel is very steady. J Steel holds Efficiency (Sharpe) Ratio of close to zero, which attests that the company had a close to zero % return per unit of volatility over the last 3 months. We have found twenty-four technical indicators for J Steel, which you can use to evaluate the volatility of the entity. Please check out J Steel's market risk adjusted performance of (0.65), and Coefficient Of Variation of (2,442) to validate if the risk estimate we provide is consistent with the expected return of 0.0144%. The firm retains a Market Volatility (i.e., Beta) of 0.23, which attests to not very significant fluctuations relative to the market. As returns on the market increase, J Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding J Steel is expected to be smaller as well. J Steel today retains a risk of 3.35%. Please check out J Steel jensen alpha, treynor ratio, value at risk, as well as the relationship between the total risk alpha and maximum drawdown , to decide if J Steel will be following its current trending patterns.
Auto-correlation | -0.77 |
Almost perfect reverse predictability
J Steel Co has almost perfect reverse predictability. Overlapping area represents the amount of predictability between J 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 J Steel price movement. The serial correlation of -0.77 indicates that around 77.0% of current J Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.77 | |
| Spearman Rank Test | -0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 19 K |
J Steel lagged returns against current returns
Autocorrelation, which is J 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 J Steel's stock expected returns. We can calculate the autocorrelation of J Steel returns to help us make a trade decision. For example, suppose you find that J 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 |
J 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 J Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if J Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in J Steel stock over time.
Current vs Lagged Prices |
| Timeline |
J Steel Lagged Returns
When evaluating J Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of J Steel stock have on its future price. J 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, J Steel autocorrelation shows the relationship between J Steel stock current value and its past values and can show if there is a momentum factor associated with investing in J Steel Co.
Regressed Prices |
| Timeline |
Pair Trading with J 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 J 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 J Steel will appreciate offsetting losses from the drop in the long position's value.Moving against 023440 Stock
| 0.48 | 005387 | Hyundai Motor | PairCorr |
| 0.44 | 000660 | SK Hynix | PairCorr |
| 0.42 | 005385 | Hyundai Motor | PairCorr |
| 0.38 | 058470 | LEENO Industrial Earnings Call Today | PairCorr |
The ability to find closely correlated positions to J 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 J 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 J 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 J Steel Co to buy it.
The correlation of J 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 J Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if J 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 J 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.