Hankuk Steel (Korea) Market Value
| 025550 Stock | KRW 2,900 65.00 2.19% |
| Symbol | Hankuk |
Hankuk 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 Hankuk 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 Hankuk Steel.
| 01/09/2023 |
| 11/29/2024 |
If you would invest 0.00 in Hankuk Steel on January 9, 2023 and sell it all today you would earn a total of 0.00 from holding Hankuk Steel Wire or generate 0.0% return on investment in Hankuk Steel over 690 days. Hankuk Steel is related to or competes with LG Chemicals, POSCO Holdings, Hanwha Solutions, Lotte Chemical, Hyundai Steel, Ecopro, and Seah Steel. Hankuk Steel Wire Co., Ltd. produces and sells steel products in South Korea, Japan, and internationally More
Hankuk 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 Hankuk 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 Hankuk Steel Wire upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 7.47 | |||
| Value At Risk | (1.76) | |||
| Potential Upside | 1.75 |
Hankuk Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hankuk Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hankuk Steel's standard deviation. In reality, there are many statistical measures that can use Hankuk Steel historical prices to predict the future Hankuk Steel's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.28) | |||
| Treynor Ratio | (0.93) |
Hankuk Steel Wire Backtested Returns
Hankuk Steel Wire holds Efficiency (Sharpe) Ratio of -0.0347, which attests that the entity had a -0.0347% return per unit of risk over the last 3 months. Hankuk Steel Wire exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hankuk Steel's Market Risk Adjusted Performance of (0.92), standard deviation of 1.4, and Risk Adjusted Performance of (0.03) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.0754, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hankuk Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hankuk Steel is expected to be smaller as well. At this point, Hankuk Steel Wire has a negative expected return of -0.0501%. Please make sure to check out Hankuk Steel's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Hankuk Steel Wire performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.59 |
Modest predictability
Hankuk Steel Wire has modest predictability. Overlapping area represents the amount of predictability between Hankuk Steel time series from 9th of January 2023 to 20th of December 2023 and 20th of December 2023 to 29th 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 Hankuk Steel Wire price movement. The serial correlation of 0.59 indicates that roughly 59.0% of current Hankuk Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.59 | |
| Spearman Rank Test | 0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 109.3 K |
Hankuk Steel Wire lagged returns against current returns
Autocorrelation, which is Hankuk 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 Hankuk Steel's stock expected returns. We can calculate the autocorrelation of Hankuk Steel returns to help us make a trade decision. For example, suppose you find that Hankuk 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 |
Hankuk 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 Hankuk Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hankuk Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hankuk Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Hankuk Steel Lagged Returns
When evaluating Hankuk Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hankuk Steel stock have on its future price. Hankuk 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, Hankuk Steel autocorrelation shows the relationship between Hankuk Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Hankuk Steel Wire.
Regressed Prices |
| Timeline |
Pair Trading with Hankuk 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 Hankuk 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 Hankuk Steel will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Hankuk 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 Hankuk 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 Hankuk 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 Hankuk Steel Wire to buy it.
The correlation of Hankuk 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 Hankuk Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hankuk Steel Wire 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 Hankuk 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 Hankuk Stock
Hankuk Steel financial ratios help investors to determine whether Hankuk 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 Hankuk with respect to the benefits of owning Hankuk Steel security.