BooKook Steel (Korea) Market Value
| 026940 Stock | 2,490 85.00 3.53% |
| Symbol | BooKook |
BooKook 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 BooKook 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 BooKook Steel.
| 10/27/2023 |
| 12/20/2024 |
If you would invest 0.00 in BooKook Steel on October 27, 2023 and sell it all today you would earn a total of 0.00 from holding BooKook Steel Co or generate 0.0% return on investment in BooKook Steel over 420 days. BooKook Steel is related to or competes with KPX Green, Dongbu Insurance, Korea Petro, Youngsin Metal, Samsung Life, Dongnam Chemical, and Lotte Fine. More
BooKook 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 BooKook 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 BooKook Steel Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.88 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 6.98 | |||
| Value At Risk | (2.70) | |||
| Potential Upside | 2.71 |
BooKook Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BooKook Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BooKook Steel's standard deviation. In reality, there are many statistical measures that can use BooKook Steel historical prices to predict the future BooKook Steel's volatility.| Risk Adjusted Performance | 0.0077 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | (0.01) |
BooKook Steel Backtested Returns
BooKook Steel secures Sharpe Ratio (or Efficiency) of -0.0077, which signifies that the company had a -0.0077% return per unit of risk over the last 3 months. BooKook Steel Co exposes thirty different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BooKook Steel's Risk Adjusted Performance of 0.0077, mean deviation of 1.33, and Downside Deviation of 1.88 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.41, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, BooKook Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding BooKook Steel is expected to be smaller as well. At this point, BooKook Steel has a negative expected return of -0.0146%. Please make sure to confirm BooKook Steel's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if BooKook Steel performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.51 |
Modest predictability
BooKook Steel Co has modest predictability. Overlapping area represents the amount of predictability between BooKook Steel time series from 27th of October 2023 to 24th of May 2024 and 24th of May 2024 to 20th of December 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 BooKook Steel price movement. The serial correlation of 0.51 indicates that about 51.0% of current BooKook Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 59.5 K |
BooKook Steel lagged returns against current returns
Autocorrelation, which is BooKook 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 BooKook Steel's stock expected returns. We can calculate the autocorrelation of BooKook Steel returns to help us make a trade decision. For example, suppose you find that BooKook 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 |
BooKook 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 BooKook Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BooKook Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BooKook Steel stock over time.
Current vs Lagged Prices |
| Timeline |
BooKook Steel Lagged Returns
When evaluating BooKook Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BooKook Steel stock have on its future price. BooKook 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, BooKook Steel autocorrelation shows the relationship between BooKook Steel stock current value and its past values and can show if there is a momentum factor associated with investing in BooKook Steel Co.
Regressed Prices |
| Timeline |
Pair Trading with BooKook 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 BooKook 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 BooKook Steel will appreciate offsetting losses from the drop in the long position's value.Moving together with BooKook Stock
Moving against BooKook Stock
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| 0.7 | 035900 | JYP Entertainment | PairCorr |
| 0.7 | 003535 | Hanwha InvestmentSecuri | PairCorr |
| 0.7 | 122870 | YG Entertainment | PairCorr |
The ability to find closely correlated positions to BooKook 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 BooKook 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 BooKook 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 BooKook Steel Co to buy it.
The correlation of BooKook 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 BooKook Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BooKook 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 BooKook 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 BooKook Stock
BooKook Steel financial ratios help investors to determine whether BooKook 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 BooKook with respect to the benefits of owning BooKook Steel security.