Gyeongnam Steel (Korea) Market Value
| 039240 Stock | KRW 2,935 30.00 1.01% |
| Symbol | Gyeongnam |
Gyeongnam 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 Gyeongnam 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 Gyeongnam Steel.
| 09/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Gyeongnam Steel on September 30, 2024 and sell it all today you would earn a total of 0.00 from holding Gyeongnam Steel Co or generate 0.0% return on investment in Gyeongnam Steel over 60 days. Gyeongnam Steel is related to or competes with Kbi Metal, Heungkuk Metaltech, Samlip General, CJ Seafood, and Kukil Metal. Gyeongnam Steel Co., Ltd manufactures and sells steel products in South Korea More
Gyeongnam 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 Gyeongnam 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 Gyeongnam Steel Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.38 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 6.94 | |||
| Value At Risk | (2.15) | |||
| Potential Upside | 2.51 |
Gyeongnam Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Gyeongnam Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Gyeongnam Steel's standard deviation. In reality, there are many statistical measures that can use Gyeongnam Steel historical prices to predict the future Gyeongnam Steel's volatility.| Risk Adjusted Performance | 0.0169 | |||
| Jensen Alpha | 0.0356 | |||
| Total Risk Alpha | (0.20) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | (0.06) |
Gyeongnam Steel Backtested Returns
At this point, Gyeongnam Steel is very steady. Gyeongnam Steel holds Efficiency (Sharpe) Ratio of 0.0435, which attests that the entity had a 0.0435% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Gyeongnam Steel, which you can use to evaluate the volatility of the firm. Please check out Gyeongnam Steel's Risk Adjusted Performance of 0.0169, downside deviation of 1.38, and Market Risk Adjusted Performance of (0.05) to validate if the risk estimate we provide is consistent with the expected return of 0.0645%. Gyeongnam Steel has a performance score of 3 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of -0.2, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Gyeongnam Steel are expected to decrease at a much lower rate. During the bear market, Gyeongnam Steel is likely to outperform the market. Gyeongnam Steel right now retains a risk of 1.48%. Please check out Gyeongnam Steel mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to decide if Gyeongnam Steel will be following its current trending patterns.
Auto-correlation | 0.19 |
Very weak predictability
Gyeongnam Steel Co has very weak predictability. Overlapping area represents the amount of predictability between Gyeongnam Steel time series from 30th of September 2024 to 30th of October 2024 and 30th of October 2024 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 Gyeongnam Steel price movement. The serial correlation of 0.19 indicates that over 19.0% of current Gyeongnam Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.19 | |
| Spearman Rank Test | -0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 10.6 K |
Gyeongnam Steel lagged returns against current returns
Autocorrelation, which is Gyeongnam 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 Gyeongnam Steel's stock expected returns. We can calculate the autocorrelation of Gyeongnam Steel returns to help us make a trade decision. For example, suppose you find that Gyeongnam 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 |
Gyeongnam 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 Gyeongnam Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Gyeongnam Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Gyeongnam Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Gyeongnam Steel Lagged Returns
When evaluating Gyeongnam Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Gyeongnam Steel stock have on its future price. Gyeongnam 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, Gyeongnam Steel autocorrelation shows the relationship between Gyeongnam Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Gyeongnam Steel Co.
Regressed Prices |
| Timeline |
Pair Trading with Gyeongnam 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 Gyeongnam 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 Gyeongnam Steel will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Gyeongnam 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 Gyeongnam 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 Gyeongnam 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 Gyeongnam Steel Co to buy it.
The correlation of Gyeongnam 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 Gyeongnam Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gyeongnam 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 Gyeongnam 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 Gyeongnam Stock
Gyeongnam Steel financial ratios help investors to determine whether Gyeongnam 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 Gyeongnam with respect to the benefits of owning Gyeongnam Steel security.