Dongil Metal (Korea) Market Value
| 109860 Stock | KRW 8,420 10.00 0.12% |
| Symbol | Dongil |
Dongil Metal '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 Dongil Metal'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 Dongil Metal.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Dongil Metal on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Dongil Metal Co or generate 0.0% return on investment in Dongil Metal over 30 days. Dongil Metal is related to or competes with LG Chemicals, POSCO Holdings, Hanwha Solutions, Lotte Chemical, Hyundai Steel, Ecopro, and Dongkuk Steel. Dongil Metal Co., Ltd. engages in the production and sale of steel casting solutions in South Korea and internationally. More
Dongil Metal 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 Dongil Metal'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 Dongil Metal Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.35) | |||
| Maximum Drawdown | 4.16 | |||
| Value At Risk | (1.13) | |||
| Potential Upside | 1.04 |
Dongil Metal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Dongil Metal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Dongil Metal's standard deviation. In reality, there are many statistical measures that can use Dongil Metal historical prices to predict the future Dongil Metal's volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.26) | |||
| Treynor Ratio | (0.78) |
Dongil Metal Backtested Returns
Dongil Metal secures Sharpe Ratio (or Efficiency) of -0.21, which denotes the company had a -0.21% return per unit of risk over the last 3 months. Dongil Metal Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Dongil Metal's Mean Deviation of 0.5094, standard deviation of 0.7331, and Variance of 0.5374 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.18, which means not very significant fluctuations relative to the market. As returns on the market increase, Dongil Metal's returns are expected to increase less than the market. However, during the bear market, the loss of holding Dongil Metal is expected to be smaller as well. At this point, Dongil Metal has a negative expected return of -0.15%. Please make sure to confirm Dongil Metal's coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Dongil Metal performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.75 |
Almost perfect reverse predictability
Dongil Metal Co has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Dongil Metal time series from 30th of October 2024 to 14th of November 2024 and 14th of November 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 Dongil Metal price movement. The serial correlation of -0.75 indicates that around 75.0% of current Dongil Metal price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.75 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 7019.83 |
Dongil Metal lagged returns against current returns
Autocorrelation, which is Dongil Metal 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 Dongil Metal's stock expected returns. We can calculate the autocorrelation of Dongil Metal returns to help us make a trade decision. For example, suppose you find that Dongil Metal 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 |
Dongil Metal 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 Dongil Metal stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Dongil Metal stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Dongil Metal stock over time.
Current vs Lagged Prices |
| Timeline |
Dongil Metal Lagged Returns
When evaluating Dongil Metal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Dongil Metal stock have on its future price. Dongil Metal 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, Dongil Metal autocorrelation shows the relationship between Dongil Metal stock current value and its past values and can show if there is a momentum factor associated with investing in Dongil Metal Co.
Regressed Prices |
| Timeline |
Pair Trading with Dongil Metal
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 Dongil Metal 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 Dongil Metal will appreciate offsetting losses from the drop in the long position's value.Moving together with Dongil Stock
| 0.7 | 005490 | POSCO Holdings | PairCorr |
| 0.93 | 009830 | Hanwha Solutions | PairCorr |
| 0.64 | 004020 | Hyundai Steel | PairCorr |
Moving against Dongil Stock
| 0.7 | 032830 | Samsung Life | PairCorr |
| 0.69 | 024110 | Industrial Bank | PairCorr |
| 0.67 | 105560 | KB Financial Group | PairCorr |
| 0.66 | 001430 | SeAH Bestee | PairCorr |
| 0.46 | 316140 | Woori Financial Group | PairCorr |
The ability to find closely correlated positions to Dongil Metal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dongil Metal 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 Dongil Metal - 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 Dongil Metal Co to buy it.
The correlation of Dongil Metal 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 Dongil Metal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dongil Metal 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 Dongil Metal 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 Dongil Stock
Dongil Metal financial ratios help investors to determine whether Dongil 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 Dongil with respect to the benefits of owning Dongil Metal security.