Dongil Steel (Korea) Market Value
| 023790 Stock | KRW 1,045 25.00 2.45% |
| Symbol | Dongil |
Dongil 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 Dongil 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 Dongil Steel.
| 09/12/2024 |
| 12/11/2024 |
If you would invest 0.00 in Dongil Steel on September 12, 2024 and sell it all today you would earn a total of 0.00 from holding Dongil Steel Co or generate 0.0% return on investment in Dongil Steel over 90 days. Dongil Steel is related to or competes with Keum Kang, PJ Metal, Samhyun Steel, Gyeongnam Steel, Jeil Steel, and Wonil Special. Dongil Steel Co., Ltd. manufactures and sells iron and steel products for various industries in South Korea More
Dongil 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 Dongil 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 Dongil Steel Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 9.24 | |||
| Value At Risk | (2.25) | |||
| Potential Upside | 2.45 |
Dongil Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Dongil Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Dongil Steel's standard deviation. In reality, there are many statistical measures that can use Dongil Steel historical prices to predict the future Dongil Steel's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.28) | |||
| Total Risk Alpha | (0.46) | |||
| Treynor Ratio | (0.37) |
Dongil Steel Backtested Returns
Dongil Steel secures Sharpe Ratio (or Efficiency) of -0.16, which denotes the company had a -0.16% return per unit of risk over the last 3 months. Dongil Steel Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Dongil Steel's Mean Deviation of 1.1, variance of 2.36, and Standard Deviation of 1.54 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.58, which means possible diversification benefits within a given portfolio. As returns on the market increase, Dongil Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Dongil Steel is expected to be smaller as well. At this point, Dongil Steel has a negative expected return of -0.26%. Please make sure to confirm Dongil Steel'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 Steel performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.03 |
Very weak reverse predictability
Dongil Steel Co has very weak reverse predictability. Overlapping area represents the amount of predictability between Dongil Steel time series from 12th of September 2024 to 27th of October 2024 and 27th of October 2024 to 11th 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 Dongil Steel price movement. The serial correlation of -0.03 indicates that only 3.0% of current Dongil Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.03 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 1658.32 |
Dongil Steel lagged returns against current returns
Autocorrelation, which is Dongil 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 Dongil Steel's stock expected returns. We can calculate the autocorrelation of Dongil Steel returns to help us make a trade decision. For example, suppose you find that Dongil 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 |
Dongil 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 Dongil Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Dongil Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Dongil Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Dongil Steel Lagged Returns
When evaluating Dongil Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Dongil Steel stock have on its future price. Dongil 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, Dongil Steel autocorrelation shows the relationship between Dongil Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Dongil Steel Co.
Regressed Prices |
| Timeline |
Pair Trading with Dongil 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 Dongil 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 Dongil Steel will appreciate offsetting losses from the drop in the long position's value.Moving together with Dongil Stock
Moving against Dongil Stock
| 0.57 | 039240 | Gyeongnam Steel | PairCorr |
| 0.42 | 023440 | Jeil Steel Mfg | PairCorr |
| 0.33 | 024110 | Industrial Bank | PairCorr |
The ability to find closely correlated positions to Dongil 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 Dongil 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 Dongil 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 Dongil Steel Co to buy it.
The correlation of Dongil 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 Dongil Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dongil 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 Dongil 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 Dongil Stock
Dongil Steel 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 Steel security.