Ajusteel (Korea) Market Value
| 139990 Stock | 4,060 50.00 1.25% |
| Symbol | Ajusteel |
Ajusteel '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 Ajusteel'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 Ajusteel.
| 11/14/2024 |
| 12/14/2024 |
If you would invest 0.00 in Ajusteel on November 14, 2024 and sell it all today you would earn a total of 0.00 from holding Ajusteel Co or generate 0.0% return on investment in Ajusteel over 30 days. Ajusteel is related to or competes with Dong Il, Seah Steel, Ni Steel, Korea Steel, Bookook Steel, Finebesteel, and Han Kook. More
Ajusteel 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 Ajusteel'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 Ajusteel Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 10.79 | |||
| Value At Risk | (3.22) | |||
| Potential Upside | 2.34 |
Ajusteel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ajusteel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ajusteel's standard deviation. In reality, there are many statistical measures that can use Ajusteel historical prices to predict the future Ajusteel's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.39) | |||
| Total Risk Alpha | (0.58) | |||
| Treynor Ratio | (0.62) |
Ajusteel Backtested Returns
Ajusteel secures Sharpe Ratio (or Efficiency) of -0.2, which signifies that the company had a -0.2% return per unit of risk over the last 3 months. Ajusteel Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Ajusteel's Risk Adjusted Performance of (0.12), mean deviation of 1.43, and Standard Deviation of 1.93 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.56, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Ajusteel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Ajusteel is expected to be smaller as well. At this point, Ajusteel has a negative expected return of -0.39%. Please make sure to confirm Ajusteel's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Ajusteel performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.60 |
Good predictability
Ajusteel Co has good predictability. Overlapping area represents the amount of predictability between Ajusteel time series from 14th of November 2024 to 29th of November 2024 and 29th of November 2024 to 14th 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 Ajusteel price movement. The serial correlation of 0.6 indicates that roughly 60.0% of current Ajusteel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.6 | |
| Spearman Rank Test | 0.48 | |
| Residual Average | 0.0 | |
| Price Variance | 15.5 K |
Ajusteel lagged returns against current returns
Autocorrelation, which is Ajusteel 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 Ajusteel's stock expected returns. We can calculate the autocorrelation of Ajusteel returns to help us make a trade decision. For example, suppose you find that Ajusteel 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 |
Ajusteel 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 Ajusteel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ajusteel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ajusteel stock over time.
Current vs Lagged Prices |
| Timeline |
Ajusteel Lagged Returns
When evaluating Ajusteel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ajusteel stock have on its future price. Ajusteel 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, Ajusteel autocorrelation shows the relationship between Ajusteel stock current value and its past values and can show if there is a momentum factor associated with investing in Ajusteel Co.
Regressed Prices |
| Timeline |
Pair Trading with Ajusteel
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 Ajusteel 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 Ajusteel will appreciate offsetting losses from the drop in the long position's value.Moving together with Ajusteel Stock
Moving against Ajusteel Stock
The ability to find closely correlated positions to Ajusteel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ajusteel 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 Ajusteel - 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 Ajusteel Co to buy it.
The correlation of Ajusteel 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 Ajusteel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ajusteel 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 Ajusteel 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 Ajusteel Stock
Ajusteel financial ratios help investors to determine whether Ajusteel 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 Ajusteel with respect to the benefits of owning Ajusteel security.