Shin Steel (Korea) Market Value
| 162300 Stock | 2,430 40.00 1.67% |
| Symbol | Shin |
Please note, there is a significant difference between Shin Steel's value and its price as these two are different measures arrived at by different means. Investors typically determine if Shin Steel is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Shin Steel's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Shin 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 Shin 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 Shin Steel.
| 11/03/2024 |
| 12/03/2024 |
If you would invest 0.00 in Shin Steel on November 3, 2024 and sell it all today you would earn a total of 0.00 from holding Shin Steel Co or generate 0.0% return on investment in Shin Steel over 30 days. Shin Steel is related to or competes with Samsung Electronics, Samsung Electronics, LG Energy, SK Hynix, Samsung Biologics, LG Chem, and LG Chemicals. More
Shin 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 Shin 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 Shin Steel Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 12.0 | |||
| Value At Risk | (5.03) | |||
| Potential Upside | 3.37 |
Shin Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Shin Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Shin Steel's standard deviation. In reality, there are many statistical measures that can use Shin Steel historical prices to predict the future Shin Steel's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.55) | |||
| Treynor Ratio | (0.77) |
Shin Steel Backtested Returns
Shin Steel owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0234, which indicates the firm had a -0.0234% return per unit of risk over the last 3 months. Shin Steel Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Shin Steel's Coefficient Of Variation of (1,597), variance of 6.57, and Risk Adjusted Performance of (0.04) to confirm the risk estimate we provide. The entity has a beta of 0.22, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Shin Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Shin Steel is expected to be smaller as well. At this point, Shin Steel has a negative expected return of -0.0619%. Please make sure to validate Shin Steel's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Shin Steel performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.53 |
Good reverse predictability
Shin Steel Co has good reverse predictability. Overlapping area represents the amount of predictability between Shin Steel time series from 3rd of November 2024 to 18th of November 2024 and 18th of November 2024 to 3rd 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 Shin Steel price movement. The serial correlation of -0.53 indicates that about 53.0% of current Shin Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.53 | |
| Spearman Rank Test | -0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 2765.29 |
Shin Steel lagged returns against current returns
Autocorrelation, which is Shin 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 Shin Steel's stock expected returns. We can calculate the autocorrelation of Shin Steel returns to help us make a trade decision. For example, suppose you find that Shin 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 |
Shin 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 Shin Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Shin Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Shin Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Shin Steel Lagged Returns
When evaluating Shin Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Shin Steel stock have on its future price. Shin 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, Shin Steel autocorrelation shows the relationship between Shin Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Shin Steel Co.
Regressed Prices |
| Timeline |
Pair Trading with Shin 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 Shin 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 Shin Steel will appreciate offsetting losses from the drop in the long position's value.Moving against Shin Stock
The ability to find closely correlated positions to Shin 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 Shin 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 Shin 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 Shin Steel Co to buy it.
The correlation of Shin 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 Shin Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shin 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 Shin 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 Shin Stock
Shin Steel financial ratios help investors to determine whether Shin 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 Shin with respect to the benefits of owning Shin Steel security.