  The nonequilibrium dynamic phase transition, in the kinetic Ising model in
presence of an oscillating magnetic field, has been studied both by Monte Carlo
simulation (in two dimension) and by solving the meanfield dynamical equation
of motion for the average magnetization. The temperature variations of
hysteretic loss (loop area) and the dynamic correlation have been studied near
the transition point. The transition point has been identified as the
minimum-correlation point. The hysteretic loss becomes maximum above the
transition point. An analytical formulation has been developed to analyse the
simulation results. A general relationship among hysteresis loop area, dynamic
order parameter and dynamic correlation has also been developed.
