Solar Applied (Taiwan) Market Value
| 1785 Stock | TWD 59.50 0.80 1.36% |
| Symbol | Solar |
Solar Applied '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 Solar Applied'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 Solar Applied.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Solar Applied on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Solar Applied Materials or generate 0.0% return on investment in Solar Applied over 30 days. Solar Applied is related to or competes with Yang Ming, Wan Hai, Hsin Kuang, Evergreen Marine, and Ta Chen. More
Solar Applied 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 Solar Applied'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 Solar Applied Materials upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 12.99 | |||
| Value At Risk | (3.22) | |||
| Potential Upside | 4.75 |
Solar Applied Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Solar Applied's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Solar Applied's standard deviation. In reality, there are many statistical measures that can use Solar Applied historical prices to predict the future Solar Applied's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.1) | |||
| Total Risk Alpha | (0.49) | |||
| Treynor Ratio | (0.21) |
Solar Applied Materials Backtested Returns
Solar Applied Materials owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.074, which indicates the firm had a -0.074% return per unit of risk over the last 3 months. Solar Applied Materials exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Solar Applied's Risk Adjusted Performance of (0.01), variance of 6.71, and Coefficient Of Variation of (5,064) to confirm the risk estimate we provide. The entity has a beta of 0.3, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Solar Applied's returns are expected to increase less than the market. However, during the bear market, the loss of holding Solar Applied is expected to be smaller as well. At this point, Solar Applied Materials has a negative expected return of -0.19%. Please make sure to validate Solar Applied's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Solar Applied Materials performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.67 |
Good predictability
Solar Applied Materials has good predictability. Overlapping area represents the amount of predictability between Solar Applied time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Solar Applied Materials price movement. The serial correlation of 0.67 indicates that around 67.0% of current Solar Applied price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | -0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 1.61 |
Solar Applied Materials lagged returns against current returns
Autocorrelation, which is Solar Applied 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 Solar Applied's stock expected returns. We can calculate the autocorrelation of Solar Applied returns to help us make a trade decision. For example, suppose you find that Solar Applied 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 |
Solar Applied 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 Solar Applied stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Solar Applied stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Solar Applied stock over time.
Current vs Lagged Prices |
| Timeline |
Solar Applied Lagged Returns
When evaluating Solar Applied's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Solar Applied stock have on its future price. Solar Applied 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, Solar Applied autocorrelation shows the relationship between Solar Applied stock current value and its past values and can show if there is a momentum factor associated with investing in Solar Applied Materials.
Regressed Prices |
| Timeline |
Pair Trading with Solar Applied
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 Solar Applied 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 Solar Applied will appreciate offsetting losses from the drop in the long position's value.Moving together with Solar Stock
Moving against Solar Stock
The ability to find closely correlated positions to Solar Applied could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Solar Applied 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 Solar Applied - 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 Solar Applied Materials to buy it.
The correlation of Solar Applied 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 Solar Applied moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Solar Applied Materials 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 Solar Applied 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.Additional Tools for Solar Stock Analysis
When running Solar Applied's price analysis, check to measure Solar Applied's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Solar Applied is operating at the current time. Most of Solar Applied's value examination focuses on studying past and present price action to predict the probability of Solar Applied's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Solar Applied's price. Additionally, you may evaluate how the addition of Solar Applied to your portfolios can decrease your overall portfolio volatility.