Hai Kwang (Taiwan) Market Value
| 2038 Stock | TWD 15.70 0.15 0.96% |
| Symbol | Hai |
Hai Kwang '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 Hai Kwang'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 Hai Kwang.
| 10/26/2024 |
| 12/25/2024 |
If you would invest 0.00 in Hai Kwang on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Hai Kwang Enterprise or generate 0.0% return on investment in Hai Kwang over 60 days. Hai Kwang is related to or competes with Formosa Chemicals, China Steel, Formosa Petrochemical, and Cathay Financial. Hai Kwang Enterprise Corporation manufactures and sells steel and billets in Taiwan and internationally More
Hai Kwang 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 Hai Kwang'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 Hai Kwang Enterprise upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 15.26 | |||
| Value At Risk | (2.70) | |||
| Potential Upside | 3.01 |
Hai Kwang Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hai Kwang's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hai Kwang's standard deviation. In reality, there are many statistical measures that can use Hai Kwang historical prices to predict the future Hai Kwang's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.25) | |||
| Treynor Ratio | (1.82) |
Hai Kwang Enterprise Backtested Returns
Hai Kwang Enterprise holds Efficiency (Sharpe) Ratio of -0.0708, which attests that the entity had a -0.0708% return per unit of risk over the last 3 months. Hai Kwang Enterprise exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hai Kwang's Standard Deviation of 2.09, risk adjusted performance of (0.05), and Market Risk Adjusted Performance of (1.81) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.089, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hai Kwang's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hai Kwang is expected to be smaller as well. At this point, Hai Kwang Enterprise has a negative expected return of -0.15%. Please make sure to check out Hai Kwang's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Hai Kwang Enterprise performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.83 |
Very good predictability
Hai Kwang Enterprise has very good predictability. Overlapping area represents the amount of predictability between Hai Kwang time series from 26th of October 2024 to 25th of November 2024 and 25th of November 2024 to 25th 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 Hai Kwang Enterprise price movement. The serial correlation of 0.83 indicates that around 83.0% of current Hai Kwang price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.83 | |
| Spearman Rank Test | 0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 0.39 |
Hai Kwang Enterprise lagged returns against current returns
Autocorrelation, which is Hai Kwang 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 Hai Kwang's stock expected returns. We can calculate the autocorrelation of Hai Kwang returns to help us make a trade decision. For example, suppose you find that Hai Kwang 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 |
Hai Kwang 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 Hai Kwang stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hai Kwang stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hai Kwang stock over time.
Current vs Lagged Prices |
| Timeline |
Hai Kwang Lagged Returns
When evaluating Hai Kwang's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hai Kwang stock have on its future price. Hai Kwang 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, Hai Kwang autocorrelation shows the relationship between Hai Kwang stock current value and its past values and can show if there is a momentum factor associated with investing in Hai Kwang Enterprise.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Hai Stock Analysis
When running Hai Kwang's price analysis, check to measure Hai Kwang'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 Hai Kwang is operating at the current time. Most of Hai Kwang's value examination focuses on studying past and present price action to predict the probability of Hai Kwang's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hai Kwang's price. Additionally, you may evaluate how the addition of Hai Kwang to your portfolios can decrease your overall portfolio volatility.