Nankang Rubber (Taiwan) Market Value
| 2101 Stock | TWD 49.75 0.65 1.32% |
| Symbol | Nankang |
Nankang Rubber '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 Nankang Rubber'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 Nankang Rubber.
| 12/08/2023 |
| 12/02/2024 |
If you would invest 0.00 in Nankang Rubber on December 8, 2023 and sell it all today you would earn a total of 0.00 from holding Nankang Rubber Tire or generate 0.0% return on investment in Nankang Rubber over 360 days. Nankang Rubber is related to or competes with Tainan Spinning, Chia Her, WiseChip Semiconductor, Novatek Microelectronics, Leader Electronics, Information Technology, and Kinko Optical. ,Ltd. produces and sells tires in Taiwan and internationally More
Nankang Rubber 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 Nankang Rubber'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 Nankang Rubber Tire upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 10.75 | |||
| Value At Risk | (3.44) | |||
| Potential Upside | 3.7 |
Nankang Rubber Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nankang Rubber's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nankang Rubber's standard deviation. In reality, there are many statistical measures that can use Nankang Rubber historical prices to predict the future Nankang Rubber's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.49) | |||
| Treynor Ratio | 0.9369 |
Nankang Rubber Tire Backtested Returns
Nankang Rubber Tire has Sharpe Ratio of -0.0366, which conveys that the firm had a -0.0366% return per unit of risk over the last 3 months. Nankang Rubber exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nankang Rubber's Mean Deviation of 1.56, risk adjusted performance of (0.04), and Standard Deviation of 2.14 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.14, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nankang Rubber are expected to decrease at a much lower rate. During the bear market, Nankang Rubber is likely to outperform the market. At this point, Nankang Rubber Tire has a negative expected return of -0.0797%. Please make sure to verify Nankang Rubber's jensen alpha, treynor ratio, and the relationship between the information ratio and total risk alpha , to decide if Nankang Rubber Tire performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.67 |
Very good reverse predictability
Nankang Rubber Tire has very good reverse predictability. Overlapping area represents the amount of predictability between Nankang Rubber time series from 8th of December 2023 to 5th of June 2024 and 5th of June 2024 to 2nd 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 Nankang Rubber Tire price movement. The serial correlation of -0.67 indicates that around 67.0% of current Nankang Rubber price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.67 | |
| Spearman Rank Test | -0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 11.34 |
Nankang Rubber Tire lagged returns against current returns
Autocorrelation, which is Nankang Rubber 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 Nankang Rubber's stock expected returns. We can calculate the autocorrelation of Nankang Rubber returns to help us make a trade decision. For example, suppose you find that Nankang Rubber 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 |
Nankang Rubber 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 Nankang Rubber stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nankang Rubber stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nankang Rubber stock over time.
Current vs Lagged Prices |
| Timeline |
Nankang Rubber Lagged Returns
When evaluating Nankang Rubber's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nankang Rubber stock have on its future price. Nankang Rubber 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, Nankang Rubber autocorrelation shows the relationship between Nankang Rubber stock current value and its past values and can show if there is a momentum factor associated with investing in Nankang Rubber Tire.
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 Nankang Stock Analysis
When running Nankang Rubber's price analysis, check to measure Nankang Rubber'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 Nankang Rubber is operating at the current time. Most of Nankang Rubber's value examination focuses on studying past and present price action to predict the probability of Nankang Rubber's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nankang Rubber's price. Additionally, you may evaluate how the addition of Nankang Rubber to your portfolios can decrease your overall portfolio volatility.