Hi Sharp (Taiwan) Market Value
| 3128 Stock | TWD 27.50 0.05 0.18% |
| Symbol | 3128 |
Hi Sharp '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 Hi Sharp'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 Hi Sharp.
| 07/02/2024 |
| 12/29/2024 |
If you would invest 0.00 in Hi Sharp on July 2, 2024 and sell it all today you would earn a total of 0.00 from holding Hi Sharp Electronics or generate 0.0% return on investment in Hi Sharp over 180 days. Hi Sharp is related to or competes with Taiwan Secom, Vivotek, Taiwan Shin, Taiwan Fu, AVer Information, GeoVision, and Everspring Industry. More
Hi Sharp 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 Hi Sharp'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 Hi Sharp Electronics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 18.77 | |||
| Value At Risk | (1.87) | |||
| Potential Upside | 1.27 |
Hi Sharp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hi Sharp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hi Sharp's standard deviation. In reality, there are many statistical measures that can use Hi Sharp historical prices to predict the future Hi Sharp's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.15) | |||
| Treynor Ratio | (0.46) |
Hi Sharp Electronics Backtested Returns
Hi Sharp Electronics retains Efficiency (Sharpe Ratio) of -0.0459, which attests that the entity had a -0.0459% return per unit of price deviation over the last 3 months. Hi Sharp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hi Sharp's Information Ratio of (0.06), market risk adjusted performance of (0.45), and Coefficient Of Variation of (2,128) to validate the risk estimate we provide. The company owns a Beta (Systematic Risk) of 0.21, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hi Sharp's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hi Sharp is expected to be smaller as well. At this point, Hi Sharp Electronics has a negative expected return of -0.0857%. Please make sure to check out Hi Sharp's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Hi Sharp Electronics performance from the past will be repeated in the future.
Auto-correlation | 0.47 |
Average predictability
Hi Sharp Electronics has average predictability. Overlapping area represents the amount of predictability between Hi Sharp time series from 2nd of July 2024 to 30th of September 2024 and 30th of September 2024 to 29th 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 Hi Sharp Electronics price movement. The serial correlation of 0.47 indicates that about 47.0% of current Hi Sharp price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.47 | |
| Spearman Rank Test | 0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 0.53 |
Hi Sharp Electronics lagged returns against current returns
Autocorrelation, which is Hi Sharp 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 Hi Sharp's stock expected returns. We can calculate the autocorrelation of Hi Sharp returns to help us make a trade decision. For example, suppose you find that Hi Sharp 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 |
Hi Sharp 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 Hi Sharp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hi Sharp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hi Sharp stock over time.
Current vs Lagged Prices |
| Timeline |
Hi Sharp Lagged Returns
When evaluating Hi Sharp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hi Sharp stock have on its future price. Hi Sharp 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, Hi Sharp autocorrelation shows the relationship between Hi Sharp stock current value and its past values and can show if there is a momentum factor associated with investing in Hi Sharp Electronics.
Regressed Prices |
| Timeline |
Pair Trading with Hi Sharp
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 Hi Sharp 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 Hi Sharp will appreciate offsetting losses from the drop in the long position's value.Moving together with 3128 Stock
| 0.62 | 9925 | Taiwan Shin Kong | PairCorr |
| 0.64 | 9924 | Taiwan Fu Hsing | PairCorr |
| 0.62 | 3669 | AVer Information | PairCorr |
Moving against 3128 Stock
| 0.66 | 2356 | Inventec Corp | PairCorr |
| 0.65 | 2354 | Foxconn Technology | PairCorr |
| 0.6 | 3443 | Global Unichip Corp | PairCorr |
| 0.55 | 3036A | WT Microelectronics | PairCorr |
| 0.53 | 6669 | Wiwynn Corp | PairCorr |
The ability to find closely correlated positions to Hi Sharp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hi Sharp 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 Hi Sharp - 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 Hi Sharp Electronics to buy it.
The correlation of Hi Sharp 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 Hi Sharp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hi Sharp Electronics 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 Hi Sharp 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 3128 Stock Analysis
When running Hi Sharp's price analysis, check to measure Hi Sharp'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 Hi Sharp is operating at the current time. Most of Hi Sharp's value examination focuses on studying past and present price action to predict the probability of Hi Sharp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hi Sharp's price. Additionally, you may evaluate how the addition of Hi Sharp to your portfolios can decrease your overall portfolio volatility.