Higher Way (Taiwan) Market Value
| 3268 Stock | TWD 23.85 0.25 1.04% |
| Symbol | Higher |
Higher Way '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 Higher Way'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 Higher Way.
| 10/13/2024 |
| 12/12/2024 |
If you would invest 0.00 in Higher Way on October 13, 2024 and sell it all today you would earn a total of 0.00 from holding Higher Way Electronic or generate 0.0% return on investment in Higher Way over 60 days. Higher Way is related to or competes with WIN Semiconductors, GlobalWafers, Novatek Microelectronics, Ruentex Development, WiseChip Semiconductor, Leader Electronics, and Information Technology. More
Higher Way 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 Higher Way'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 Higher Way Electronic upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 13.05 | |||
| Value At Risk | (2.96) | |||
| Potential Upside | 3.05 |
Higher Way Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Higher Way's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Higher Way's standard deviation. In reality, there are many statistical measures that can use Higher Way historical prices to predict the future Higher Way's volatility.| Risk Adjusted Performance | 1.0E-4 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.35) | |||
| Treynor Ratio | (0.24) |
Higher Way Electronic Backtested Returns
At this stage we consider Higher Stock to be very steady. Higher Way Electronic holds Efficiency (Sharpe) Ratio of 0.0164, which attests that the entity had a 0.0164% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Higher Way Electronic, which you can use to evaluate the volatility of the firm. Please check out Higher Way's Market Risk Adjusted Performance of (0.23), standard deviation of 2.03, and Risk Adjusted Performance of 1.0E-4 to validate if the risk estimate we provide is consistent with the expected return of 0.0327%. Higher Way has a performance score of 1 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.12, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Higher Way's returns are expected to increase less than the market. However, during the bear market, the loss of holding Higher Way is expected to be smaller as well. Higher Way Electronic right now retains a risk of 2.0%. Please check out Higher Way market risk adjusted performance, coefficient of variation, information ratio, as well as the relationship between the mean deviation and standard deviation , to decide if Higher Way will be following its current trending patterns.
Auto-correlation | -0.15 |
Insignificant reverse predictability
Higher Way Electronic has insignificant reverse predictability. Overlapping area represents the amount of predictability between Higher Way time series from 13th of October 2024 to 12th of November 2024 and 12th of November 2024 to 12th 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 Higher Way Electronic price movement. The serial correlation of -0.15 indicates that less than 15.0% of current Higher Way price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.15 | |
| Spearman Rank Test | -0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.21 |
Higher Way Electronic lagged returns against current returns
Autocorrelation, which is Higher Way 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 Higher Way's stock expected returns. We can calculate the autocorrelation of Higher Way returns to help us make a trade decision. For example, suppose you find that Higher Way 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 |
Higher Way 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 Higher Way stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Higher Way stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Higher Way stock over time.
Current vs Lagged Prices |
| Timeline |
Higher Way Lagged Returns
When evaluating Higher Way's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Higher Way stock have on its future price. Higher Way 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, Higher Way autocorrelation shows the relationship between Higher Way stock current value and its past values and can show if there is a momentum factor associated with investing in Higher Way Electronic.
Regressed Prices |
| Timeline |
Pair Trading with Higher Way
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 Higher Way 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 Higher Way will appreciate offsetting losses from the drop in the long position's value.Moving together with Higher Stock
Moving against Higher Stock
The ability to find closely correlated positions to Higher Way could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Higher Way 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 Higher Way - 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 Higher Way Electronic to buy it.
The correlation of Higher Way 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 Higher Way moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Higher Way Electronic 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 Higher Way 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 Higher Stock Analysis
When running Higher Way's price analysis, check to measure Higher Way'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 Higher Way is operating at the current time. Most of Higher Way's value examination focuses on studying past and present price action to predict the probability of Higher Way's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Higher Way's price. Additionally, you may evaluate how the addition of Higher Way to your portfolios can decrease your overall portfolio volatility.