Sunnic Technology (Taiwan) Market Value
| 3360 Stock | TWD 15.60 0.10 0.64% |
| Symbol | Sunnic |
Sunnic Technology '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 Sunnic Technology'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 Sunnic Technology.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in Sunnic Technology on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding Sunnic Technology Merchandise or generate 0.0% return on investment in Sunnic Technology over 360 days. Sunnic Technology is related to or competes with Sitronix Technology, Kinsus Interconnect, WiseChip Semiconductor, Novatek Microelectronics, Leader Electronics, Information Technology, and Kinko Optical. Sunnic Technology Merchandise Inc provides image processing and optoelectronic products in Taiwan More
Sunnic Technology 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 Sunnic Technology'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 Sunnic Technology Merchandise upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.84 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 16.05 | |||
| Value At Risk | (4.88) | |||
| Potential Upside | 5.49 |
Sunnic Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sunnic Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sunnic Technology's standard deviation. In reality, there are many statistical measures that can use Sunnic Technology historical prices to predict the future Sunnic Technology's volatility.| Risk Adjusted Performance | 0.021 | |||
| Jensen Alpha | 0.0076 | |||
| Total Risk Alpha | (0.40) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.1386 |
Sunnic Technology Backtested Returns
At this stage we consider Sunnic Stock to be not too volatile. Sunnic Technology owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0424, which indicates the firm had a 0.0424% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Sunnic Technology Merchandise, which you can use to evaluate the volatility of the company. Please validate Sunnic Technology's Semi Deviation of 2.57, risk adjusted performance of 0.021, and Coefficient Of Variation of 5626.52 to confirm if the risk estimate we provide is consistent with the expected return of 0.13%. Sunnic Technology has a performance score of 3 on a scale of 0 to 100. The entity has a beta of 0.31, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Sunnic Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sunnic Technology is expected to be smaller as well. Sunnic Technology right now has a risk of 3.0%. Please validate Sunnic Technology downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Sunnic Technology will be following its existing price patterns.
Auto-correlation | -0.41 |
Modest reverse predictability
Sunnic Technology Merchandise has modest reverse predictability. Overlapping area represents the amount of predictability between Sunnic Technology time series from 9th of December 2023 to 6th of June 2024 and 6th of June 2024 to 3rd 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 Sunnic Technology price movement. The serial correlation of -0.41 indicates that just about 41.0% of current Sunnic Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.41 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 2.31 |
Sunnic Technology lagged returns against current returns
Autocorrelation, which is Sunnic Technology 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 Sunnic Technology's stock expected returns. We can calculate the autocorrelation of Sunnic Technology returns to help us make a trade decision. For example, suppose you find that Sunnic Technology 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 |
Sunnic Technology 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 Sunnic Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sunnic Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sunnic Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Sunnic Technology Lagged Returns
When evaluating Sunnic Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sunnic Technology stock have on its future price. Sunnic Technology 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, Sunnic Technology autocorrelation shows the relationship between Sunnic Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Sunnic Technology Merchandise.
Regressed Prices |
| Timeline |
Pair Trading with Sunnic Technology
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 Sunnic Technology 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 Sunnic Technology will appreciate offsetting losses from the drop in the long position's value.Moving against Sunnic Stock
The ability to find closely correlated positions to Sunnic Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sunnic Technology 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 Sunnic Technology - 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 Sunnic Technology Merchandise to buy it.
The correlation of Sunnic Technology 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 Sunnic Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sunnic Technology 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 Sunnic Technology 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 Sunnic Stock Analysis
When running Sunnic Technology's price analysis, check to measure Sunnic Technology'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 Sunnic Technology is operating at the current time. Most of Sunnic Technology's value examination focuses on studying past and present price action to predict the probability of Sunnic Technology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Sunnic Technology's price. Additionally, you may evaluate how the addition of Sunnic Technology to your portfolios can decrease your overall portfolio volatility.