Pacific Hospital (Taiwan) Market Value
| 4126 Stock | TWD 90.90 1.30 1.45% |
| Symbol | Pacific |
Pacific Hospital '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 Pacific Hospital'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 Pacific Hospital.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Pacific Hospital on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Pacific Hospital Supply or generate 0.0% return on investment in Pacific Hospital over 30 days. Pacific Hospital is related to or competes with StShine Optical, Bioteque, United Orthopedic, TTY Biopharm, and Apex Biotechnology. Pacific Hospital Supply Co., Ltd., together with its subsidiaries, manufactures, processes, and sells medical disposable... More
Pacific Hospital 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 Pacific Hospital'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 Pacific Hospital Supply upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6451 | |||
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 3.4 | |||
| Value At Risk | (0.89) | |||
| Potential Upside | 1.13 |
Pacific Hospital Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pacific Hospital's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pacific Hospital's standard deviation. In reality, there are many statistical measures that can use Pacific Hospital historical prices to predict the future Pacific Hospital's volatility.| Risk Adjusted Performance | 0.0761 | |||
| Jensen Alpha | 0.0342 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.08) | |||
| Treynor Ratio | 0.29 |
Pacific Hospital Supply Backtested Returns
At this stage we consider Pacific Stock to be very steady. Pacific Hospital Supply maintains Sharpe Ratio (i.e., Efficiency) of 0.13, which implies the firm had a 0.13% return per unit of risk over the last 3 months. We have found thirty technical indicators for Pacific Hospital Supply, which you can use to evaluate the volatility of the company. Please check Pacific Hospital's Risk Adjusted Performance of 0.0761, coefficient of variation of 971.77, and Semi Deviation of 0.4609 to confirm if the risk estimate we provide is consistent with the expected return of 0.0751%. Pacific Hospital has a performance score of 9 on a scale of 0 to 100. The company holds a Beta of 0.18, which implies not very significant fluctuations relative to the market. As returns on the market increase, Pacific Hospital's returns are expected to increase less than the market. However, during the bear market, the loss of holding Pacific Hospital is expected to be smaller as well. Pacific Hospital Supply right now holds a risk of 0.6%. Please check Pacific Hospital Supply downside deviation, standard deviation, and the relationship between the semi deviation and coefficient of variation , to decide if Pacific Hospital Supply will be following its historical price patterns.
Auto-correlation | 0.55 |
Modest predictability
Pacific Hospital Supply has modest predictability. Overlapping area represents the amount of predictability between Pacific Hospital time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th 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 Pacific Hospital Supply price movement. The serial correlation of 0.55 indicates that about 55.0% of current Pacific Hospital price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.55 | |
| Spearman Rank Test | 0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 0.57 |
Pacific Hospital Supply lagged returns against current returns
Autocorrelation, which is Pacific Hospital 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 Pacific Hospital's stock expected returns. We can calculate the autocorrelation of Pacific Hospital returns to help us make a trade decision. For example, suppose you find that Pacific Hospital 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 |
Pacific Hospital 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 Pacific Hospital stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pacific Hospital stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pacific Hospital stock over time.
Current vs Lagged Prices |
| Timeline |
Pacific Hospital Lagged Returns
When evaluating Pacific Hospital's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pacific Hospital stock have on its future price. Pacific Hospital 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, Pacific Hospital autocorrelation shows the relationship between Pacific Hospital stock current value and its past values and can show if there is a momentum factor associated with investing in Pacific Hospital Supply.
Regressed Prices |
| Timeline |
Pair Trading with Pacific Hospital
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 Pacific Hospital 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 Pacific Hospital will appreciate offsetting losses from the drop in the long position's value.Moving against Pacific Stock
The ability to find closely correlated positions to Pacific Hospital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pacific Hospital 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 Pacific Hospital - 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 Pacific Hospital Supply to buy it.
The correlation of Pacific Hospital 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 Pacific Hospital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pacific Hospital Supply 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 Pacific Hospital 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 Pacific Stock Analysis
When running Pacific Hospital's price analysis, check to measure Pacific Hospital'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 Pacific Hospital is operating at the current time. Most of Pacific Hospital's value examination focuses on studying past and present price action to predict the probability of Pacific Hospital's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Pacific Hospital's price. Additionally, you may evaluate how the addition of Pacific Hospital to your portfolios can decrease your overall portfolio volatility.