FineTek (Taiwan) Market Value
| 4549 Stock | TWD 174.00 4.00 2.25% |
| Symbol | FineTek |
FineTek '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 FineTek'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 FineTek.
| 07/20/2023 |
| 12/11/2024 |
If you would invest 0.00 in FineTek on July 20, 2023 and sell it all today you would earn a total of 0.00 from holding FineTek Co or generate 0.0% return on investment in FineTek over 510 days. FineTek is related to or competes with Integrated Service, ASE Industrial, EMemory Technology, Ruentex Development, Symtek Automation, WiseChip Semiconductor, and Novatek Microelectronics. FineTek Co., Ltd. manufactures and sells various industrial sensors in Taiwan and internationally More
FineTek 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 FineTek'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 FineTek Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.39 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 17.8 | |||
| Value At Risk | (4.93) | |||
| Potential Upside | 7.19 |
FineTek Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for FineTek's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as FineTek's standard deviation. In reality, there are many statistical measures that can use FineTek historical prices to predict the future FineTek's volatility.| Risk Adjusted Performance | 0.0246 | |||
| Jensen Alpha | 0.0184 | |||
| Total Risk Alpha | (0.47) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.1559 |
FineTek Backtested Returns
At this stage we consider FineTek Stock to be very steady. FineTek secures Sharpe Ratio (or Efficiency) of 0.0262, which denotes the company had a 0.0262% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for FineTek Co, which you can use to evaluate the volatility of the firm. Please confirm FineTek's Mean Deviation of 2.39, downside deviation of 3.39, and Coefficient Of Variation of 4317.28 to check if the risk estimate we provide is consistent with the expected return of 0.0871%. FineTek has a performance score of 2 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.44, which means possible diversification benefits within a given portfolio. As returns on the market increase, FineTek's returns are expected to increase less than the market. However, during the bear market, the loss of holding FineTek is expected to be smaller as well. FineTek right now shows a risk of 3.33%. Please confirm FineTek information ratio, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if FineTek will be following its price patterns.
Auto-correlation | -0.32 |
Poor reverse predictability
FineTek Co has poor reverse predictability. Overlapping area represents the amount of predictability between FineTek time series from 20th of July 2023 to 31st of March 2024 and 31st of March 2024 to 11th 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 FineTek price movement. The serial correlation of -0.32 indicates that nearly 32.0% of current FineTek price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.32 | |
| Spearman Rank Test | 0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 815.7 |
FineTek lagged returns against current returns
Autocorrelation, which is FineTek 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 FineTek's stock expected returns. We can calculate the autocorrelation of FineTek returns to help us make a trade decision. For example, suppose you find that FineTek 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 |
FineTek 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 FineTek stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if FineTek stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in FineTek stock over time.
Current vs Lagged Prices |
| Timeline |
FineTek Lagged Returns
When evaluating FineTek's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of FineTek stock have on its future price. FineTek 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, FineTek autocorrelation shows the relationship between FineTek stock current value and its past values and can show if there is a momentum factor associated with investing in FineTek Co.
Regressed Prices |
| Timeline |
Pair Trading with FineTek
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 FineTek 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 FineTek will appreciate offsetting losses from the drop in the long position's value.Moving against FineTek Stock
| 0.48 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.47 | 5309 | Sysgration | PairCorr |
| 0.44 | 2423 | Good Will Instrument | PairCorr |
| 0.38 | 2360 | Chroma ATE | PairCorr |
| 0.37 | 2317 | Hon Hai Precision | PairCorr |
The ability to find closely correlated positions to FineTek could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FineTek 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 FineTek - 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 FineTek Co to buy it.
The correlation of FineTek 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 FineTek moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FineTek 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 FineTek 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 FineTek Stock Analysis
When running FineTek's price analysis, check to measure FineTek'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 FineTek is operating at the current time. Most of FineTek's value examination focuses on studying past and present price action to predict the probability of FineTek's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move FineTek's price. Additionally, you may evaluate how the addition of FineTek to your portfolios can decrease your overall portfolio volatility.