ALFORMER Industrial (Taiwan) Market Value
| 4558 Stock | TWD 38.60 0.90 2.39% |
| Symbol | ALFORMER |
ALFORMER Industrial '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 ALFORMER Industrial'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 ALFORMER Industrial.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in ALFORMER Industrial on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding ALFORMER Industrial Co or generate 0.0% return on investment in ALFORMER Industrial over 30 days. ALFORMER Industrial is related to or competes with Hota Industrial, Macauto Industrial, Taiwan Fu, Leatec Fine, Information Technology, Kinko Optical, and E Lead. ALFORMER Industrial Co., Ltd. produces and processes aluminum products in Taiwan More
ALFORMER Industrial 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 ALFORMER Industrial'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 ALFORMER Industrial Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.85 | |||
| Information Ratio | 0.09 | |||
| Maximum Drawdown | 19.88 | |||
| Value At Risk | (5.78) | |||
| Potential Upside | 9.92 |
ALFORMER Industrial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ALFORMER Industrial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ALFORMER Industrial's standard deviation. In reality, there are many statistical measures that can use ALFORMER Industrial historical prices to predict the future ALFORMER Industrial's volatility.| Risk Adjusted Performance | 0.1018 | |||
| Jensen Alpha | 0.5694 | |||
| Total Risk Alpha | (0.20) | |||
| Sortino Ratio | 0.0989 | |||
| Treynor Ratio | (1.07) |
ALFORMER Industrial Backtested Returns
ALFORMER Industrial appears to be not too volatile, given 3 months investment horizon. ALFORMER Industrial secures Sharpe Ratio (or Efficiency) of 0.13, which signifies that the company had a 0.13% return per unit of risk over the last 3 months. By examining ALFORMER Industrial's technical indicators, you can evaluate if the expected return of 0.54% is justified by implied risk. Please makes use of ALFORMER Industrial's Mean Deviation of 2.91, risk adjusted performance of 0.1018, and Downside Deviation of 3.85 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, ALFORMER Industrial holds a performance score of 9. The firm shows a Beta (market volatility) of -0.47, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning ALFORMER Industrial are expected to decrease at a much lower rate. During the bear market, ALFORMER Industrial is likely to outperform the market. Please check ALFORMER Industrial's semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to make a quick decision on whether ALFORMER Industrial's price patterns will revert.
Auto-correlation | 0.71 |
Good predictability
ALFORMER Industrial Co has good predictability. Overlapping area represents the amount of predictability between ALFORMER Industrial time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 ALFORMER Industrial price movement. The serial correlation of 0.71 indicates that around 71.0% of current ALFORMER Industrial price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.71 | |
| Spearman Rank Test | 0.58 | |
| Residual Average | 0.0 | |
| Price Variance | 7.11 |
ALFORMER Industrial lagged returns against current returns
Autocorrelation, which is ALFORMER Industrial 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 ALFORMER Industrial's stock expected returns. We can calculate the autocorrelation of ALFORMER Industrial returns to help us make a trade decision. For example, suppose you find that ALFORMER Industrial 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 |
ALFORMER Industrial 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 ALFORMER Industrial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ALFORMER Industrial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ALFORMER Industrial stock over time.
Current vs Lagged Prices |
| Timeline |
ALFORMER Industrial Lagged Returns
When evaluating ALFORMER Industrial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ALFORMER Industrial stock have on its future price. ALFORMER Industrial 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, ALFORMER Industrial autocorrelation shows the relationship between ALFORMER Industrial stock current value and its past values and can show if there is a momentum factor associated with investing in ALFORMER Industrial Co.
Regressed Prices |
| Timeline |
Pair Trading with ALFORMER Industrial
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 ALFORMER Industrial 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 ALFORMER Industrial will appreciate offsetting losses from the drop in the long position's value.Moving against ALFORMER Stock
| 0.77 | 2327 | Yageo Corp | PairCorr |
| 0.73 | 3034 | Novatek Microelectronics | PairCorr |
| 0.72 | 4966 | Parade Technologies | PairCorr |
| 0.7 | 8942 | Xxentria Technology | PairCorr |
| 0.63 | 3008 | LARGAN Precision | PairCorr |
The ability to find closely correlated positions to ALFORMER Industrial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ALFORMER Industrial 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 ALFORMER Industrial - 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 ALFORMER Industrial Co to buy it.
The correlation of ALFORMER Industrial 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 ALFORMER Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ALFORMER Industrial 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 ALFORMER Industrial 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 ALFORMER Stock Analysis
When running ALFORMER Industrial's price analysis, check to measure ALFORMER Industrial'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 ALFORMER Industrial is operating at the current time. Most of ALFORMER Industrial's value examination focuses on studying past and present price action to predict the probability of ALFORMER Industrial's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ALFORMER Industrial's price. Additionally, you may evaluate how the addition of ALFORMER Industrial to your portfolios can decrease your overall portfolio volatility.