Sporton International (Taiwan) Market Value
| 6146 Stock | TWD 201.50 3.50 1.71% |
| Symbol | Sporton |
Sporton International '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 Sporton International'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 Sporton International.
| 06/07/2024 |
| 12/04/2024 |
If you would invest 0.00 in Sporton International on June 7, 2024 and sell it all today you would earn a total of 0.00 from holding Sporton International or generate 0.0% return on investment in Sporton International over 180 days. Sporton International is related to or competes with Great China, China Metal, Sunspring Metal, Mechema Chemicals, Softstar Entertainment, Eastern Media, and Chernan Metal. Sporton International Inc. provides product testing and certification services in Taiwan and internationally More
Sporton International 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 Sporton International'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 Sporton International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 6.16 | |||
| Value At Risk | (2.14) | |||
| Potential Upside | 1.89 |
Sporton International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sporton International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sporton International's standard deviation. In reality, there are many statistical measures that can use Sporton International historical prices to predict the future Sporton International's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.34) | |||
| Treynor Ratio | (0.57) |
Sporton International Backtested Returns
Sporton International owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0474, which indicates the firm had a -0.0474% return per unit of risk over the last 3 months. Sporton International exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sporton International's Risk Adjusted Performance of (0.09), coefficient of variation of (844.21), and Variance of 1.72 to confirm the risk estimate we provide. The entity has a beta of 0.29, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Sporton International's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sporton International is expected to be smaller as well. At this point, Sporton International has a negative expected return of -0.0582%. Please make sure to validate Sporton International's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Sporton International performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.27 |
Poor predictability
Sporton International has poor predictability. Overlapping area represents the amount of predictability between Sporton International time series from 7th of June 2024 to 5th of September 2024 and 5th of September 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 Sporton International price movement. The serial correlation of 0.27 indicates that nearly 27.0% of current Sporton International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.27 | |
| Spearman Rank Test | 0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 46.13 |
Sporton International lagged returns against current returns
Autocorrelation, which is Sporton International 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 Sporton International's stock expected returns. We can calculate the autocorrelation of Sporton International returns to help us make a trade decision. For example, suppose you find that Sporton International 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 |
Sporton International 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 Sporton International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sporton International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sporton International stock over time.
Current vs Lagged Prices |
| Timeline |
Sporton International Lagged Returns
When evaluating Sporton International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sporton International stock have on its future price. Sporton International 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, Sporton International autocorrelation shows the relationship between Sporton International stock current value and its past values and can show if there is a momentum factor associated with investing in Sporton International.
Regressed Prices |
| Timeline |
Pair Trading with Sporton International
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 Sporton International 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 Sporton International will appreciate offsetting losses from the drop in the long position's value.Moving together with Sporton Stock
Moving against Sporton Stock
| 0.6 | 8240 | Wah Hong Industrial | PairCorr |
| 0.57 | 6183 | Trade Van Information | PairCorr |
| 0.33 | 2317 | Hon Hai Precision | PairCorr |
| 0.33 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.32 | 2454 | MediaTek | PairCorr |
The ability to find closely correlated positions to Sporton International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sporton International 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 Sporton International - 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 Sporton International to buy it.
The correlation of Sporton International 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 Sporton International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sporton International 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 Sporton International 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 Sporton Stock Analysis
When running Sporton International's price analysis, check to measure Sporton International'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 Sporton International is operating at the current time. Most of Sporton International's value examination focuses on studying past and present price action to predict the probability of Sporton International's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Sporton International's price. Additionally, you may evaluate how the addition of Sporton International to your portfolios can decrease your overall portfolio volatility.