Hwacom Systems (Taiwan) Market Value
| 6163 Stock | TWD 23.70 0.20 0.85% |
| Symbol | Hwacom |
Hwacom Systems '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 Hwacom Systems' 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 Hwacom Systems.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in Hwacom Systems on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding Hwacom Systems or generate 0.0% return on investment in Hwacom Systems over 360 days. Hwacom Systems is related to or competes with Chi Hua, Microtips Technology, Sun Max, Johnson Health, Onyx Healthcare, Simplo Technology, and Genovate Biotechnology. More
Hwacom Systems 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 Hwacom Systems' 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 Hwacom Systems upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.66 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 11.38 | |||
| Value At Risk | (4.04) | |||
| Potential Upside | 4.34 |
Hwacom Systems Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hwacom Systems' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hwacom Systems' standard deviation. In reality, there are many statistical measures that can use Hwacom Systems historical prices to predict the future Hwacom Systems' volatility.| Risk Adjusted Performance | 0.0202 | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.33) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.0389 |
Hwacom Systems Backtested Returns
At this stage we consider Hwacom Stock to be very steady. Hwacom Systems holds Efficiency (Sharpe) Ratio of 0.0175, which attests that the entity had a 0.0175% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for Hwacom Systems, which you can use to evaluate the volatility of the firm. Please check out Hwacom Systems' market risk adjusted performance of 0.0489, and Risk Adjusted Performance of 0.0202 to validate if the risk estimate we provide is consistent with the expected return of 0.0418%. Hwacom Systems has a performance score of 1 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.82, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Hwacom Systems' returns are expected to increase less than the market. However, during the bear market, the loss of holding Hwacom Systems is expected to be smaller as well. Hwacom Systems right now retains a risk of 2.39%. Please check out Hwacom Systems mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to decide if Hwacom Systems will be following its current trending patterns.
Auto-correlation | 0.36 |
Below average predictability
Hwacom Systems has below average predictability. Overlapping area represents the amount of predictability between Hwacom Systems 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 Hwacom Systems price movement. The serial correlation of 0.36 indicates that just about 36.0% of current Hwacom Systems price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.36 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 2.64 |
Hwacom Systems lagged returns against current returns
Autocorrelation, which is Hwacom Systems 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 Hwacom Systems' stock expected returns. We can calculate the autocorrelation of Hwacom Systems returns to help us make a trade decision. For example, suppose you find that Hwacom Systems 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 |
Hwacom Systems 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 Hwacom Systems stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hwacom Systems stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hwacom Systems stock over time.
Current vs Lagged Prices |
| Timeline |
Hwacom Systems Lagged Returns
When evaluating Hwacom Systems' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hwacom Systems stock have on its future price. Hwacom Systems 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, Hwacom Systems autocorrelation shows the relationship between Hwacom Systems stock current value and its past values and can show if there is a momentum factor associated with investing in Hwacom Systems.
Regressed Prices |
| Timeline |
Pair Trading with Hwacom Systems
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 Hwacom Systems 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 Hwacom Systems will appreciate offsetting losses from the drop in the long position's value.Moving together with Hwacom Stock
Moving against Hwacom Stock
| 0.62 | 2882B | Cathay Financial Holding | PairCorr |
| 0.6 | 2881A | Fubon Financial Holding | PairCorr |
| 0.54 | 2454 | MediaTek | PairCorr |
| 0.48 | 2317 | Hon Hai Precision | PairCorr |
| 0.48 | 0050 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Hwacom Systems could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hwacom Systems 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 Hwacom Systems - 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 Hwacom Systems to buy it.
The correlation of Hwacom Systems 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 Hwacom Systems moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hwacom Systems 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 Hwacom Systems 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 Hwacom Stock Analysis
When running Hwacom Systems' price analysis, check to measure Hwacom Systems' 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 Hwacom Systems is operating at the current time. Most of Hwacom Systems' value examination focuses on studying past and present price action to predict the probability of Hwacom Systems' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hwacom Systems' price. Additionally, you may evaluate how the addition of Hwacom Systems to your portfolios can decrease your overall portfolio volatility.