Sinopower Semiconductor (Taiwan) Market Value
| 6435 Stock | TWD 91.20 0.10 0.11% |
| Symbol | Sinopower |
Sinopower Semiconductor '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 Sinopower Semiconductor'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 Sinopower Semiconductor.
| 05/06/2024 |
| 12/02/2024 |
If you would invest 0.00 in Sinopower Semiconductor on May 6, 2024 and sell it all today you would earn a total of 0.00 from holding Sinopower Semiconductor or generate 0.0% return on investment in Sinopower Semiconductor over 210 days. Sinopower Semiconductor is related to or competes with Sitronix Technology, Kinsus Interconnect, WiseChip Semiconductor, Novatek Microelectronics, Leader Electronics, Information Technology, and Kinko Optical. More
Sinopower Semiconductor 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 Sinopower Semiconductor'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 Sinopower Semiconductor upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 8.94 | |||
| Value At Risk | (3.35) | |||
| Potential Upside | 3.7 |
Sinopower Semiconductor Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sinopower Semiconductor's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sinopower Semiconductor's standard deviation. In reality, there are many statistical measures that can use Sinopower Semiconductor historical prices to predict the future Sinopower Semiconductor's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.41) | |||
| Treynor Ratio | (0.27) |
Sinopower Semiconductor Backtested Returns
Sinopower Semiconductor owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0691, which indicates the firm had a -0.0691% return per unit of risk over the last 3 months. Sinopower Semiconductor exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sinopower Semiconductor's Risk Adjusted Performance of (0.03), coefficient of variation of (2,048), and Variance of 3.52 to confirm the risk estimate we provide. The entity has a beta of 0.38, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Sinopower Semiconductor's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sinopower Semiconductor is expected to be smaller as well. At this point, Sinopower Semiconductor has a negative expected return of -0.12%. Please make sure to validate Sinopower Semiconductor's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Sinopower Semiconductor performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.65 |
Good predictability
Sinopower Semiconductor has good predictability. Overlapping area represents the amount of predictability between Sinopower Semiconductor time series from 6th of May 2024 to 19th of August 2024 and 19th of August 2024 to 2nd 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 Sinopower Semiconductor price movement. The serial correlation of 0.65 indicates that roughly 65.0% of current Sinopower Semiconductor price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.65 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 12.7 |
Sinopower Semiconductor lagged returns against current returns
Autocorrelation, which is Sinopower Semiconductor 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 Sinopower Semiconductor's stock expected returns. We can calculate the autocorrelation of Sinopower Semiconductor returns to help us make a trade decision. For example, suppose you find that Sinopower Semiconductor 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 |
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Sinopower Semiconductor 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 Sinopower Semiconductor stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sinopower Semiconductor stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sinopower Semiconductor stock over time.
Current vs Lagged Prices |
| Timeline |
Sinopower Semiconductor Lagged Returns
When evaluating Sinopower Semiconductor's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sinopower Semiconductor stock have on its future price. Sinopower Semiconductor 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, Sinopower Semiconductor autocorrelation shows the relationship between Sinopower Semiconductor stock current value and its past values and can show if there is a momentum factor associated with investing in Sinopower Semiconductor.
Regressed Prices |
| Timeline |
Pair Trading with Sinopower Semiconductor
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 Sinopower Semiconductor 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 Sinopower Semiconductor will appreciate offsetting losses from the drop in the long position's value.Moving together with Sinopower Stock
The ability to find closely correlated positions to Sinopower Semiconductor could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sinopower Semiconductor 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 Sinopower Semiconductor - 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 Sinopower Semiconductor to buy it.
The correlation of Sinopower Semiconductor 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 Sinopower Semiconductor moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sinopower Semiconductor 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 Sinopower Semiconductor 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 Sinopower Stock Analysis
When running Sinopower Semiconductor's price analysis, check to measure Sinopower Semiconductor'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 Sinopower Semiconductor is operating at the current time. Most of Sinopower Semiconductor's value examination focuses on studying past and present price action to predict the probability of Sinopower Semiconductor's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Sinopower Semiconductor's price. Additionally, you may evaluate how the addition of Sinopower Semiconductor to your portfolios can decrease your overall portfolio volatility.