HIM International (Taiwan) Market Value
| 8446 Stock | TWD 122.50 1.00 0.81% |
| Symbol | HIM |
HIM 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 HIM 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 HIM International.
| 12/07/2023 |
| 12/01/2024 |
If you would invest 0.00 in HIM International on December 7, 2023 and sell it all today you would earn a total of 0.00 from holding HIM International Music or generate 0.0% return on investment in HIM International over 360 days. HIM International is related to or competes with Cameo Communications, Nova Technology, TWOWAY Communications, Asmedia Technology, Sunnic Technology, Microelectronics, and Connection Technology. More
HIM 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 HIM 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 HIM International Music upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.96 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 10.09 | |||
| Value At Risk | (2.05) | |||
| Potential Upside | 2.51 |
HIM International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for HIM International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as HIM International's standard deviation. In reality, there are many statistical measures that can use HIM International historical prices to predict the future HIM International's volatility.| Risk Adjusted Performance | 0.0542 | |||
| Jensen Alpha | 0.0963 | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (2.50) |
HIM International Music Backtested Returns
At this stage we consider HIM Stock to be very steady. HIM International Music holds Efficiency (Sharpe) Ratio of 0.0699, which attests that the entity had a 0.0699% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for HIM International Music, which you can use to evaluate the volatility of the firm. Please check out HIM International's Risk Adjusted Performance of 0.0542, market risk adjusted performance of (2.49), and Semi Deviation of 1.43 to validate if the risk estimate we provide is consistent with the expected return of 0.11%. HIM International has a performance score of 5 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of -0.0367, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning HIM International are expected to decrease at a much lower rate. During the bear market, HIM International is likely to outperform the market. HIM International Music now retains a risk of 1.59%. Please check out HIM International downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if HIM International will be following its current trending patterns.
Auto-correlation | 0.12 |
Insignificant predictability
HIM International Music has insignificant predictability. Overlapping area represents the amount of predictability between HIM International time series from 7th of December 2023 to 4th of June 2024 and 4th of June 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 HIM International Music price movement. The serial correlation of 0.12 indicates that less than 12.0% of current HIM International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | 0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 38.94 |
HIM International Music lagged returns against current returns
Autocorrelation, which is HIM 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 HIM International's stock expected returns. We can calculate the autocorrelation of HIM International returns to help us make a trade decision. For example, suppose you find that HIM 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 |
HIM 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 HIM International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if HIM International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in HIM International stock over time.
Current vs Lagged Prices |
| Timeline |
HIM International Lagged Returns
When evaluating HIM International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of HIM International stock have on its future price. HIM 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, HIM International autocorrelation shows the relationship between HIM International stock current value and its past values and can show if there is a momentum factor associated with investing in HIM International Music.
Regressed Prices |
| Timeline |
Pair Trading with HIM 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 HIM 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 HIM International will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to HIM 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 HIM 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 HIM 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 HIM International Music to buy it.
The correlation of HIM 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 HIM International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if HIM International Music 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 HIM 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 HIM Stock Analysis
When running HIM International's price analysis, check to measure HIM 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 HIM International is operating at the current time. Most of HIM International's value examination focuses on studying past and present price action to predict the probability of HIM 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 HIM International's price. Additionally, you may evaluate how the addition of HIM International to your portfolios can decrease your overall portfolio volatility.