Advanced International (Taiwan) Market Value
| 8938 Stock | TWD 73.60 0.30 0.41% |
| Symbol | Advanced |
Advanced 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 Advanced 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 Advanced International.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in Advanced International on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding Advanced International Multitech or generate 0.0% return on investment in Advanced International over 360 days. Advanced International is related to or competes with Giant Manufacturing, Merida Industry, and Johnson Health. Advanced International Multitech Co., Ltd More
Advanced 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 Advanced 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 Advanced International Multitech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.50) | |||
| Maximum Drawdown | 3.44 | |||
| Value At Risk | (1.34) | |||
| Potential Upside | 0.5006 |
Advanced International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Advanced International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Advanced International's standard deviation. In reality, there are many statistical measures that can use Advanced International historical prices to predict the future Advanced International's volatility.| Risk Adjusted Performance | (0.24) | |||
| Jensen Alpha | (0.22) | |||
| Total Risk Alpha | (0.30) | |||
| Treynor Ratio | (1.29) |
Advanced International Backtested Returns
Advanced International secures Sharpe Ratio (or Efficiency) of -0.27, which signifies that the company had a -0.27% return per unit of risk over the last 3 months. Advanced International Multitech exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Advanced International's Risk Adjusted Performance of (0.24), standard deviation of 0.6312, and Mean Deviation of 0.4765 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.16, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Advanced International's returns are expected to increase less than the market. However, during the bear market, the loss of holding Advanced International is expected to be smaller as well. At this point, Advanced International has a negative expected return of -0.16%. Please make sure to confirm Advanced International's total risk alpha, maximum drawdown, skewness, as well as the relationship between the treynor ratio and potential upside , to decide if Advanced International performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.68 |
Very good reverse predictability
Advanced International Multitech has very good reverse predictability. Overlapping area represents the amount of predictability between Advanced International 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 Advanced International price movement. The serial correlation of -0.68 indicates that around 68.0% of current Advanced International price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.68 | |
| Spearman Rank Test | -0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 4.33 |
Advanced International lagged returns against current returns
Autocorrelation, which is Advanced 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 Advanced International's stock expected returns. We can calculate the autocorrelation of Advanced International returns to help us make a trade decision. For example, suppose you find that Advanced 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 |
Advanced 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 Advanced International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Advanced International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Advanced International stock over time.
Current vs Lagged Prices |
| Timeline |
Advanced International Lagged Returns
When evaluating Advanced International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Advanced International stock have on its future price. Advanced 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, Advanced International autocorrelation shows the relationship between Advanced International stock current value and its past values and can show if there is a momentum factor associated with investing in Advanced International Multitech.
Regressed Prices |
| Timeline |
Pair Trading with Advanced 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 Advanced 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 Advanced International will appreciate offsetting losses from the drop in the long position's value.Moving together with Advanced Stock
| 0.9 | 9921 | Giant Manufacturing | PairCorr |
| 0.85 | 9914 | Merida Industry | PairCorr |
| 0.96 | 8478 | Alexander Marine | PairCorr |
Moving against Advanced Stock
| 0.84 | 2881A | Fubon Financial Holding | PairCorr |
| 0.83 | 6768 | Sports Gear | PairCorr |
| 0.8 | 2891 | CTBC Financial Holding | PairCorr |
| 0.75 | 2882B | Cathay Financial Holding | PairCorr |
| 0.67 | 2883 | China Development | PairCorr |
The ability to find closely correlated positions to Advanced 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 Advanced 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 Advanced 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 Advanced International Multitech to buy it.
The correlation of Advanced 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 Advanced International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advanced 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 Advanced 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 Advanced Stock Analysis
When running Advanced International's price analysis, check to measure Advanced 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 Advanced International is operating at the current time. Most of Advanced International's value examination focuses on studying past and present price action to predict the probability of Advanced 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 Advanced International's price. Additionally, you may evaluate how the addition of Advanced International to your portfolios can decrease your overall portfolio volatility.