Shinkong Textile (Taiwan) Market Value
| 1419 Stock | TWD 45.50 0.15 0.33% |
| Symbol | Shinkong |
Shinkong Textile '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 Shinkong Textile'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 Shinkong Textile.
| 06/04/2024 |
| 12/01/2024 |
If you would invest 0.00 in Shinkong Textile on June 4, 2024 and sell it all today you would earn a total of 0.00 from holding Shinkong Textile Co or generate 0.0% return on investment in Shinkong Textile over 180 days. Shinkong Textile is related to or competes with Shinkong Synthetic, Formosa Taffeta, Far Eastern, Tainan Spinning, and Nien Hsing. It offers digital print, dyed fabric, reflective yarn, flannel, and bi-stretch fabric services for synthetic fibers More
Shinkong Textile 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 Shinkong Textile'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 Shinkong Textile Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 5.71 | |||
| Value At Risk | (1.94) | |||
| Potential Upside | 2.12 |
Shinkong Textile Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Shinkong Textile's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Shinkong Textile's standard deviation. In reality, there are many statistical measures that can use Shinkong Textile historical prices to predict the future Shinkong Textile's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.1) | |||
| Total Risk Alpha | (0.30) | |||
| Treynor Ratio | (1.16) |
Shinkong Textile Backtested Returns
Shinkong Textile owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0725, which indicates the firm had a -0.0725% return per unit of risk over the last 3 months. Shinkong Textile Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Shinkong Textile's Variance of 1.68, risk adjusted performance of (0.04), and Coefficient Of Variation of (1,672) to confirm the risk estimate we provide. The entity has a beta of 0.0755, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Shinkong Textile's returns are expected to increase less than the market. However, during the bear market, the loss of holding Shinkong Textile is expected to be smaller as well. At this point, Shinkong Textile has a negative expected return of -0.0945%. Please make sure to validate Shinkong Textile's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Shinkong Textile performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.11 |
Insignificant predictability
Shinkong Textile Co has insignificant predictability. Overlapping area represents the amount of predictability between Shinkong Textile time series from 4th of June 2024 to 2nd of September 2024 and 2nd of September 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 Shinkong Textile price movement. The serial correlation of 0.11 indicates that less than 11.0% of current Shinkong Textile price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.11 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 1.28 |
Shinkong Textile lagged returns against current returns
Autocorrelation, which is Shinkong Textile 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 Shinkong Textile's stock expected returns. We can calculate the autocorrelation of Shinkong Textile returns to help us make a trade decision. For example, suppose you find that Shinkong Textile 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 |
Shinkong Textile 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 Shinkong Textile stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Shinkong Textile stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Shinkong Textile stock over time.
Current vs Lagged Prices |
| Timeline |
Shinkong Textile Lagged Returns
When evaluating Shinkong Textile's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Shinkong Textile stock have on its future price. Shinkong Textile 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, Shinkong Textile autocorrelation shows the relationship between Shinkong Textile stock current value and its past values and can show if there is a momentum factor associated with investing in Shinkong Textile Co.
Regressed Prices |
| Timeline |
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When running Shinkong Textile's price analysis, check to measure Shinkong Textile'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 Shinkong Textile is operating at the current time. Most of Shinkong Textile's value examination focuses on studying past and present price action to predict the probability of Shinkong Textile's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Shinkong Textile's price. Additionally, you may evaluate how the addition of Shinkong Textile to your portfolios can decrease your overall portfolio volatility.