StShine Optical (Taiwan) Market Value
| 1565 Stock | TWD 224.50 8.00 3.44% |
| Symbol | StShine |
StShine Optical '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 StShine Optical'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 StShine Optical.
| 05/31/2024 |
| 11/27/2024 |
If you would invest 0.00 in StShine Optical on May 31, 2024 and sell it all today you would earn a total of 0.00 from holding StShine Optical Co or generate 0.0% return on investment in StShine Optical over 180 days. StShine Optical is related to or competes with Sinphar Pharmaceutical, Grape King, Apex Biotechnology, Leatec Fine, Information Technology, Kinko Optical, and E Lead. ,Ltd. designs, manufactures, markets, and supplies contact lens in Taiwan and internationally More
StShine Optical 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 StShine Optical'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 StShine Optical Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.69 | |||
| Information Ratio | 0.1606 | |||
| Maximum Drawdown | 12.43 | |||
| Value At Risk | (2.52) | |||
| Potential Upside | 5.16 |
StShine Optical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for StShine Optical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as StShine Optical's standard deviation. In reality, there are many statistical measures that can use StShine Optical historical prices to predict the future StShine Optical's volatility.| Risk Adjusted Performance | 0.1763 | |||
| Jensen Alpha | 0.5007 | |||
| Total Risk Alpha | 0.1269 | |||
| Sortino Ratio | 0.2005 | |||
| Treynor Ratio | (1.36) |
StShine Optical Backtested Returns
StShine Optical appears to be very steady, given 3 months investment horizon. StShine Optical owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.18, which indicates the firm had a 0.18% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for StShine Optical Co, which you can use to evaluate the volatility of the company. Please review StShine Optical's coefficient of variation of 449.9, and Risk Adjusted Performance of 0.1763 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, StShine Optical holds a performance score of 14. The entity has a beta of -0.34, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning StShine Optical are expected to decrease at a much lower rate. During the bear market, StShine Optical is likely to outperform the market. Please check StShine Optical's jensen alpha, sortino ratio, and the relationship between the standard deviation and total risk alpha , to make a quick decision on whether StShine Optical's existing price patterns will revert.
Auto-correlation | -0.78 |
Almost perfect reverse predictability
StShine Optical Co has almost perfect reverse predictability. Overlapping area represents the amount of predictability between StShine Optical time series from 31st of May 2024 to 29th of August 2024 and 29th of August 2024 to 27th of November 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 StShine Optical price movement. The serial correlation of -0.78 indicates that around 78.0% of current StShine Optical price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.78 | |
| Spearman Rank Test | -0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 519.75 |
StShine Optical lagged returns against current returns
Autocorrelation, which is StShine Optical 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 StShine Optical's stock expected returns. We can calculate the autocorrelation of StShine Optical returns to help us make a trade decision. For example, suppose you find that StShine Optical 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 |
StShine Optical 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 StShine Optical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if StShine Optical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in StShine Optical stock over time.
Current vs Lagged Prices |
| Timeline |
StShine Optical Lagged Returns
When evaluating StShine Optical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of StShine Optical stock have on its future price. StShine Optical 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, StShine Optical autocorrelation shows the relationship between StShine Optical stock current value and its past values and can show if there is a momentum factor associated with investing in StShine Optical Co.
Regressed Prices |
| Timeline |
Pair Trading with StShine Optical
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 StShine Optical 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 StShine Optical will appreciate offsetting losses from the drop in the long position's value.Moving together with StShine Stock
| 0.81 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.81 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.75 | 2609 | Yang Ming Marine | PairCorr |
Moving against StShine Stock
The ability to find closely correlated positions to StShine Optical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace StShine Optical 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 StShine Optical - 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 StShine Optical Co to buy it.
The correlation of StShine Optical 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 StShine Optical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if StShine Optical 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 StShine Optical 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 StShine Stock Analysis
When running StShine Optical's price analysis, check to measure StShine Optical'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 StShine Optical is operating at the current time. Most of StShine Optical's value examination focuses on studying past and present price action to predict the probability of StShine Optical's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move StShine Optical's price. Additionally, you may evaluate how the addition of StShine Optical to your portfolios can decrease your overall portfolio volatility.