Goodway Machine (Taiwan) Market Value
| 1583 Stock | TWD 60.10 0.50 0.83% |
| Symbol | Goodway |
Goodway Machine '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 Goodway Machine'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 Goodway Machine.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Goodway Machine on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Goodway Machine Corp or generate 0.0% return on investment in Goodway Machine over 30 days. Goodway Machine is related to or competes with Easywell Biomedicals, Louisa Professional, Great China, Chailease Holding, Sunmax Biotechnology, Apex Biotechnology, and Li Kang. Goodway Machine Corp. develops, manufactures, and sells turning machines More
Goodway Machine 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 Goodway Machine'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 Goodway Machine Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 5.78 | |||
| Value At Risk | (2.12) | |||
| Potential Upside | 1.83 |
Goodway Machine Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Goodway Machine's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Goodway Machine's standard deviation. In reality, there are many statistical measures that can use Goodway Machine historical prices to predict the future Goodway Machine's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | (0.38) |
Goodway Machine Corp Backtested Returns
Goodway Machine Corp holds Efficiency (Sharpe) Ratio of -0.091, which attests that the entity had a -0.091% return per unit of risk over the last 3 months. Goodway Machine Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Goodway Machine's Standard Deviation of 1.13, market risk adjusted performance of (0.37), and Risk Adjusted Performance of (0.05) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.22, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Goodway Machine's returns are expected to increase less than the market. However, during the bear market, the loss of holding Goodway Machine is expected to be smaller as well. At this point, Goodway Machine Corp has a negative expected return of -0.093%. Please make sure to check out Goodway Machine's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Goodway Machine Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.31 |
Poor reverse predictability
Goodway Machine Corp has poor reverse predictability. Overlapping area represents the amount of predictability between Goodway Machine time series from 1st of November 2024 to 16th of November 2024 and 16th of November 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 Goodway Machine Corp price movement. The serial correlation of -0.31 indicates that nearly 31.0% of current Goodway Machine price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.31 | |
| Spearman Rank Test | -0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 1.17 |
Goodway Machine Corp lagged returns against current returns
Autocorrelation, which is Goodway Machine 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 Goodway Machine's stock expected returns. We can calculate the autocorrelation of Goodway Machine returns to help us make a trade decision. For example, suppose you find that Goodway Machine 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 |
Goodway Machine 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 Goodway Machine stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Goodway Machine stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Goodway Machine stock over time.
Current vs Lagged Prices |
| Timeline |
Goodway Machine Lagged Returns
When evaluating Goodway Machine's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Goodway Machine stock have on its future price. Goodway Machine 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, Goodway Machine autocorrelation shows the relationship between Goodway Machine stock current value and its past values and can show if there is a momentum factor associated with investing in Goodway Machine Corp.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Goodway Stock Analysis
When running Goodway Machine's price analysis, check to measure Goodway Machine'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 Goodway Machine is operating at the current time. Most of Goodway Machine's value examination focuses on studying past and present price action to predict the probability of Goodway Machine's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Goodway Machine's price. Additionally, you may evaluate how the addition of Goodway Machine to your portfolios can decrease your overall portfolio volatility.