Hi Clearance (Taiwan) Market Value
| 1788 Stock | TWD 139.00 0.50 0.36% |
| Symbol | 1788 |
Hi Clearance '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 Hi Clearance'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 Hi Clearance.
| 02/09/2023 |
| 11/30/2024 |
If you would invest 0.00 in Hi Clearance on February 9, 2023 and sell it all today you would earn a total of 0.00 from holding Hi Clearance or generate 0.0% return on investment in Hi Clearance over 660 days. Hi Clearance is related to or competes with ECOVE Environment, Onyx Healthcare, Healthconn Corp, Wei Chih, Yieh United, SS Healthcare, and Chia Yi. More
Hi Clearance 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 Hi Clearance'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 Hi Clearance upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5671 | |||
| Information Ratio | (0.35) | |||
| Maximum Drawdown | 1.79 | |||
| Value At Risk | (0.72) | |||
| Potential Upside | 0.722 |
Hi Clearance Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hi Clearance's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hi Clearance's standard deviation. In reality, there are many statistical measures that can use Hi Clearance historical prices to predict the future Hi Clearance's volatility.| Risk Adjusted Performance | 0.0133 | |||
| Jensen Alpha | 0.0084 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | (0.22) | |||
| Treynor Ratio | (0.03) |
Hi Clearance Backtested Returns
Hi Clearance retains Efficiency (Sharpe Ratio) of -0.0141, which attests that the entity had a -0.0141% return per unit of price deviation over the last 3 months. Hi Clearance exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hi Clearance's Semi Deviation of 0.2933, market risk adjusted performance of (0.02), and Standard Deviation of 0.3624 to validate the risk estimate we provide. The company owns a Beta (Systematic Risk) of -0.0535, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hi Clearance are expected to decrease at a much lower rate. During the bear market, Hi Clearance is likely to outperform the market. At this point, Hi Clearance has a negative expected return of -0.005%. Please make sure to check out Hi Clearance's semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to decide if Hi Clearance performance from the past will be repeated in the future.
Auto-correlation | -0.05 |
Very weak reverse predictability
Hi Clearance has very weak reverse predictability. Overlapping area represents the amount of predictability between Hi Clearance time series from 9th of February 2023 to 5th of January 2024 and 5th of January 2024 to 30th 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 Hi Clearance price movement. The serial correlation of -0.05 indicates that only as little as 5.0% of current Hi Clearance price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.05 | |
| Spearman Rank Test | -0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 13.84 |
Hi Clearance lagged returns against current returns
Autocorrelation, which is Hi Clearance 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 Hi Clearance's stock expected returns. We can calculate the autocorrelation of Hi Clearance returns to help us make a trade decision. For example, suppose you find that Hi Clearance 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 |
Hi Clearance 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 Hi Clearance stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hi Clearance stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hi Clearance stock over time.
Current vs Lagged Prices |
| Timeline |
Hi Clearance Lagged Returns
When evaluating Hi Clearance's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hi Clearance stock have on its future price. Hi Clearance 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, Hi Clearance autocorrelation shows the relationship between Hi Clearance stock current value and its past values and can show if there is a momentum factor associated with investing in Hi Clearance.
Regressed Prices |
| Timeline |
Pair Trading with Hi Clearance
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 Hi Clearance 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 Hi Clearance will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Hi Clearance could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hi Clearance 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 Hi Clearance - 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 Hi Clearance to buy it.
The correlation of Hi Clearance 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 Hi Clearance moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hi Clearance 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 Hi Clearance 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 1788 Stock Analysis
When running Hi Clearance's price analysis, check to measure Hi Clearance'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 Hi Clearance is operating at the current time. Most of Hi Clearance's value examination focuses on studying past and present price action to predict the probability of Hi Clearance's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hi Clearance's price. Additionally, you may evaluate how the addition of Hi Clearance to your portfolios can decrease your overall portfolio volatility.