Feng Ching (Taiwan) Market Value
| 2061 Stock | TWD 20.00 0.45 2.30% |
| Symbol | Feng |
Feng Ching '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 Feng Ching'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 Feng Ching.
| 10/29/2023 |
| 11/22/2024 |
If you would invest 0.00 in Feng Ching on October 29, 2023 and sell it all today you would earn a total of 0.00 from holding Feng Ching Metal or generate 0.0% return on investment in Feng Ching over 390 days. Feng Ching is related to or competes with Walsin Lihwa, Voltronic Power, Advanced Energy, Simplo Technology, Ta Ya, Dynapack International, and Hiwin Mikrosystem. Feng Ching Metal Corporation produces and sells copper wires and enameled copper wires primarily for use in electronic, ... More
Feng Ching 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 Feng Ching'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 Feng Ching Metal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 9.09 | |||
| Value At Risk | (3.00) | |||
| Potential Upside | 2.38 |
Feng Ching Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Feng Ching's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Feng Ching's standard deviation. In reality, there are many statistical measures that can use Feng Ching historical prices to predict the future Feng Ching's volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (0.42) | |||
| Total Risk Alpha | (0.59) | |||
| Treynor Ratio | (0.62) |
Feng Ching Metal Backtested Returns
Feng Ching Metal secures Sharpe Ratio (or Efficiency) of -0.16, which denotes the company had a -0.16% return per unit of risk over the last 3 months. Feng Ching Metal exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Feng Ching's Variance of 3.16, mean deviation of 1.36, and Standard Deviation of 1.78 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.59, which means possible diversification benefits within a given portfolio. As returns on the market increase, Feng Ching's returns are expected to increase less than the market. However, during the bear market, the loss of holding Feng Ching is expected to be smaller as well. At this point, Feng Ching Metal has a negative expected return of -0.3%. Please make sure to confirm Feng Ching's jensen alpha, treynor ratio, and the relationship between the information ratio and total risk alpha , to decide if Feng Ching Metal performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.53 |
Good reverse predictability
Feng Ching Metal has good reverse predictability. Overlapping area represents the amount of predictability between Feng Ching time series from 29th of October 2023 to 11th of May 2024 and 11th of May 2024 to 22nd 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 Feng Ching Metal price movement. The serial correlation of -0.53 indicates that about 53.0% of current Feng Ching price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.53 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 4.29 |
Feng Ching Metal lagged returns against current returns
Autocorrelation, which is Feng Ching 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 Feng Ching's stock expected returns. We can calculate the autocorrelation of Feng Ching returns to help us make a trade decision. For example, suppose you find that Feng Ching 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 |
Feng Ching 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 Feng Ching stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Feng Ching stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Feng Ching stock over time.
Current vs Lagged Prices |
| Timeline |
Feng Ching Lagged Returns
When evaluating Feng Ching's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Feng Ching stock have on its future price. Feng Ching 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, Feng Ching autocorrelation shows the relationship between Feng Ching stock current value and its past values and can show if there is a momentum factor associated with investing in Feng Ching Metal.
Regressed Prices |
| Timeline |
Pair Trading with Feng Ching
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 Feng Ching 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 Feng Ching will appreciate offsetting losses from the drop in the long position's value.Moving together with Feng Stock
Moving against Feng Stock
| 0.76 | 4576 | Hiwin Mikrosystem Corp | PairCorr |
| 0.76 | 2610 | China Airlines | PairCorr |
| 0.71 | 3533 | Lotes | PairCorr |
| 0.67 | 2345 | Accton Technology Corp | PairCorr |
| 0.66 | 2360 | Chroma ATE | PairCorr |
The ability to find closely correlated positions to Feng Ching could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Feng Ching 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 Feng Ching - 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 Feng Ching Metal to buy it.
The correlation of Feng Ching 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 Feng Ching moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Feng Ching Metal 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 Feng Ching 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 Feng Stock Analysis
When running Feng Ching's price analysis, check to measure Feng Ching'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 Feng Ching is operating at the current time. Most of Feng Ching's value examination focuses on studying past and present price action to predict the probability of Feng Ching's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Feng Ching's price. Additionally, you may evaluate how the addition of Feng Ching to your portfolios can decrease your overall portfolio volatility.