HOYA Resort (Taiwan) Market Value
| 2736 Stock | TWD 18.20 0.35 1.89% |
| Symbol | HOYA |
HOYA Resort '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 HOYA Resort'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 HOYA Resort.
| 06/09/2023 |
| 11/30/2024 |
If you would invest 0.00 in HOYA Resort on June 9, 2023 and sell it all today you would earn a total of 0.00 from holding HOYA Resort Hotel or generate 0.0% return on investment in HOYA Resort over 540 days. HOYA Resort is related to or competes with AVerMedia Technologies, Cayenne Entertainment, Sports Gear, Provision Information, Gigastorage Corp, Otsuka Information, and Fortune Information. More
HOYA Resort 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 HOYA Resort'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 HOYA Resort Hotel upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 12.65 | |||
| Value At Risk | (2.16) | |||
| Potential Upside | 1.93 |
HOYA Resort Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for HOYA Resort's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as HOYA Resort's standard deviation. In reality, there are many statistical measures that can use HOYA Resort historical prices to predict the future HOYA Resort's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.39) | |||
| Treynor Ratio | (0.68) |
HOYA Resort Hotel Backtested Returns
HOYA Resort Hotel holds Efficiency (Sharpe) Ratio of -0.0566, which attests that the entity had a -0.0566% return per unit of standard deviation over the last 3 months. HOYA Resort Hotel exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out HOYA Resort's market risk adjusted performance of (0.67), and Risk Adjusted Performance of (0.04) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.17, which attests to not very significant fluctuations relative to the market. As returns on the market increase, HOYA Resort's returns are expected to increase less than the market. However, during the bear market, the loss of holding HOYA Resort is expected to be smaller as well. At this point, HOYA Resort Hotel has a negative expected return of -0.0956%. Please make sure to check out HOYA Resort's maximum drawdown, potential upside, kurtosis, as well as the relationship between the value at risk and skewness , to decide if HOYA Resort Hotel performance from the past will be repeated at some future point.
Auto-correlation | 0.44 |
Average predictability
HOYA Resort Hotel has average predictability. Overlapping area represents the amount of predictability between HOYA Resort time series from 9th of June 2023 to 5th of March 2024 and 5th of March 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 HOYA Resort Hotel price movement. The serial correlation of 0.44 indicates that just about 44.0% of current HOYA Resort price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.44 | |
| Spearman Rank Test | 0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 13.82 |
HOYA Resort Hotel lagged returns against current returns
Autocorrelation, which is HOYA Resort 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 HOYA Resort's stock expected returns. We can calculate the autocorrelation of HOYA Resort returns to help us make a trade decision. For example, suppose you find that HOYA Resort 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 |
HOYA Resort 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 HOYA Resort stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if HOYA Resort stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in HOYA Resort stock over time.
Current vs Lagged Prices |
| Timeline |
HOYA Resort Lagged Returns
When evaluating HOYA Resort's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of HOYA Resort stock have on its future price. HOYA Resort 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, HOYA Resort autocorrelation shows the relationship between HOYA Resort stock current value and its past values and can show if there is a momentum factor associated with investing in HOYA Resort Hotel.
Regressed Prices |
| Timeline |
Pair Trading with HOYA Resort
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 HOYA Resort 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 HOYA Resort will appreciate offsetting losses from the drop in the long position's value.Moving against HOYA Stock
The ability to find closely correlated positions to HOYA Resort could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HOYA Resort 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 HOYA Resort - 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 HOYA Resort Hotel to buy it.
The correlation of HOYA Resort 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 HOYA Resort moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if HOYA Resort Hotel 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 HOYA Resort 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 HOYA Stock Analysis
When running HOYA Resort's price analysis, check to measure HOYA Resort'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 HOYA Resort is operating at the current time. Most of HOYA Resort's value examination focuses on studying past and present price action to predict the probability of HOYA Resort's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move HOYA Resort's price. Additionally, you may evaluate how the addition of HOYA Resort to your portfolios can decrease your overall portfolio volatility.