Ruentex Industries (Taiwan) Market Value
| 2915 Stock | TWD 80.40 1.50 1.83% |
| Symbol | Ruentex |
Ruentex Industries '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 Ruentex Industries' 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 Ruentex Industries.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Ruentex Industries on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Ruentex Industries or generate 0.0% return on investment in Ruentex Industries over 30 days. Ruentex Industries is related to or competes with Taiwan Semiconductor, Hon Hai, MediaTek, Chunghwa Telecom, Chailease Holding, Delta Electronics, and Formosa Petrochemical. Ruentex Industries Limited engages in textile manufacturing, retailing, marketing, and trading activities More
Ruentex Industries 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 Ruentex Industries' 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 Ruentex Industries upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.52 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 6.08 | |||
| Value At Risk | (2.26) | |||
| Potential Upside | 2.6 |
Ruentex Industries Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ruentex Industries' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ruentex Industries' standard deviation. In reality, there are many statistical measures that can use Ruentex Industries historical prices to predict the future Ruentex Industries' volatility.| Risk Adjusted Performance | 0.0492 | |||
| Jensen Alpha | 0.0543 | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.4982 |
Ruentex Industries Backtested Returns
At this stage we consider Ruentex Stock to be very steady. Ruentex Industries maintains Sharpe Ratio (i.e., Efficiency) of 0.0043, which implies the firm had a 0.0043% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Ruentex Industries, which you can use to evaluate the volatility of the company. Please check Ruentex Industries' Risk Adjusted Performance of 0.0492, coefficient of variation of 1715.32, and Semi Deviation of 1.25 to confirm if the risk estimate we provide is consistent with the expected return of 0.0063%. The company holds a Beta of 0.14, which implies not very significant fluctuations relative to the market. As returns on the market increase, Ruentex Industries' returns are expected to increase less than the market. However, during the bear market, the loss of holding Ruentex Industries is expected to be smaller as well. Ruentex Industries right now holds a risk of 1.45%. Please check Ruentex Industries market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to decide if Ruentex Industries will be following its historical price patterns.
Auto-correlation | 0.36 |
Below average predictability
Ruentex Industries has below average predictability. Overlapping area represents the amount of predictability between Ruentex Industries time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Ruentex Industries price movement. The serial correlation of 0.36 indicates that just about 36.0% of current Ruentex Industries price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.36 | |
| Spearman Rank Test | 0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 2.42 |
Ruentex Industries lagged returns against current returns
Autocorrelation, which is Ruentex Industries 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 Ruentex Industries' stock expected returns. We can calculate the autocorrelation of Ruentex Industries returns to help us make a trade decision. For example, suppose you find that Ruentex Industries 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 |
Ruentex Industries 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 Ruentex Industries stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ruentex Industries stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ruentex Industries stock over time.
Current vs Lagged Prices |
| Timeline |
Ruentex Industries Lagged Returns
When evaluating Ruentex Industries' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ruentex Industries stock have on its future price. Ruentex Industries 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, Ruentex Industries autocorrelation shows the relationship between Ruentex Industries stock current value and its past values and can show if there is a momentum factor associated with investing in Ruentex Industries.
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 Ruentex Stock Analysis
When running Ruentex Industries' price analysis, check to measure Ruentex Industries' 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 Ruentex Industries is operating at the current time. Most of Ruentex Industries' value examination focuses on studying past and present price action to predict the probability of Ruentex Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ruentex Industries' price. Additionally, you may evaluate how the addition of Ruentex Industries to your portfolios can decrease your overall portfolio volatility.