Axiomtek (Taiwan) Market Value
| 3088 Stock | TWD 109.50 0.50 0.45% |
| Symbol | Axiomtek |
Axiomtek '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 Axiomtek'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 Axiomtek.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Axiomtek on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Axiomtek Co or generate 0.0% return on investment in Axiomtek over 30 days. Axiomtek is related to or competes with Quanta Computer, Wiwynn Corp, Getac Technology, IEI Integration, and Elitegroup Computer. More
Axiomtek 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 Axiomtek'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 Axiomtek Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.66 | |||
| Information Ratio | 0.1394 | |||
| Maximum Drawdown | 14.02 | |||
| Value At Risk | (1.96) | |||
| Potential Upside | 3.03 |
Axiomtek Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Axiomtek's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Axiomtek's standard deviation. In reality, there are many statistical measures that can use Axiomtek historical prices to predict the future Axiomtek's volatility.| Risk Adjusted Performance | 0.1722 | |||
| Jensen Alpha | 0.3667 | |||
| Total Risk Alpha | 0.0905 | |||
| Sortino Ratio | 0.1407 | |||
| Treynor Ratio | (3.50) |
Axiomtek Backtested Returns
Axiomtek appears to be very steady, given 3 months investment horizon. Axiomtek secures Sharpe Ratio (or Efficiency) of 0.21, which signifies that the company had a 0.21% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Axiomtek Co, which you can use to evaluate the volatility of the firm. Please makes use of Axiomtek's Downside Deviation of 1.66, risk adjusted performance of 0.1722, and Mean Deviation of 0.9922 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Axiomtek holds a performance score of 16. The firm shows a Beta (market volatility) of -0.1, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Axiomtek are expected to decrease at a much lower rate. During the bear market, Axiomtek is likely to outperform the market. Please check Axiomtek's downside deviation, information ratio, and the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Axiomtek's price patterns will revert.
Auto-correlation | 0.76 |
Good predictability
Axiomtek Co has good predictability. Overlapping area represents the amount of predictability between Axiomtek time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Axiomtek price movement. The serial correlation of 0.76 indicates that around 76.0% of current Axiomtek price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.76 | |
| Spearman Rank Test | 0.82 | |
| Residual Average | 0.0 | |
| Price Variance | 19.56 |
Axiomtek lagged returns against current returns
Autocorrelation, which is Axiomtek 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 Axiomtek's stock expected returns. We can calculate the autocorrelation of Axiomtek returns to help us make a trade decision. For example, suppose you find that Axiomtek 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 |
Axiomtek 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 Axiomtek stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Axiomtek stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Axiomtek stock over time.
Current vs Lagged Prices |
| Timeline |
Axiomtek Lagged Returns
When evaluating Axiomtek's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Axiomtek stock have on its future price. Axiomtek 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, Axiomtek autocorrelation shows the relationship between Axiomtek stock current value and its past values and can show if there is a momentum factor associated with investing in Axiomtek Co.
Regressed Prices |
| Timeline |
Pair Trading with Axiomtek
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 Axiomtek 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 Axiomtek will appreciate offsetting losses from the drop in the long position's value.Moving together with Axiomtek Stock
Moving against Axiomtek Stock
| 0.91 | 5289 | InnoDisk | PairCorr |
| 0.8 | 6579 | AAEON Technology Split | PairCorr |
| 0.8 | 6488 | GlobalWafers | PairCorr |
| 0.75 | 6756 | VIA Labs | PairCorr |
| 0.46 | 2331 | Elitegroup Computer | PairCorr |
The ability to find closely correlated positions to Axiomtek could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Axiomtek 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 Axiomtek - 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 Axiomtek Co to buy it.
The correlation of Axiomtek 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 Axiomtek moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Axiomtek 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 Axiomtek 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 Axiomtek Stock Analysis
When running Axiomtek's price analysis, check to measure Axiomtek'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 Axiomtek is operating at the current time. Most of Axiomtek's value examination focuses on studying past and present price action to predict the probability of Axiomtek's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Axiomtek's price. Additionally, you may evaluate how the addition of Axiomtek to your portfolios can decrease your overall portfolio volatility.