Service Quality (Taiwan) Market Value
| 3219 Stock | TWD 51.00 0.20 0.39% |
| Symbol | Service |
Service Quality '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 Service Quality'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 Service Quality.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Service Quality on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Service Quality Technology or generate 0.0% return on investment in Service Quality over 180 days. Service Quality is related to or competes with First Copper, Tex Ray, Ton Yi, Emerging Display, and Thermaltake Technology. Service Quality Group Co., Ltd. engages in the research, development, and trading of electronic components in Taiwan and... More
Service Quality 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 Service Quality'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 Service Quality Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 18.91 | |||
| Value At Risk | (7.37) | |||
| Potential Upside | 8.06 |
Service Quality Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Service Quality's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Service Quality's standard deviation. In reality, there are many statistical measures that can use Service Quality historical prices to predict the future Service Quality's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.78) | |||
| Treynor Ratio | (0.26) |
Service Quality Tech Backtested Returns
Service Quality Tech owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.009, which indicates the firm had a -0.009% return per unit of risk over the last 3 months. Service Quality Technology exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Service Quality's Coefficient Of Variation of (7,201), variance of 17.93, and insignificant Risk Adjusted Performance to confirm the risk estimate we provide. The entity has a beta of 0.27, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Service Quality's returns are expected to increase less than the market. However, during the bear market, the loss of holding Service Quality is expected to be smaller as well. At this point, Service Quality Tech has a negative expected return of -0.038%. Please make sure to validate Service Quality's jensen alpha, treynor ratio, value at risk, as well as the relationship between the total risk alpha and maximum drawdown , to decide if Service Quality Tech performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.4 |
Poor reverse predictability
Service Quality Technology has poor reverse predictability. Overlapping area represents the amount of predictability between Service Quality time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 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 Service Quality Tech price movement. The serial correlation of -0.4 indicates that just about 40.0% of current Service Quality price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.4 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 12.84 |
Service Quality Tech lagged returns against current returns
Autocorrelation, which is Service Quality 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 Service Quality's stock expected returns. We can calculate the autocorrelation of Service Quality returns to help us make a trade decision. For example, suppose you find that Service Quality 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 |
Service Quality 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 Service Quality stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Service Quality stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Service Quality stock over time.
Current vs Lagged Prices |
| Timeline |
Service Quality Lagged Returns
When evaluating Service Quality's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Service Quality stock have on its future price. Service Quality 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, Service Quality autocorrelation shows the relationship between Service Quality stock current value and its past values and can show if there is a momentum factor associated with investing in Service Quality Technology.
Regressed Prices |
| Timeline |
Pair Trading with Service Quality
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 Service Quality 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 Service Quality will appreciate offsetting losses from the drop in the long position's value.Moving against Service Stock
The ability to find closely correlated positions to Service Quality could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Service Quality 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 Service Quality - 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 Service Quality Technology to buy it.
The correlation of Service Quality 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 Service Quality moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Service Quality Tech 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 Service Quality 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 Service Stock Analysis
When running Service Quality's price analysis, check to measure Service Quality'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 Service Quality is operating at the current time. Most of Service Quality's value examination focuses on studying past and present price action to predict the probability of Service Quality's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Service Quality's price. Additionally, you may evaluate how the addition of Service Quality to your portfolios can decrease your overall portfolio volatility.