Solid State (Taiwan) Market Value
| 3259 Stock | TWD 26.00 0.40 1.56% |
| Symbol | Solid |
Solid State '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 Solid State'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 Solid State.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Solid State on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Solid State System or generate 0.0% return on investment in Solid State over 30 days. Solid State is related to or competes with Microtips Technology, Te Chang, STL Technology, Kindom Construction, Sunspring Metal, WINSON Machinery, and Pacific Construction. More
Solid State 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 Solid State'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 Solid State System upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 14.48 | |||
| Value At Risk | (3.23) | |||
| Potential Upside | 2.85 |
Solid State Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Solid State's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Solid State's standard deviation. In reality, there are many statistical measures that can use Solid State historical prices to predict the future Solid State's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.46) | |||
| Treynor Ratio | (0.80) |
Solid State System Backtested Returns
Solid State System owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0321, which indicates the firm had a -0.0321% return per unit of risk over the last 3 months. Solid State System exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Solid State's Risk Adjusted Performance of (0.02), coefficient of variation of (2,458), and Variance of 4.79 to confirm the risk estimate we provide. The entity has a beta of 0.12, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Solid State's returns are expected to increase less than the market. However, during the bear market, the loss of holding Solid State is expected to be smaller as well. At this point, Solid State System has a negative expected return of -0.0702%. Please make sure to validate Solid State's coefficient of variation, information ratio, total risk alpha, as well as the relationship between the standard deviation and jensen alpha , to decide if Solid State System performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.25 |
Weak reverse predictability
Solid State System has weak reverse predictability. Overlapping area represents the amount of predictability between Solid State time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st of December 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 Solid State System price movement. The serial correlation of -0.25 indicates that over 25.0% of current Solid State price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.25 | |
| Spearman Rank Test | -0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.14 |
Solid State System lagged returns against current returns
Autocorrelation, which is Solid State 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 Solid State's stock expected returns. We can calculate the autocorrelation of Solid State returns to help us make a trade decision. For example, suppose you find that Solid State 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 |
Solid State 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 Solid State stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Solid State stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Solid State stock over time.
Current vs Lagged Prices |
| Timeline |
Solid State Lagged Returns
When evaluating Solid State's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Solid State stock have on its future price. Solid State 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, Solid State autocorrelation shows the relationship between Solid State stock current value and its past values and can show if there is a momentum factor associated with investing in Solid State System.
Regressed Prices |
| Timeline |
Pair Trading with Solid State
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 Solid State 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 Solid State will appreciate offsetting losses from the drop in the long position's value.Moving together with Solid Stock
The ability to find closely correlated positions to Solid State could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Solid State 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 Solid State - 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 Solid State System to buy it.
The correlation of Solid State 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 Solid State moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Solid State System 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 Solid State 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 Solid Stock Analysis
When running Solid State's price analysis, check to measure Solid State'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 Solid State is operating at the current time. Most of Solid State's value examination focuses on studying past and present price action to predict the probability of Solid State's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Solid State's price. Additionally, you may evaluate how the addition of Solid State to your portfolios can decrease your overall portfolio volatility.