Joinsoon Electronics (Taiwan) Market Value
| 3322 Stock | TWD 18.20 0.45 2.54% |
| Symbol | Joinsoon |
Joinsoon Electronics '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 Joinsoon Electronics' 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 Joinsoon Electronics.
| 10/30/2023 |
| 11/23/2024 |
If you would invest 0.00 in Joinsoon Electronics on October 30, 2023 and sell it all today you would earn a total of 0.00 from holding Joinsoon Electronics MFG or generate 0.0% return on investment in Joinsoon Electronics over 390 days. Joinsoon Electronics is related to or competes with Advantech, IEI Integration, Flytech Technology, and ADLINK Technology. More
Joinsoon Electronics 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 Joinsoon Electronics' 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 Joinsoon Electronics MFG upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.29) | |||
| Maximum Drawdown | 9.32 | |||
| Value At Risk | (2.67) | |||
| Potential Upside | 2.05 |
Joinsoon Electronics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Joinsoon Electronics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Joinsoon Electronics' standard deviation. In reality, there are many statistical measures that can use Joinsoon Electronics historical prices to predict the future Joinsoon Electronics' volatility.| Risk Adjusted Performance | (0.15) | |||
| Jensen Alpha | (0.37) | |||
| Total Risk Alpha | (0.63) | |||
| Treynor Ratio | (11.06) |
Joinsoon Electronics MFG Backtested Returns
Joinsoon Electronics MFG holds Efficiency (Sharpe) Ratio of -0.21, which attests that the entity had a -0.21% return per unit of risk over the last 3 months. Joinsoon Electronics MFG exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Joinsoon Electronics' Standard Deviation of 1.69, market risk adjusted performance of (11.05), and Risk Adjusted Performance of (0.15) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.0328, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Joinsoon Electronics' returns are expected to increase less than the market. However, during the bear market, the loss of holding Joinsoon Electronics is expected to be smaller as well. At this point, Joinsoon Electronics MFG has a negative expected return of -0.36%. Please make sure to check out Joinsoon Electronics' mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Joinsoon Electronics MFG performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.08 |
Virtually no predictability
Joinsoon Electronics MFG has virtually no predictability. Overlapping area represents the amount of predictability between Joinsoon Electronics time series from 30th of October 2023 to 12th of May 2024 and 12th of May 2024 to 23rd 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 Joinsoon Electronics MFG price movement. The serial correlation of 0.08 indicates that barely 8.0% of current Joinsoon Electronics price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.08 | |
| Spearman Rank Test | 0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 3.21 |
Joinsoon Electronics MFG lagged returns against current returns
Autocorrelation, which is Joinsoon Electronics 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 Joinsoon Electronics' stock expected returns. We can calculate the autocorrelation of Joinsoon Electronics returns to help us make a trade decision. For example, suppose you find that Joinsoon Electronics 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 |
Joinsoon Electronics 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 Joinsoon Electronics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Joinsoon Electronics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Joinsoon Electronics stock over time.
Current vs Lagged Prices |
| Timeline |
Joinsoon Electronics Lagged Returns
When evaluating Joinsoon Electronics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Joinsoon Electronics stock have on its future price. Joinsoon Electronics 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, Joinsoon Electronics autocorrelation shows the relationship between Joinsoon Electronics stock current value and its past values and can show if there is a momentum factor associated with investing in Joinsoon Electronics MFG.
Regressed Prices |
| Timeline |
Pair Trading with Joinsoon Electronics
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 Joinsoon Electronics 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 Joinsoon Electronics will appreciate offsetting losses from the drop in the long position's value.Moving together with Joinsoon Stock
Moving against Joinsoon Stock
| 0.82 | 2360 | Chroma ATE | PairCorr |
| 0.69 | 2610 | China Airlines | PairCorr |
| 0.68 | 2345 | Accton Technology Corp | PairCorr |
| 0.63 | 2317 | Hon Hai Precision | PairCorr |
| 0.58 | 0057 | Fubon MSCI Taiwan | PairCorr |
The ability to find closely correlated positions to Joinsoon Electronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Joinsoon Electronics 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 Joinsoon Electronics - 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 Joinsoon Electronics MFG to buy it.
The correlation of Joinsoon Electronics 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 Joinsoon Electronics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Joinsoon Electronics MFG 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 Joinsoon Electronics 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 Joinsoon Stock Analysis
When running Joinsoon Electronics' price analysis, check to measure Joinsoon Electronics' 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 Joinsoon Electronics is operating at the current time. Most of Joinsoon Electronics' value examination focuses on studying past and present price action to predict the probability of Joinsoon Electronics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Joinsoon Electronics' price. Additionally, you may evaluate how the addition of Joinsoon Electronics to your portfolios can decrease your overall portfolio volatility.