Xintec (Taiwan) Market Value
| 3374 Stock | TWD 192.50 1.50 0.79% |
| Symbol | Xintec |
Xintec '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 Xintec'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 Xintec.
| 12/14/2022 |
| 12/03/2024 |
If you would invest 0.00 in Xintec on December 14, 2022 and sell it all today you would earn a total of 0.00 from holding Xintec or generate 0.0% return on investment in Xintec over 720 days. Xintec is related to or competes with Taiwan Semiconductor, Yang Ming, AU Optronics, Innolux Corp, Nan Ya, and Chunghwa Telecom. More
Xintec 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 Xintec'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 Xintec upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 17.66 | |||
| Value At Risk | (5.67) | |||
| Potential Upside | 4.81 |
Xintec Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Xintec's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Xintec's standard deviation. In reality, there are many statistical measures that can use Xintec historical prices to predict the future Xintec's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.70) | |||
| Total Risk Alpha | (0.97) | |||
| Treynor Ratio | (0.35) |
Xintec Backtested Returns
Xintec shows Sharpe Ratio of -0.12, which attests that the company had a -0.12% return per unit of risk over the last 3 months. Xintec exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Xintec's Mean Deviation of 2.2, market risk adjusted performance of (0.34), and Standard Deviation of 3.0 to validate the risk estimate we provide. The firm maintains a market beta of 1.51, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Xintec will likely underperform. At this point, Xintec has a negative expected return of -0.35%. Please make sure to check out Xintec's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Xintec performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.60 |
Good predictability
Xintec has good predictability. Overlapping area represents the amount of predictability between Xintec time series from 14th of December 2022 to 9th of December 2023 and 9th of December 2023 to 3rd 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 Xintec price movement. The serial correlation of 0.6 indicates that roughly 60.0% of current Xintec price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.6 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 2452.64 |
Xintec lagged returns against current returns
Autocorrelation, which is Xintec 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 Xintec's stock expected returns. We can calculate the autocorrelation of Xintec returns to help us make a trade decision. For example, suppose you find that Xintec 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 |
Xintec 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 Xintec stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Xintec stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Xintec stock over time.
Current vs Lagged Prices |
| Timeline |
Xintec Lagged Returns
When evaluating Xintec's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Xintec stock have on its future price. Xintec 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, Xintec autocorrelation shows the relationship between Xintec stock current value and its past values and can show if there is a momentum factor associated with investing in Xintec.
Regressed Prices |
| Timeline |
Pair Trading with Xintec
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 Xintec 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 Xintec will appreciate offsetting losses from the drop in the long position's value.Moving against Xintec Stock
| 0.74 | 9904 | Pou Chen Corp | PairCorr |
| 0.71 | 2881B | Fubon Financial Holding | PairCorr |
| 0.66 | 2881A | Fubon Financial Holding | PairCorr |
| 0.63 | 2882B | Cathay Financial Holding | PairCorr |
| 0.46 | 2882 | Cathay Financial Holding | PairCorr |
The ability to find closely correlated positions to Xintec could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Xintec 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 Xintec - 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 Xintec to buy it.
The correlation of Xintec 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 Xintec moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Xintec 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 Xintec 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 Xintec Stock Analysis
When running Xintec's price analysis, check to measure Xintec'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 Xintec is operating at the current time. Most of Xintec's value examination focuses on studying past and present price action to predict the probability of Xintec's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Xintec's price. Additionally, you may evaluate how the addition of Xintec to your portfolios can decrease your overall portfolio volatility.