New Advanced (Taiwan) Market Value
| 3465 Stock | TWD 53.50 1.50 2.88% |
| Symbol | New |
New Advanced '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 New Advanced'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 New Advanced.
| 12/29/2023 |
| 11/23/2024 |
If you would invest 0.00 in New Advanced on December 29, 2023 and sell it all today you would earn a total of 0.00 from holding New Advanced Electronics or generate 0.0% return on investment in New Advanced over 330 days. New Advanced is related to or competes with Advantech, IEI Integration, Flytech Technology, and ADLINK Technology. New Advanced Electronics Technologies Co., Ltd More
New Advanced 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 New Advanced'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 New Advanced Electronics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.29) | |||
| Maximum Drawdown | 10.34 | |||
| Value At Risk | (2.77) | |||
| Potential Upside | 1.61 |
New Advanced Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New Advanced's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New Advanced's standard deviation. In reality, there are many statistical measures that can use New Advanced historical prices to predict the future New Advanced's volatility.| Risk Adjusted Performance | (0.15) | |||
| Jensen Alpha | (0.34) | |||
| Total Risk Alpha | (0.54) | |||
| Treynor Ratio | (1.30) |
New Advanced Electronics Backtested Returns
New Advanced Electronics has Sharpe Ratio of -0.18, which conveys that the firm had a -0.18% return per unit of risk over the last 3 months. New Advanced exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify New Advanced's Mean Deviation of 0.9861, risk adjusted performance of (0.15), and Standard Deviation of 1.5 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.24, which conveys not very significant fluctuations relative to the market. As returns on the market increase, New Advanced's returns are expected to increase less than the market. However, during the bear market, the loss of holding New Advanced is expected to be smaller as well. At this point, New Advanced Electronics has a negative expected return of -0.28%. Please make sure to verify New Advanced's treynor ratio, value at risk, skewness, as well as the relationship between the maximum drawdown and potential upside , to decide if New Advanced Electronics performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.71 |
Good predictability
New Advanced Electronics has good predictability. Overlapping area represents the amount of predictability between New Advanced time series from 29th of December 2023 to 11th of June 2024 and 11th of June 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 New Advanced Electronics price movement. The serial correlation of 0.71 indicates that around 71.0% of current New Advanced price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.71 | |
| Spearman Rank Test | 0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 8.18 |
New Advanced Electronics lagged returns against current returns
Autocorrelation, which is New Advanced 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 New Advanced's stock expected returns. We can calculate the autocorrelation of New Advanced returns to help us make a trade decision. For example, suppose you find that New Advanced 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 |
New Advanced 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 New Advanced stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New Advanced stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New Advanced stock over time.
Current vs Lagged Prices |
| Timeline |
New Advanced Lagged Returns
When evaluating New Advanced's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New Advanced stock have on its future price. New Advanced 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, New Advanced autocorrelation shows the relationship between New Advanced stock current value and its past values and can show if there is a momentum factor associated with investing in New Advanced Electronics.
Regressed Prices |
| Timeline |
Pair Trading with New Advanced
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 New Advanced 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 New Advanced will appreciate offsetting losses from the drop in the long position's value.Moving together with New Stock
Moving against New Stock
| 0.93 | 2610 | China Airlines | PairCorr |
| 0.83 | 2345 | Accton Technology Corp | PairCorr |
| 0.71 | 3533 | Lotes | PairCorr |
| 0.7 | 2360 | Chroma ATE | PairCorr |
| 0.66 | 2317 | Hon Hai Precision | PairCorr |
The ability to find closely correlated positions to New Advanced could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace New Advanced 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 New Advanced - 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 New Advanced Electronics to buy it.
The correlation of New Advanced 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 New Advanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if New Advanced Electronics 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 New Advanced 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 New Stock Analysis
When running New Advanced's price analysis, check to measure New Advanced'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 New Advanced is operating at the current time. Most of New Advanced's value examination focuses on studying past and present price action to predict the probability of New Advanced's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move New Advanced's price. Additionally, you may evaluate how the addition of New Advanced to your portfolios can decrease your overall portfolio volatility.