Hsinjing Holding (Taiwan) Market Value
| 3713 Stock | TWD 22.65 0.20 0.89% |
| Symbol | Hsinjing |
Hsinjing Holding '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 Hsinjing Holding'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 Hsinjing Holding.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Hsinjing Holding on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Hsinjing Holding Co or generate 0.0% return on investment in Hsinjing Holding over 720 days. Hsinjing Holding is related to or competes with Motech Industries, Danen Technology, and Falcon Power. More
Hsinjing Holding 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 Hsinjing Holding'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 Hsinjing Holding Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.25) | |||
| Maximum Drawdown | 6.83 | |||
| Value At Risk | (2.77) | |||
| Potential Upside | 1.97 |
Hsinjing Holding Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hsinjing Holding's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hsinjing Holding's standard deviation. In reality, there are many statistical measures that can use Hsinjing Holding historical prices to predict the future Hsinjing Holding's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.24) | |||
| Total Risk Alpha | (0.48) | |||
| Treynor Ratio | (4.30) |
Hsinjing Holding Backtested Returns
Hsinjing Holding holds Efficiency (Sharpe) Ratio of -0.11, which attests that the entity had a -0.11% return per unit of risk over the last 3 months. Hsinjing Holding exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hsinjing Holding's Standard Deviation of 1.46, risk adjusted performance of (0.11), and Market Risk Adjusted Performance of (4.29) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.0551, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hsinjing Holding's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hsinjing Holding is expected to be smaller as well. At this point, Hsinjing Holding has a negative expected return of -0.15%. Please make sure to check out Hsinjing Holding's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Hsinjing Holding performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.38 |
Below average predictability
Hsinjing Holding Co has below average predictability. Overlapping area represents the amount of predictability between Hsinjing Holding time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 Hsinjing Holding price movement. The serial correlation of 0.38 indicates that just about 38.0% of current Hsinjing Holding price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.38 | |
| Spearman Rank Test | 0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 5.8 |
Hsinjing Holding lagged returns against current returns
Autocorrelation, which is Hsinjing Holding 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 Hsinjing Holding's stock expected returns. We can calculate the autocorrelation of Hsinjing Holding returns to help us make a trade decision. For example, suppose you find that Hsinjing Holding 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 |
Hsinjing Holding 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 Hsinjing Holding stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hsinjing Holding stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hsinjing Holding stock over time.
Current vs Lagged Prices |
| Timeline |
Hsinjing Holding Lagged Returns
When evaluating Hsinjing Holding's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hsinjing Holding stock have on its future price. Hsinjing Holding 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, Hsinjing Holding autocorrelation shows the relationship between Hsinjing Holding stock current value and its past values and can show if there is a momentum factor associated with investing in Hsinjing Holding Co.
Regressed Prices |
| Timeline |
Pair Trading with Hsinjing Holding
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 Hsinjing Holding 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 Hsinjing Holding will appreciate offsetting losses from the drop in the long position's value.Moving together with Hsinjing Stock
| 0.68 | 3576 | United Renewable Energy | PairCorr |
| 0.69 | 6443 | TSEC Corp | PairCorr |
| 0.65 | 6244 | Motech Industries | PairCorr |
| 0.76 | 3691 | Gigasolar Materials | PairCorr |
| 0.83 | 4934 | Tainergy Tech | PairCorr |
Moving against Hsinjing Stock
| 0.65 | 1235 | Shin Tai Industry | PairCorr |
| 0.63 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.6 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.49 | 0053 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Hsinjing Holding could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hsinjing Holding 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 Hsinjing Holding - 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 Hsinjing Holding Co to buy it.
The correlation of Hsinjing Holding 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 Hsinjing Holding moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hsinjing Holding 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 Hsinjing Holding 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 Hsinjing Stock Analysis
When running Hsinjing Holding's price analysis, check to measure Hsinjing Holding'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 Hsinjing Holding is operating at the current time. Most of Hsinjing Holding's value examination focuses on studying past and present price action to predict the probability of Hsinjing Holding's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hsinjing Holding's price. Additionally, you may evaluate how the addition of Hsinjing Holding to your portfolios can decrease your overall portfolio volatility.