BenQ Medical (Taiwan) Market Value
| 4116 Stock | TWD 48.20 0.95 2.01% |
| Symbol | BenQ |
BenQ Medical '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 BenQ Medical'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 BenQ Medical.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in BenQ Medical on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding BenQ Medical Technology or generate 0.0% return on investment in BenQ Medical over 30 days. BenQ Medical is related to or competes with StShine Optical, Bioteque, TTY Biopharm, and Apex Biotechnology. BenQ Medical Technology Corporation provides various medical consumables and equipment for major medical institutions in... More
BenQ Medical 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 BenQ Medical'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 BenQ Medical Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 5.07 | |||
| Value At Risk | (1.62) | |||
| Potential Upside | 1.81 |
BenQ Medical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BenQ Medical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BenQ Medical's standard deviation. In reality, there are many statistical measures that can use BenQ Medical historical prices to predict the future BenQ Medical's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.22) | |||
| Treynor Ratio | (0.29) |
BenQ Medical Technology Backtested Returns
BenQ Medical Technology secures Sharpe Ratio (or Efficiency) of -0.0887, which signifies that the company had a -0.0887% return per unit of risk over the last 3 months. BenQ Medical Technology exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BenQ Medical's Standard Deviation of 0.9574, risk adjusted performance of (0.04), and Mean Deviation of 0.7153 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.22, which signifies not very significant fluctuations relative to the market. As returns on the market increase, BenQ Medical's returns are expected to increase less than the market. However, during the bear market, the loss of holding BenQ Medical is expected to be smaller as well. At this point, BenQ Medical Technology has a negative expected return of -0.0851%. Please make sure to confirm BenQ Medical's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if BenQ Medical Technology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.11 |
Insignificant predictability
BenQ Medical Technology has insignificant predictability. Overlapping area represents the amount of predictability between BenQ Medical time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 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 BenQ Medical Technology price movement. The serial correlation of 0.11 indicates that less than 11.0% of current BenQ Medical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.11 | |
| Spearman Rank Test | 0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 0.13 |
BenQ Medical Technology lagged returns against current returns
Autocorrelation, which is BenQ Medical 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 BenQ Medical's stock expected returns. We can calculate the autocorrelation of BenQ Medical returns to help us make a trade decision. For example, suppose you find that BenQ Medical 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 |
BenQ Medical 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 BenQ Medical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BenQ Medical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BenQ Medical stock over time.
Current vs Lagged Prices |
| Timeline |
BenQ Medical Lagged Returns
When evaluating BenQ Medical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BenQ Medical stock have on its future price. BenQ Medical 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, BenQ Medical autocorrelation shows the relationship between BenQ Medical stock current value and its past values and can show if there is a momentum factor associated with investing in BenQ Medical Technology.
Regressed Prices |
| Timeline |
Pair Trading with BenQ Medical
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 BenQ Medical 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 BenQ Medical will appreciate offsetting losses from the drop in the long position's value.Moving together with BenQ Stock
| 0.76 | 3218 | Universal Vision Bio | PairCorr |
| 0.63 | 4104 | Excelsior Medical | PairCorr |
| 0.8 | 6762 | Delta Asia International | PairCorr |
Moving against BenQ Stock
| 0.8 | 3211 | Dynapack International | PairCorr |
| 0.63 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.59 | 2609 | Yang Ming Marine | PairCorr |
| 0.45 | 1432 | Trk Corp | PairCorr |
| 0.41 | 4129 | United Orthopedic | PairCorr |
The ability to find closely correlated positions to BenQ Medical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BenQ Medical 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 BenQ Medical - 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 BenQ Medical Technology to buy it.
The correlation of BenQ Medical 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 BenQ Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BenQ Medical Technology 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 BenQ Medical 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 BenQ Stock Analysis
When running BenQ Medical's price analysis, check to measure BenQ Medical'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 BenQ Medical is operating at the current time. Most of BenQ Medical's value examination focuses on studying past and present price action to predict the probability of BenQ Medical's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move BenQ Medical's price. Additionally, you may evaluate how the addition of BenQ Medical to your portfolios can decrease your overall portfolio volatility.