SynCore Biotechnology (Taiwan) Market Value
| 4192 Stock | TWD 36.40 0.10 0.28% |
| Symbol | SynCore |
SynCore Biotechnology '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 SynCore Biotechnology'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 SynCore Biotechnology.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in SynCore Biotechnology on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding SynCore Biotechnology Co or generate 0.0% return on investment in SynCore Biotechnology over 180 days. SynCore Biotechnology is related to or competes with OBI Pharma, and Adimmune Corp. ,Ltd, a biopharmaceutical company, engages in the research and development, manufacture, and marketing of drugs in the a... More
SynCore Biotechnology 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 SynCore Biotechnology'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 SynCore Biotechnology Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 6.09 | |||
| Value At Risk | (2.50) | |||
| Potential Upside | 2.53 |
SynCore Biotechnology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SynCore Biotechnology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SynCore Biotechnology's standard deviation. In reality, there are many statistical measures that can use SynCore Biotechnology historical prices to predict the future SynCore Biotechnology's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.33) | |||
| Treynor Ratio | (0.79) |
SynCore Biotechnology Backtested Returns
SynCore Biotechnology owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0942, which indicates the firm had a -0.0942% return per unit of risk over the last 3 months. SynCore Biotechnology Co exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate SynCore Biotechnology's Coefficient Of Variation of (1,166), risk adjusted performance of (0.06), and Variance of 1.79 to confirm the risk estimate we provide. The entity has a beta of 0.16, which indicates not very significant fluctuations relative to the market. As returns on the market increase, SynCore Biotechnology's returns are expected to increase less than the market. However, during the bear market, the loss of holding SynCore Biotechnology is expected to be smaller as well. At this point, SynCore Biotechnology has a negative expected return of -0.12%. Please make sure to validate SynCore Biotechnology's jensen alpha, treynor ratio, and the relationship between the information ratio and total risk alpha , to decide if SynCore Biotechnology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.56 |
Modest predictability
SynCore Biotechnology Co has modest predictability. Overlapping area represents the amount of predictability between SynCore Biotechnology time series from 30th of May 2024 to 28th of August 2024 and 28th of August 2024 to 26th 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 SynCore Biotechnology price movement. The serial correlation of 0.56 indicates that roughly 56.0% of current SynCore Biotechnology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.56 | |
| Spearman Rank Test | 0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 1.45 |
SynCore Biotechnology lagged returns against current returns
Autocorrelation, which is SynCore Biotechnology 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 SynCore Biotechnology's stock expected returns. We can calculate the autocorrelation of SynCore Biotechnology returns to help us make a trade decision. For example, suppose you find that SynCore Biotechnology 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 |
SynCore Biotechnology 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 SynCore Biotechnology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SynCore Biotechnology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SynCore Biotechnology stock over time.
Current vs Lagged Prices |
| Timeline |
SynCore Biotechnology Lagged Returns
When evaluating SynCore Biotechnology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SynCore Biotechnology stock have on its future price. SynCore Biotechnology 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, SynCore Biotechnology autocorrelation shows the relationship between SynCore Biotechnology stock current value and its past values and can show if there is a momentum factor associated with investing in SynCore Biotechnology Co.
Regressed Prices |
| Timeline |
Pair Trading with SynCore Biotechnology
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 SynCore Biotechnology 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 SynCore Biotechnology will appreciate offsetting losses from the drop in the long position's value.Moving together with SynCore Stock
| 0.86 | 4743 | Oneness Biotech | PairCorr |
| 0.89 | 6547 | Medigen Vaccine Biologics | PairCorr |
| 0.83 | 4174 | OBI Pharma | PairCorr |
Moving against SynCore Stock
| 0.87 | 2882B | Cathay Financial Holding | PairCorr |
| 0.87 | 2891 | CTBC Financial Holding | PairCorr |
| 0.86 | 2891B | CTBC Financial Holding | PairCorr |
| 0.84 | 2881A | Fubon Financial Holding | PairCorr |
| 0.75 | 2881B | Fubon Financial Holding | PairCorr |
The ability to find closely correlated positions to SynCore Biotechnology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SynCore Biotechnology 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 SynCore Biotechnology - 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 SynCore Biotechnology Co to buy it.
The correlation of SynCore Biotechnology 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 SynCore Biotechnology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SynCore Biotechnology 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 SynCore Biotechnology 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 SynCore Stock Analysis
When running SynCore Biotechnology's price analysis, check to measure SynCore Biotechnology'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 SynCore Biotechnology is operating at the current time. Most of SynCore Biotechnology's value examination focuses on studying past and present price action to predict the probability of SynCore Biotechnology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move SynCore Biotechnology's price. Additionally, you may evaluate how the addition of SynCore Biotechnology to your portfolios can decrease your overall portfolio volatility.