SS Healthcare (Taiwan) Market Value
| 4198 Stock | TWD 32.20 1.50 4.45% |
| Symbol | 4198 |
SS Healthcare '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 SS Healthcare'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 SS Healthcare.
| 08/30/2024 |
| 11/28/2024 |
If you would invest 0.00 in SS Healthcare on August 30, 2024 and sell it all today you would earn a total of 0.00 from holding SS Healthcare Holding or generate 0.0% return on investment in SS Healthcare over 90 days. SS Healthcare is related to or competes with Universal Vision, Excelsior Medical, Delta Asia, Hi Clearance, Brighten Optix, Medtecs International, and United Orthopedic. Swissray Global Healthcare Holding Ltd., together with its subsidiaries, primarily focuses on the research and developme... More
SS Healthcare 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 SS Healthcare'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 SS Healthcare Holding upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 16.67 | |||
| Value At Risk | (4.74) | |||
| Potential Upside | 5.35 |
SS Healthcare Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SS Healthcare's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SS Healthcare's standard deviation. In reality, there are many statistical measures that can use SS Healthcare historical prices to predict the future SS Healthcare's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.76) | |||
| Treynor Ratio | 1.02 |
SS Healthcare Holding Backtested Returns
SS Healthcare Holding retains Efficiency (Sharpe Ratio) of -0.0242, which indicates the firm had a -0.0242% return per unit of price deviation over the last 3 months. SS Healthcare exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate SS Healthcare's Standard Deviation of 3.43, risk adjusted performance of (0.04), and Mean Deviation of 2.39 to confirm the risk estimate we provide. The entity owns a Beta (Systematic Risk) of -0.22, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning SS Healthcare are expected to decrease at a much lower rate. During the bear market, SS Healthcare is likely to outperform the market. At this point, SS Healthcare Holding has a negative expected return of -0.0845%. Please make sure to validate SS Healthcare's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if SS Healthcare Holding performance from the past will be repeated at some future date.
Auto-correlation | -0.2 |
Insignificant reverse predictability
SS Healthcare Holding has insignificant reverse predictability. Overlapping area represents the amount of predictability between SS Healthcare time series from 30th of August 2024 to 14th of October 2024 and 14th of October 2024 to 28th 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 SS Healthcare Holding price movement. The serial correlation of -0.2 indicates that over 20.0% of current SS Healthcare price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.2 | |
| Spearman Rank Test | -0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 1.08 |
SS Healthcare Holding lagged returns against current returns
Autocorrelation, which is SS Healthcare 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 SS Healthcare's stock expected returns. We can calculate the autocorrelation of SS Healthcare returns to help us make a trade decision. For example, suppose you find that SS Healthcare 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 |
SS Healthcare 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 SS Healthcare stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SS Healthcare stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SS Healthcare stock over time.
Current vs Lagged Prices |
| Timeline |
SS Healthcare Lagged Returns
When evaluating SS Healthcare's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SS Healthcare stock have on its future price. SS Healthcare 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, SS Healthcare autocorrelation shows the relationship between SS Healthcare stock current value and its past values and can show if there is a momentum factor associated with investing in SS Healthcare Holding.
Regressed Prices |
| Timeline |
Pair Trading with SS Healthcare
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 SS Healthcare 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 SS Healthcare will appreciate offsetting losses from the drop in the long position's value.Moving against 4198 Stock
The ability to find closely correlated positions to SS Healthcare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SS Healthcare 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 SS Healthcare - 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 SS Healthcare Holding to buy it.
The correlation of SS Healthcare 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 SS Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SS Healthcare 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 SS Healthcare 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 4198 Stock Analysis
When running SS Healthcare's price analysis, check to measure SS Healthcare'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 SS Healthcare is operating at the current time. Most of SS Healthcare's value examination focuses on studying past and present price action to predict the probability of SS Healthcare's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move SS Healthcare's price. Additionally, you may evaluate how the addition of SS Healthcare to your portfolios can decrease your overall portfolio volatility.