Kao Fong (Taiwan) Market Value
| 4510 Stock | TWD 47.60 4.30 9.93% |
| Symbol | Kao |
Kao Fong '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 Kao Fong'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 Kao Fong.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Kao Fong on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Kao Fong Machinery or generate 0.0% return on investment in Kao Fong over 30 days. Kao Fong is related to or competes with Chailease Holding, United Radiant, Univacco Technology, AzureWave Technologies, Arbor Technology, STL Technology, and Simplo Technology. Kao Fong Machinery Co., Ltd produces and sells milling machines and machining centers in Taiwan and internationally More
Kao Fong 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 Kao Fong'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 Kao Fong Machinery upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.69 | |||
| Information Ratio | 0.0423 | |||
| Maximum Drawdown | 19.34 | |||
| Value At Risk | (6.26) | |||
| Potential Upside | 9.95 |
Kao Fong Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kao Fong's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kao Fong's standard deviation. In reality, there are many statistical measures that can use Kao Fong historical prices to predict the future Kao Fong's volatility.| Risk Adjusted Performance | 0.0621 | |||
| Jensen Alpha | 0.2695 | |||
| Total Risk Alpha | (0.41) | |||
| Sortino Ratio | 0.0531 | |||
| Treynor Ratio | 0.8092 |
Kao Fong Machinery Backtested Returns
Kao Fong Machinery has Sharpe Ratio of -0.0178, which conveys that the firm had a -0.0178% return per unit of risk over the last 3 months. Kao Fong exposes thirty different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Kao Fong's Risk Adjusted Performance of 0.0621, mean deviation of 3.56, and Downside Deviation of 3.69 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.39, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Kao Fong's returns are expected to increase less than the market. However, during the bear market, the loss of holding Kao Fong is expected to be smaller as well. At this point, Kao Fong Machinery has a negative expected return of -0.077%. Please make sure to verify Kao Fong's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Kao Fong Machinery performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.12 |
Insignificant predictability
Kao Fong Machinery has insignificant predictability. Overlapping area represents the amount of predictability between Kao Fong time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Kao Fong Machinery price movement. The serial correlation of 0.12 indicates that less than 12.0% of current Kao Fong price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 6.22 |
Kao Fong Machinery lagged returns against current returns
Autocorrelation, which is Kao Fong 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 Kao Fong's stock expected returns. We can calculate the autocorrelation of Kao Fong returns to help us make a trade decision. For example, suppose you find that Kao Fong 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 |
Kao Fong 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 Kao Fong stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kao Fong stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kao Fong stock over time.
Current vs Lagged Prices |
| Timeline |
Kao Fong Lagged Returns
When evaluating Kao Fong's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kao Fong stock have on its future price. Kao Fong 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, Kao Fong autocorrelation shows the relationship between Kao Fong stock current value and its past values and can show if there is a momentum factor associated with investing in Kao Fong Machinery.
Regressed Prices |
| Timeline |
Pair Trading with Kao Fong
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 Kao Fong 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 Kao Fong will appreciate offsetting losses from the drop in the long position's value.Moving against Kao Stock
| 0.62 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.6 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.57 | 1504 | TECO Electric Machinery | PairCorr |
| 0.55 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.47 | 1590 | Airtac International | PairCorr |
The ability to find closely correlated positions to Kao Fong could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kao Fong 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 Kao Fong - 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 Kao Fong Machinery to buy it.
The correlation of Kao Fong 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 Kao Fong moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kao Fong Machinery 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 Kao Fong 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 Kao Stock Analysis
When running Kao Fong's price analysis, check to measure Kao Fong'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 Kao Fong is operating at the current time. Most of Kao Fong's value examination focuses on studying past and present price action to predict the probability of Kao Fong's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Kao Fong's price. Additionally, you may evaluate how the addition of Kao Fong to your portfolios can decrease your overall portfolio volatility.