Sunmax Biotechnology (Taiwan) Market Value
| 4728 Stock | TWD 278.50 0.50 0.18% |
| Symbol | Sunmax |
Sunmax 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 Sunmax 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 Sunmax Biotechnology.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Sunmax Biotechnology on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Sunmax Biotechnology Co or generate 0.0% return on investment in Sunmax Biotechnology over 30 days. Sunmax Biotechnology is related to or competes with OBI Pharma, Tanvex BioPharma, and Adimmune Corp. More
Sunmax 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 Sunmax 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 Sunmax Biotechnology Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 7.14 | |||
| Value At Risk | (2.24) | |||
| Potential Upside | 2.25 |
Sunmax Biotechnology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sunmax Biotechnology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sunmax Biotechnology's standard deviation. In reality, there are many statistical measures that can use Sunmax Biotechnology historical prices to predict the future Sunmax Biotechnology's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.25) | |||
| Treynor Ratio | (0.09) |
Sunmax Biotechnology Backtested Returns
Sunmax Biotechnology owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0438, which indicates the firm had a -0.0438% return per unit of risk over the last 3 months. Sunmax Biotechnology Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sunmax Biotechnology's Coefficient Of Variation of (10,080), insignificant risk adjusted performance, and Variance of 2.05 to confirm the risk estimate we provide. The entity has a beta of 0.28, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Sunmax Biotechnology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sunmax Biotechnology is expected to be smaller as well. At this point, Sunmax Biotechnology has a negative expected return of -0.0569%. Please make sure to validate Sunmax Biotechnology's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Sunmax Biotechnology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.06 |
Virtually no predictability
Sunmax Biotechnology Co has virtually no predictability. Overlapping area represents the amount of predictability between Sunmax Biotechnology time series from 27th of October 2024 to 11th of November 2024 and 11th of November 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 Sunmax Biotechnology price movement. The serial correlation of 0.06 indicates that barely 6.0% of current Sunmax Biotechnology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.06 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 2.61 |
Sunmax Biotechnology lagged returns against current returns
Autocorrelation, which is Sunmax 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 Sunmax Biotechnology's stock expected returns. We can calculate the autocorrelation of Sunmax Biotechnology returns to help us make a trade decision. For example, suppose you find that Sunmax 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 |
Sunmax 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 Sunmax Biotechnology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sunmax Biotechnology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sunmax Biotechnology stock over time.
Current vs Lagged Prices |
| Timeline |
Sunmax Biotechnology Lagged Returns
When evaluating Sunmax Biotechnology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sunmax Biotechnology stock have on its future price. Sunmax 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, Sunmax Biotechnology autocorrelation shows the relationship between Sunmax Biotechnology stock current value and its past values and can show if there is a momentum factor associated with investing in Sunmax Biotechnology Co.
Regressed Prices |
| Timeline |
Pair Trading with Sunmax 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 Sunmax 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 Sunmax Biotechnology will appreciate offsetting losses from the drop in the long position's value.Moving against Sunmax Stock
| 0.59 | 2881B | Fubon Financial Holding | PairCorr |
| 0.5 | 2882 | Cathay Financial Holding | PairCorr |
| 0.46 | 2882A | Cathay Financial Holding Earnings Call Tomorrow | PairCorr |
| 0.33 | 2330 | Taiwan Semiconductor | PairCorr |
The ability to find closely correlated positions to Sunmax 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 Sunmax 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 Sunmax 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 Sunmax Biotechnology Co to buy it.
The correlation of Sunmax 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 Sunmax Biotechnology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sunmax 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 Sunmax 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 Sunmax Stock Analysis
When running Sunmax Biotechnology's price analysis, check to measure Sunmax 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 Sunmax Biotechnology is operating at the current time. Most of Sunmax Biotechnology's value examination focuses on studying past and present price action to predict the probability of Sunmax 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 Sunmax Biotechnology's price. Additionally, you may evaluate how the addition of Sunmax Biotechnology to your portfolios can decrease your overall portfolio volatility.