New Era (Taiwan) Market Value
| 4909 Stock | TWD 114.50 3.50 3.15% |
| Symbol | New |
New Era '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 New Era'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 New Era.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in New Era on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding New Era Electronics or generate 0.0% return on investment in New Era over 720 days. New Era is related to or competes with Farglory FTZ, Syntek Semiconductor, Taiwan Semiconductor, WiseChip Semiconductor, and Niko Semiconductor. New Era Electronics Co., Ltd engages in the design, manufacture, and sale of printed circuit boards in Taiwan and intern... More
New Era 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 New Era'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 New Era Electronics upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.51 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 19.88 | |||
| Value At Risk | (8.58) | |||
| Potential Upside | 8.2 |
New Era Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New Era's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New Era's standard deviation. In reality, there are many statistical measures that can use New Era historical prices to predict the future New Era's volatility.| Risk Adjusted Performance | 0.0096 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.74) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | (0.03) |
New Era Electronics Backtested Returns
New Era Electronics has Sharpe Ratio of -0.0365, which conveys that the firm had a -0.0365% return per unit of risk over the last 3 months. New Era exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify New Era's Mean Deviation of 3.41, downside deviation of 4.51, and Risk Adjusted Performance of 0.0096 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.0881, which conveys not very significant fluctuations relative to the market. As returns on the market increase, New Era's returns are expected to increase less than the market. However, during the bear market, the loss of holding New Era is expected to be smaller as well. At this point, New Era Electronics has a negative expected return of -0.16%. Please make sure to verify New Era's sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to decide if New Era Electronics performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.75 |
Good predictability
New Era Electronics has good predictability. Overlapping area represents the amount of predictability between New Era time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 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 New Era Electronics price movement. The serial correlation of 0.75 indicates that around 75.0% of current New Era price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.75 | |
| Spearman Rank Test | 0.84 | |
| Residual Average | 0.0 | |
| Price Variance | 1498.0 |
New Era Electronics lagged returns against current returns
Autocorrelation, which is New Era 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 New Era's stock expected returns. We can calculate the autocorrelation of New Era returns to help us make a trade decision. For example, suppose you find that New Era 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 |
New Era 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 New Era stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New Era stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New Era stock over time.
Current vs Lagged Prices |
| Timeline |
New Era Lagged Returns
When evaluating New Era's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New Era stock have on its future price. New Era 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, New Era autocorrelation shows the relationship between New Era stock current value and its past values and can show if there is a momentum factor associated with investing in New Era Electronics.
Regressed Prices |
| Timeline |
Pair Trading with New Era
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 New Era 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 New Era will appreciate offsetting losses from the drop in the long position's value.Moving together with New Stock
Moving against New Stock
| 0.51 | 3037 | Unimicron Technology Corp | PairCorr |
| 0.5 | 2328 | Pan International | PairCorr |
| 0.4 | 2891B | CTBC Financial Holding | PairCorr |
| 0.36 | 6213 | ITEQ Corp | PairCorr |
The ability to find closely correlated positions to New Era could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace New Era 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 New Era - 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 New Era Electronics to buy it.
The correlation of New Era 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 New Era moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if New Era Electronics 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 New Era 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 New Stock Analysis
When running New Era's price analysis, check to measure New Era'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 New Era is operating at the current time. Most of New Era's value examination focuses on studying past and present price action to predict the probability of New Era's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move New Era's price. Additionally, you may evaluate how the addition of New Era to your portfolios can decrease your overall portfolio volatility.