Song Ho (Taiwan) Market Value
| 5016 Stock | TWD 27.70 0.05 0.18% |
| Symbol | Song |
Song Ho '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 Song Ho'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 Song Ho.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Song Ho on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Song Ho Industrial or generate 0.0% return on investment in Song Ho over 30 days. Song Ho is related to or competes with Shinkong Insurance, Genovate Biotechnology, Johnson Health, CHC Healthcare, Onyx Healthcare, Wei Chuan, and Standard Foods. Song Ho Industrial Co., Ltd. manufactures and sells various steel products in Taiwan More
Song Ho 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 Song Ho'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 Song Ho Industrial upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5971 | |||
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 2.73 | |||
| Value At Risk | (0.89) | |||
| Potential Upside | 0.9191 |
Song Ho Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Song Ho's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Song Ho's standard deviation. In reality, there are many statistical measures that can use Song Ho historical prices to predict the future Song Ho's volatility.| Risk Adjusted Performance | 0.0021 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | (0.20) | |||
| Treynor Ratio | (0.08) |
Song Ho Industrial Backtested Returns
Song Ho Industrial owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0024, which indicates the firm had a -0.0024% return per unit of risk over the last 3 months. Song Ho Industrial exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Song Ho's Risk Adjusted Performance of 0.0021, coefficient of variation of 13058.9, and Semi Deviation of 0.4559 to confirm the risk estimate we provide. The entity has a beta of 0.0703, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Song Ho's returns are expected to increase less than the market. However, during the bear market, the loss of holding Song Ho is expected to be smaller as well. At this point, Song Ho Industrial has a negative expected return of -0.0014%. Please make sure to validate Song Ho's information ratio, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Song Ho Industrial performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.08 |
Virtually no predictability
Song Ho Industrial has virtually no predictability. Overlapping area represents the amount of predictability between Song Ho time series from 29th of October 2024 to 13th of November 2024 and 13th of November 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 Song Ho Industrial price movement. The serial correlation of 0.08 indicates that barely 8.0% of current Song Ho price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.08 | |
| Spearman Rank Test | 0.48 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Song Ho Industrial lagged returns against current returns
Autocorrelation, which is Song Ho 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 Song Ho's stock expected returns. We can calculate the autocorrelation of Song Ho returns to help us make a trade decision. For example, suppose you find that Song Ho 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 |
Song Ho 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 Song Ho stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Song Ho stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Song Ho stock over time.
Current vs Lagged Prices |
| Timeline |
Song Ho Lagged Returns
When evaluating Song Ho's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Song Ho stock have on its future price. Song Ho 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, Song Ho autocorrelation shows the relationship between Song Ho stock current value and its past values and can show if there is a momentum factor associated with investing in Song Ho Industrial.
Regressed Prices |
| Timeline |
Pair Trading with Song Ho
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 Song Ho 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 Song Ho will appreciate offsetting losses from the drop in the long position's value.Moving against Song Stock
| 0.5 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.49 | 2882A | Cathay Financial Holding | PairCorr |
| 0.46 | 2317 | Hon Hai Precision | PairCorr |
| 0.45 | 2882B | Cathay Financial Holding | PairCorr |
| 0.41 | 0053 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Song Ho could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Song Ho 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 Song Ho - 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 Song Ho Industrial to buy it.
The correlation of Song Ho 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 Song Ho moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Song Ho Industrial 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 Song Ho 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 Song Stock Analysis
When running Song Ho's price analysis, check to measure Song Ho'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 Song Ho is operating at the current time. Most of Song Ho's value examination focuses on studying past and present price action to predict the probability of Song Ho's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Song Ho's price. Additionally, you may evaluate how the addition of Song Ho to your portfolios can decrease your overall portfolio volatility.