Sirtec International (Taiwan) Market Value
| 5356 Stock | TWD 33.30 0.65 1.99% |
| Symbol | Sirtec |
Sirtec International '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 Sirtec International'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 Sirtec International.
| 09/03/2024 |
| 12/02/2024 |
If you would invest 0.00 in Sirtec International on September 3, 2024 and sell it all today you would earn a total of 0.00 from holding Sirtec International Co or generate 0.0% return on investment in Sirtec International over 90 days. Sirtec International is related to or competes with Hon Hai, Delta Electronics, LARGAN Precision, and AU Optronics. ,Ltd. designs, manufactures, and sells electronic product assemblies, and plastic injection and molding products in Taiw... More
Sirtec International 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 Sirtec International'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 Sirtec International Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 9.24 | |||
| Value At Risk | (2.07) | |||
| Potential Upside | 1.37 |
Sirtec International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sirtec International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sirtec International's standard deviation. In reality, there are many statistical measures that can use Sirtec International historical prices to predict the future Sirtec International's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.33) | |||
| Treynor Ratio | (0.49) |
Sirtec International Backtested Returns
Sirtec International owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.078, which indicates the firm had a -0.078% return per unit of risk over the last 3 months. Sirtec International Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sirtec International's Coefficient Of Variation of (1,286), variance of 1.69, and Risk Adjusted Performance of (0.06) to confirm the risk estimate we provide. The entity has a beta of 0.23, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Sirtec International's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sirtec International is expected to be smaller as well. At this point, Sirtec International has a negative expected return of -0.1%. Please make sure to validate Sirtec International's treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Sirtec International performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.34 |
Poor reverse predictability
Sirtec International Co has poor reverse predictability. Overlapping area represents the amount of predictability between Sirtec International time series from 3rd of September 2024 to 18th of October 2024 and 18th of October 2024 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 Sirtec International price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current Sirtec International price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 2.38 |
Sirtec International lagged returns against current returns
Autocorrelation, which is Sirtec International 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 Sirtec International's stock expected returns. We can calculate the autocorrelation of Sirtec International returns to help us make a trade decision. For example, suppose you find that Sirtec International 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 |
Sirtec International 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 Sirtec International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sirtec International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sirtec International stock over time.
Current vs Lagged Prices |
| Timeline |
Sirtec International Lagged Returns
When evaluating Sirtec International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sirtec International stock have on its future price. Sirtec International 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, Sirtec International autocorrelation shows the relationship between Sirtec International stock current value and its past values and can show if there is a momentum factor associated with investing in Sirtec International Co.
Regressed Prices |
| Timeline |
Pair Trading with Sirtec International
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 Sirtec International 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 Sirtec International will appreciate offsetting losses from the drop in the long position's value.Moving together with Sirtec Stock
Moving against Sirtec Stock
The ability to find closely correlated positions to Sirtec International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sirtec International 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 Sirtec International - 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 Sirtec International Co to buy it.
The correlation of Sirtec International 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 Sirtec International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sirtec International 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 Sirtec International 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 Sirtec Stock Analysis
When running Sirtec International's price analysis, check to measure Sirtec International'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 Sirtec International is operating at the current time. Most of Sirtec International's value examination focuses on studying past and present price action to predict the probability of Sirtec International's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Sirtec International's price. Additionally, you may evaluate how the addition of Sirtec International to your portfolios can decrease your overall portfolio volatility.