Kenmec Mechanical (Taiwan) Market Value
| 6125 Stock | TWD 85.30 1.10 1.27% |
| Symbol | Kenmec |
Kenmec Mechanical '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 Kenmec Mechanical'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 Kenmec Mechanical.
| 09/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Kenmec Mechanical on September 28, 2024 and sell it all today you would earn a total of 0.00 from holding Kenmec Mechanical Engineering or generate 0.0% return on investment in Kenmec Mechanical over 60 days. Kenmec Mechanical is related to or competes with Golden Friends, Sunonwealth Electric, Rechi Precision, Fittech, C Sun, Symtek Automation, and Nova Technology. More
Kenmec Mechanical 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 Kenmec Mechanical'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 Kenmec Mechanical Engineering upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 9.25 | |||
| Value At Risk | (3.02) | |||
| Potential Upside | 3.77 |
Kenmec Mechanical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kenmec Mechanical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kenmec Mechanical's standard deviation. In reality, there are many statistical measures that can use Kenmec Mechanical historical prices to predict the future Kenmec Mechanical's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.27) | |||
| Total Risk Alpha | (0.55) | |||
| Treynor Ratio | (0.54) |
Kenmec Mechanical Backtested Returns
Kenmec Mechanical has Sharpe Ratio of -0.0838, which conveys that the firm had a -0.0838% return per unit of risk over the last 3 months. Kenmec Mechanical exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Kenmec Mechanical's Mean Deviation of 1.55, risk adjusted performance of (0.07), and Standard Deviation of 2.11 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.41, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Kenmec Mechanical's returns are expected to increase less than the market. However, during the bear market, the loss of holding Kenmec Mechanical is expected to be smaller as well. At this point, Kenmec Mechanical has a negative expected return of -0.18%. Please make sure to verify Kenmec Mechanical's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Kenmec Mechanical performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.83 |
Excellent reverse predictability
Kenmec Mechanical Engineering has excellent reverse predictability. Overlapping area represents the amount of predictability between Kenmec Mechanical time series from 28th of September 2024 to 28th of October 2024 and 28th of October 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 Kenmec Mechanical price movement. The serial correlation of -0.83 indicates that around 83.0% of current Kenmec Mechanical price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.83 | |
| Spearman Rank Test | -0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 9.22 |
Kenmec Mechanical lagged returns against current returns
Autocorrelation, which is Kenmec Mechanical 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 Kenmec Mechanical's stock expected returns. We can calculate the autocorrelation of Kenmec Mechanical returns to help us make a trade decision. For example, suppose you find that Kenmec Mechanical 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 |
Kenmec Mechanical 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 Kenmec Mechanical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kenmec Mechanical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kenmec Mechanical stock over time.
Current vs Lagged Prices |
| Timeline |
Kenmec Mechanical Lagged Returns
When evaluating Kenmec Mechanical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kenmec Mechanical stock have on its future price. Kenmec Mechanical 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, Kenmec Mechanical autocorrelation shows the relationship between Kenmec Mechanical stock current value and its past values and can show if there is a momentum factor associated with investing in Kenmec Mechanical Engineering.
Regressed Prices |
| Timeline |
Pair Trading with Kenmec Mechanical
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 Kenmec Mechanical 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 Kenmec Mechanical will appreciate offsetting losses from the drop in the long position's value.Moving against Kenmec Stock
| 0.66 | 3211 | Dynapack International | PairCorr |
| 0.6 | 6613 | Nova Technology | PairCorr |
| 0.56 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.53 | 1432 | Trk Corp | PairCorr |
| 0.48 | 6438 | Symtek Automation Asia | PairCorr |
The ability to find closely correlated positions to Kenmec Mechanical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kenmec Mechanical 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 Kenmec Mechanical - 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 Kenmec Mechanical Engineering to buy it.
The correlation of Kenmec Mechanical 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 Kenmec Mechanical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kenmec Mechanical 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 Kenmec Mechanical 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 Kenmec Stock Analysis
When running Kenmec Mechanical's price analysis, check to measure Kenmec Mechanical'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 Kenmec Mechanical is operating at the current time. Most of Kenmec Mechanical's value examination focuses on studying past and present price action to predict the probability of Kenmec Mechanical's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Kenmec Mechanical's price. Additionally, you may evaluate how the addition of Kenmec Mechanical to your portfolios can decrease your overall portfolio volatility.