Leatec Fine (Taiwan) Market Value
| 6127 Stock | TWD 28.30 1.20 4.43% |
| Symbol | Leatec |
Leatec Fine '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 Leatec Fine'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 Leatec Fine.
| 12/03/2022 |
| 11/22/2024 |
If you would invest 0.00 in Leatec Fine on December 3, 2022 and sell it all today you would earn a total of 0.00 from holding Leatec Fine Ceramics or generate 0.0% return on investment in Leatec Fine over 720 days. Leatec Fine is related to or competes with Cameo Communications, Wistron Information, China Metal, Evergreen International, Data International, Transcend Information, and Otsuka Information. LEATEC Fine Ceramics Co., Ltd. manufacturers and sells chip alumina fine ceramic substrates in Taiwan More
Leatec Fine 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 Leatec Fine'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 Leatec Fine Ceramics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 13.91 | |||
| Value At Risk | (3.70) | |||
| Potential Upside | 4.53 |
Leatec Fine Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Leatec Fine's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Leatec Fine's standard deviation. In reality, there are many statistical measures that can use Leatec Fine historical prices to predict the future Leatec Fine's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.39) | |||
| Treynor Ratio | (0.44) |
Leatec Fine Ceramics Backtested Returns
At this stage we consider Leatec Stock to be very steady. Leatec Fine Ceramics has Sharpe Ratio of 0.0012, which conveys that the firm had a 0.0012% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Leatec Fine, which you can use to evaluate the volatility of the firm. Please verify Leatec Fine's insignificant Risk Adjusted Performance, standard deviation of 2.64, and Mean Deviation of 1.79 to check out if the risk estimate we provide is consistent with the expected return of 0.0033%. The company secures a Beta (Market Risk) of 0.0938, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Leatec Fine's returns are expected to increase less than the market. However, during the bear market, the loss of holding Leatec Fine is expected to be smaller as well. Leatec Fine Ceramics right now secures a risk of 2.69%. Please verify Leatec Fine Ceramics standard deviation, jensen alpha, and the relationship between the coefficient of variation and information ratio , to decide if Leatec Fine Ceramics will be following its current price movements.
Auto-correlation | -0.2 |
Insignificant reverse predictability
Leatec Fine Ceramics has insignificant reverse predictability. Overlapping area represents the amount of predictability between Leatec Fine time series from 3rd of December 2022 to 28th of November 2023 and 28th of November 2023 to 22nd 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 Leatec Fine Ceramics price movement. The serial correlation of -0.2 indicates that over 20.0% of current Leatec Fine price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.2 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 4.96 |
Leatec Fine Ceramics lagged returns against current returns
Autocorrelation, which is Leatec Fine 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 Leatec Fine's stock expected returns. We can calculate the autocorrelation of Leatec Fine returns to help us make a trade decision. For example, suppose you find that Leatec Fine 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 |
Leatec Fine 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 Leatec Fine stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Leatec Fine stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Leatec Fine stock over time.
Current vs Lagged Prices |
| Timeline |
Leatec Fine Lagged Returns
When evaluating Leatec Fine's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Leatec Fine stock have on its future price. Leatec Fine 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, Leatec Fine autocorrelation shows the relationship between Leatec Fine stock current value and its past values and can show if there is a momentum factor associated with investing in Leatec Fine Ceramics.
Regressed Prices |
| Timeline |
Pair Trading with Leatec Fine
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 Leatec Fine 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 Leatec Fine will appreciate offsetting losses from the drop in the long position's value.Moving together with Leatec Stock
Moving against Leatec Stock
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| 0.36 | 6488 | GlobalWafers | PairCorr |
| 0.32 | 2303 | United Microelectronics | PairCorr |
The ability to find closely correlated positions to Leatec Fine could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Leatec Fine 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 Leatec Fine - 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 Leatec Fine Ceramics to buy it.
The correlation of Leatec Fine 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 Leatec Fine moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Leatec Fine Ceramics 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 Leatec Fine 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 Leatec Stock Analysis
When running Leatec Fine's price analysis, check to measure Leatec Fine'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 Leatec Fine is operating at the current time. Most of Leatec Fine's value examination focuses on studying past and present price action to predict the probability of Leatec Fine's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Leatec Fine's price. Additionally, you may evaluate how the addition of Leatec Fine to your portfolios can decrease your overall portfolio volatility.