Prosperity Dielectrics (Taiwan) Market Value
| 6173 Stock | TWD 43.25 0.65 1.53% |
| Symbol | Prosperity |
Prosperity Dielectrics '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 Prosperity Dielectrics' 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 Prosperity Dielectrics.
| 06/01/2024 |
| 11/28/2024 |
If you would invest 0.00 in Prosperity Dielectrics on June 1, 2024 and sell it all today you would earn a total of 0.00 from holding Prosperity Dielectrics Co or generate 0.0% return on investment in Prosperity Dielectrics over 180 days. Prosperity Dielectrics is related to or competes with Taiwan Semiconductor, MediaTek, United Microelectronics, Novatek Microelectronics, Realtek Semiconductor, and Global Unichip. Prosperity Dielectrics Co., Ltd. manufactures and exports ceramic dielectric powders and multilayer ceramic chip capacit... More
Prosperity Dielectrics 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 Prosperity Dielectrics' 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 Prosperity Dielectrics Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 10.45 | |||
| Value At Risk | (2.46) | |||
| Potential Upside | 1.58 |
Prosperity Dielectrics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Prosperity Dielectrics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Prosperity Dielectrics' standard deviation. In reality, there are many statistical measures that can use Prosperity Dielectrics historical prices to predict the future Prosperity Dielectrics' volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.24) | |||
| Total Risk Alpha | (0.43) | |||
| Treynor Ratio | (0.54) |
Prosperity Dielectrics Backtested Returns
Prosperity Dielectrics maintains Sharpe Ratio (i.e., Efficiency) of -0.12, which implies the firm had a -0.12% return per unit of risk over the last 3 months. Prosperity Dielectrics exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Prosperity Dielectrics' Coefficient Of Variation of (844.15), variance of 2.46, and Risk Adjusted Performance of (0.09) to confirm the risk estimate we provide. The company holds a Beta of 0.36, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Prosperity Dielectrics' returns are expected to increase less than the market. However, during the bear market, the loss of holding Prosperity Dielectrics is expected to be smaller as well. At this point, Prosperity Dielectrics has a negative expected return of -0.2%. Please make sure to check Prosperity Dielectrics' jensen alpha, treynor ratio, and the relationship between the information ratio and total risk alpha , to decide if Prosperity Dielectrics performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.58 |
Modest predictability
Prosperity Dielectrics Co has modest predictability. Overlapping area represents the amount of predictability between Prosperity Dielectrics time series from 1st of June 2024 to 30th of August 2024 and 30th of August 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 Prosperity Dielectrics price movement. The serial correlation of 0.58 indicates that roughly 58.0% of current Prosperity Dielectrics price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.58 | |
| Spearman Rank Test | 0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 4.23 |
Prosperity Dielectrics lagged returns against current returns
Autocorrelation, which is Prosperity Dielectrics 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 Prosperity Dielectrics' stock expected returns. We can calculate the autocorrelation of Prosperity Dielectrics returns to help us make a trade decision. For example, suppose you find that Prosperity Dielectrics 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 |
Prosperity Dielectrics 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 Prosperity Dielectrics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Prosperity Dielectrics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Prosperity Dielectrics stock over time.
Current vs Lagged Prices |
| Timeline |
Prosperity Dielectrics Lagged Returns
When evaluating Prosperity Dielectrics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Prosperity Dielectrics stock have on its future price. Prosperity Dielectrics 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, Prosperity Dielectrics autocorrelation shows the relationship between Prosperity Dielectrics stock current value and its past values and can show if there is a momentum factor associated with investing in Prosperity Dielectrics Co.
Regressed Prices |
| Timeline |
Pair Trading with Prosperity Dielectrics
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 Prosperity Dielectrics 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 Prosperity Dielectrics will appreciate offsetting losses from the drop in the long position's value.Moving together with Prosperity Stock
Moving against Prosperity Stock
| 0.79 | 6510 | Chunghwa Precision Test | PairCorr |
| 0.69 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.51 | 6669 | Wiwynn Corp | PairCorr |
| 0.46 | 2357 | Asustek Computer | PairCorr |
| 0.31 | 3443 | Global Unichip Corp | PairCorr |
The ability to find closely correlated positions to Prosperity Dielectrics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Prosperity Dielectrics 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 Prosperity Dielectrics - 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 Prosperity Dielectrics Co to buy it.
The correlation of Prosperity Dielectrics 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 Prosperity Dielectrics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Prosperity Dielectrics 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 Prosperity Dielectrics 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 Prosperity Stock Analysis
When running Prosperity Dielectrics' price analysis, check to measure Prosperity Dielectrics' 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 Prosperity Dielectrics is operating at the current time. Most of Prosperity Dielectrics' value examination focuses on studying past and present price action to predict the probability of Prosperity Dielectrics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Prosperity Dielectrics' price. Additionally, you may evaluate how the addition of Prosperity Dielectrics to your portfolios can decrease your overall portfolio volatility.