Shin Ruenn (Taiwan) Market Value
| 6186 Stock | TWD 64.00 2.40 3.61% |
| Symbol | Shin |
Shin Ruenn '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 Shin Ruenn'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 Shin Ruenn.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in Shin Ruenn on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding Shin Ruenn Development or generate 0.0% return on investment in Shin Ruenn over 720 days. Shin Ruenn is related to or competes with Highwealth Construction, Kunyue Development, Leatec Fine, Information Technology, Kinko Optical, E Lead, and Zinwell. Shin Ruenn development Co., LTD. engages in the development and rental of housing and buildings More
Shin Ruenn 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 Shin Ruenn'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 Shin Ruenn Development upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 17.06 | |||
| Value At Risk | (8.26) | |||
| Potential Upside | 4.96 |
Shin Ruenn Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Shin Ruenn's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Shin Ruenn's standard deviation. In reality, there are many statistical measures that can use Shin Ruenn historical prices to predict the future Shin Ruenn's volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (0.86) | |||
| Total Risk Alpha | (1.22) | |||
| Treynor Ratio | (0.43) |
Shin Ruenn Development Backtested Returns
Shin Ruenn Development owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.2, which indicates the firm had a -0.2% return per unit of risk over the last 3 months. Shin Ruenn Development exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Shin Ruenn's Risk Adjusted Performance of (0.14), variance of 12.24, and Coefficient Of Variation of (531.24) to confirm the risk estimate we provide. The entity has a beta of 1.55, which indicates a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Shin Ruenn will likely underperform. At this point, Shin Ruenn Development has a negative expected return of -0.66%. Please make sure to validate Shin Ruenn's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Shin Ruenn Development performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.40 |
Average predictability
Shin Ruenn Development has average predictability. Overlapping area represents the amount of predictability between Shin Ruenn time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 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 Shin Ruenn Development price movement. The serial correlation of 0.4 indicates that just about 40.0% of current Shin Ruenn price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.4 | |
| Spearman Rank Test | 0.51 | |
| Residual Average | 0.0 | |
| Price Variance | 385.84 |
Shin Ruenn Development lagged returns against current returns
Autocorrelation, which is Shin Ruenn 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 Shin Ruenn's stock expected returns. We can calculate the autocorrelation of Shin Ruenn returns to help us make a trade decision. For example, suppose you find that Shin Ruenn 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 |
Shin Ruenn 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 Shin Ruenn stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Shin Ruenn stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Shin Ruenn stock over time.
Current vs Lagged Prices |
| Timeline |
Shin Ruenn Lagged Returns
When evaluating Shin Ruenn's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Shin Ruenn stock have on its future price. Shin Ruenn 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, Shin Ruenn autocorrelation shows the relationship between Shin Ruenn stock current value and its past values and can show if there is a momentum factor associated with investing in Shin Ruenn Development.
Regressed Prices |
| Timeline |
Pair Trading with Shin Ruenn
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 Shin Ruenn 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 Shin Ruenn will appreciate offsetting losses from the drop in the long position's value.Moving together with Shin Stock
| 0.94 | 2542 | Highwealth Construction Split | PairCorr |
| 0.88 | 2539 | Sakura Development | PairCorr |
| 0.9 | 5206 | Kunyue Development | PairCorr |
| 0.87 | 6171 | Tacheng Real Estate | PairCorr |
Moving against Shin Stock
| 0.82 | 1432 | Trk Corp | PairCorr |
| 0.8 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.74 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.74 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.73 | 3545 | FocalTech Systems | PairCorr |
The ability to find closely correlated positions to Shin Ruenn could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shin Ruenn 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 Shin Ruenn - 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 Shin Ruenn Development to buy it.
The correlation of Shin Ruenn 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 Shin Ruenn moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shin Ruenn Development 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 Shin Ruenn 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 Shin Stock Analysis
When running Shin Ruenn's price analysis, check to measure Shin Ruenn'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 Shin Ruenn is operating at the current time. Most of Shin Ruenn's value examination focuses on studying past and present price action to predict the probability of Shin Ruenn's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Shin Ruenn's price. Additionally, you may evaluate how the addition of Shin Ruenn to your portfolios can decrease your overall portfolio volatility.