Longwell (Taiwan) Market Value
| 6290 Stock | TWD 72.10 1.10 1.55% |
| Symbol | Longwell |
Longwell '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 Longwell'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 Longwell.
| 05/06/2024 |
| 12/02/2024 |
If you would invest 0.00 in Longwell on May 6, 2024 and sell it all today you would earn a total of 0.00 from holding Longwell Co or generate 0.0% return on investment in Longwell over 210 days. Longwell is related to or competes with Acbel Polytech, Primax Electronics, Flexium Interconnect, Career Technology, and Shin Zu. More
Longwell 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 Longwell'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 Longwell Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 10.64 | |||
| Value At Risk | (2.48) | |||
| Potential Upside | 2.28 |
Longwell Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Longwell's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Longwell's standard deviation. In reality, there are many statistical measures that can use Longwell historical prices to predict the future Longwell's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.27) | |||
| Total Risk Alpha | (0.52) | |||
| Treynor Ratio | (0.87) |
Longwell Backtested Returns
Longwell has Sharpe Ratio of -0.18, which conveys that the firm had a -0.18% return per unit of risk over the last 3 months. Longwell exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Longwell's Standard Deviation of 1.72, risk adjusted performance of (0.09), and Mean Deviation of 1.28 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.27, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Longwell's returns are expected to increase less than the market. However, during the bear market, the loss of holding Longwell is expected to be smaller as well. At this point, Longwell has a negative expected return of -0.3%. Please make sure to verify Longwell's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Longwell performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.08 |
Very weak reverse predictability
Longwell Co has very weak reverse predictability. Overlapping area represents the amount of predictability between Longwell time series from 6th of May 2024 to 19th of August 2024 and 19th of August 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 Longwell price movement. The serial correlation of -0.08 indicates that barely 8.0% of current Longwell price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.08 | |
| Spearman Rank Test | -0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 25.46 |
Longwell lagged returns against current returns
Autocorrelation, which is Longwell 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 Longwell's stock expected returns. We can calculate the autocorrelation of Longwell returns to help us make a trade decision. For example, suppose you find that Longwell 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 |
Longwell 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 Longwell stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Longwell stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Longwell stock over time.
Current vs Lagged Prices |
| Timeline |
Longwell Lagged Returns
When evaluating Longwell's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Longwell stock have on its future price. Longwell 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, Longwell autocorrelation shows the relationship between Longwell stock current value and its past values and can show if there is a momentum factor associated with investing in Longwell Co.
Regressed Prices |
| Timeline |
Pair Trading with Longwell
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 Longwell 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 Longwell will appreciate offsetting losses from the drop in the long position's value.Moving together with Longwell Stock
Moving against Longwell Stock
| 0.95 | 9904 | Pou Chen Corp | PairCorr |
| 0.9 | 2881A | Fubon Financial Holding | PairCorr |
| 0.76 | 2882B | Cathay Financial Holding | PairCorr |
| 0.62 | 2317 | Hon Hai Precision | PairCorr |
| 0.6 | 2881B | Fubon Financial Holding | PairCorr |
The ability to find closely correlated positions to Longwell could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Longwell 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 Longwell - 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 Longwell Co to buy it.
The correlation of Longwell 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 Longwell moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Longwell 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 Longwell 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 Longwell Stock Analysis
When running Longwell's price analysis, check to measure Longwell'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 Longwell is operating at the current time. Most of Longwell's value examination focuses on studying past and present price action to predict the probability of Longwell's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Longwell's price. Additionally, you may evaluate how the addition of Longwell to your portfolios can decrease your overall portfolio volatility.