Amazing Microelectronic (Taiwan) Market Value
| 6411 Stock | TWD 93.10 0.30 0.32% |
| Symbol | Amazing |
Amazing Microelectronic '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 Amazing Microelectronic'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 Amazing Microelectronic.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Amazing Microelectronic on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Amazing Microelectronic or generate 0.0% return on investment in Amazing Microelectronic over 180 days. Amazing Microelectronic is related to or competes with United Microelectronics, and Winbond Electronics. More
Amazing Microelectronic 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 Amazing Microelectronic'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 Amazing Microelectronic upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.5 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 9.98 | |||
| Value At Risk | (2.65) | |||
| Potential Upside | 3.48 |
Amazing Microelectronic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Amazing Microelectronic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Amazing Microelectronic's standard deviation. In reality, there are many statistical measures that can use Amazing Microelectronic historical prices to predict the future Amazing Microelectronic's volatility.| Risk Adjusted Performance | 0.0222 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.28) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | 0.0967 |
Amazing Microelectronic Backtested Returns
Amazing Microelectronic secures Sharpe Ratio (or Efficiency) of -0.0013, which signifies that the company had a -0.0013% return per unit of standard deviation over the last 3 months. Amazing Microelectronic exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Amazing Microelectronic's risk adjusted performance of 0.0222, and Mean Deviation of 1.29 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.3, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Amazing Microelectronic's returns are expected to increase less than the market. However, during the bear market, the loss of holding Amazing Microelectronic is expected to be smaller as well. At this point, Amazing Microelectronic has a negative expected return of -0.0023%. Please make sure to confirm Amazing Microelectronic's mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to decide if Amazing Microelectronic performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.22 |
Weak predictability
Amazing Microelectronic has weak predictability. Overlapping area represents the amount of predictability between Amazing Microelectronic time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th 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 Amazing Microelectronic price movement. The serial correlation of 0.22 indicates that over 22.0% of current Amazing Microelectronic price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.22 | |
| Spearman Rank Test | 0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 14.67 |
Amazing Microelectronic lagged returns against current returns
Autocorrelation, which is Amazing Microelectronic 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 Amazing Microelectronic's stock expected returns. We can calculate the autocorrelation of Amazing Microelectronic returns to help us make a trade decision. For example, suppose you find that Amazing Microelectronic 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 |
Amazing Microelectronic 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 Amazing Microelectronic stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Amazing Microelectronic stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Amazing Microelectronic stock over time.
Current vs Lagged Prices |
| Timeline |
Amazing Microelectronic Lagged Returns
When evaluating Amazing Microelectronic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Amazing Microelectronic stock have on its future price. Amazing Microelectronic 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, Amazing Microelectronic autocorrelation shows the relationship between Amazing Microelectronic stock current value and its past values and can show if there is a momentum factor associated with investing in Amazing Microelectronic.
Regressed Prices |
| Timeline |
Pair Trading with Amazing Microelectronic
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 Amazing Microelectronic 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 Amazing Microelectronic will appreciate offsetting losses from the drop in the long position's value.Moving against Amazing Stock
The ability to find closely correlated positions to Amazing Microelectronic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Amazing Microelectronic 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 Amazing Microelectronic - 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 Amazing Microelectronic to buy it.
The correlation of Amazing Microelectronic 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 Amazing Microelectronic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Amazing Microelectronic 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 Amazing Microelectronic 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 Amazing Stock Analysis
When running Amazing Microelectronic's price analysis, check to measure Amazing Microelectronic'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 Amazing Microelectronic is operating at the current time. Most of Amazing Microelectronic's value examination focuses on studying past and present price action to predict the probability of Amazing Microelectronic's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Amazing Microelectronic's price. Additionally, you may evaluate how the addition of Amazing Microelectronic to your portfolios can decrease your overall portfolio volatility.