Handa Pharmaceuticals (Taiwan) Market Value
| 6620 Stock | TWD 54.60 2.10 3.70% |
| Symbol | Handa |
Handa Pharmaceuticals '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 Handa Pharmaceuticals' 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 Handa Pharmaceuticals.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in Handa Pharmaceuticals on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding Handa Pharmaceuticals or generate 0.0% return on investment in Handa Pharmaceuticals over 720 days. Handa Pharmaceuticals is related to or competes with Johnson Health, Ma Kuang, Chung Hung, SS Healthcare, Tung Ho, and Century Iron. Handa Pharmaceuticals, Inc., a specialty pharmaceutical company, focuses on the development of drugs for various disease... More
Handa Pharmaceuticals 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 Handa Pharmaceuticals' 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 Handa Pharmaceuticals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.32) | |||
| Maximum Drawdown | 14.23 | |||
| Value At Risk | (3.17) | |||
| Potential Upside | 3.67 |
Handa Pharmaceuticals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Handa Pharmaceuticals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Handa Pharmaceuticals' standard deviation. In reality, there are many statistical measures that can use Handa Pharmaceuticals historical prices to predict the future Handa Pharmaceuticals' volatility.| Risk Adjusted Performance | (0.19) | |||
| Jensen Alpha | (0.69) | |||
| Total Risk Alpha | (0.97) | |||
| Treynor Ratio | (0.87) |
Handa Pharmaceuticals Backtested Returns
Handa Pharmaceuticals holds Efficiency (Sharpe) Ratio of -0.28, which attests that the entity had a -0.28% return per unit of risk over the last 3 months. Handa Pharmaceuticals exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Handa Pharmaceuticals' Risk Adjusted Performance of (0.19), market risk adjusted performance of (0.86), and Standard Deviation of 2.28 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.7, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Handa Pharmaceuticals' returns are expected to increase less than the market. However, during the bear market, the loss of holding Handa Pharmaceuticals is expected to be smaller as well. At this point, Handa Pharmaceuticals has a negative expected return of -0.67%. Please make sure to check out Handa Pharmaceuticals' standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Handa Pharmaceuticals performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.1 |
Very weak reverse predictability
Handa Pharmaceuticals has very weak reverse predictability. Overlapping area represents the amount of predictability between Handa Pharmaceuticals 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 Handa Pharmaceuticals price movement. The serial correlation of -0.1 indicates that less than 10.0% of current Handa Pharmaceuticals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.1 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 1867.78 |
Handa Pharmaceuticals lagged returns against current returns
Autocorrelation, which is Handa Pharmaceuticals 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 Handa Pharmaceuticals' stock expected returns. We can calculate the autocorrelation of Handa Pharmaceuticals returns to help us make a trade decision. For example, suppose you find that Handa Pharmaceuticals 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 |
Handa Pharmaceuticals 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 Handa Pharmaceuticals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Handa Pharmaceuticals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Handa Pharmaceuticals stock over time.
Current vs Lagged Prices |
| Timeline |
Handa Pharmaceuticals Lagged Returns
When evaluating Handa Pharmaceuticals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Handa Pharmaceuticals stock have on its future price. Handa Pharmaceuticals 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, Handa Pharmaceuticals autocorrelation shows the relationship between Handa Pharmaceuticals stock current value and its past values and can show if there is a momentum factor associated with investing in Handa Pharmaceuticals.
Regressed Prices |
| Timeline |
Pair Trading with Handa Pharmaceuticals
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 Handa Pharmaceuticals 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 Handa Pharmaceuticals will appreciate offsetting losses from the drop in the long position's value.Moving together with Handa Stock
Moving against Handa Stock
| 0.91 | 2882B | Cathay Financial Holding | PairCorr |
| 0.9 | 2881A | Fubon Financial Holding | PairCorr |
| 0.89 | 2881B | Fubon Financial Holding | PairCorr |
| 0.86 | 2317 | Hon Hai Precision | PairCorr |
| 0.83 | 9904 | Pou Chen Corp | PairCorr |
The ability to find closely correlated positions to Handa Pharmaceuticals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Handa Pharmaceuticals 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 Handa Pharmaceuticals - 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 Handa Pharmaceuticals to buy it.
The correlation of Handa Pharmaceuticals 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 Handa Pharmaceuticals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Handa Pharmaceuticals 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 Handa Pharmaceuticals 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 Handa Stock Analysis
When running Handa Pharmaceuticals' price analysis, check to measure Handa Pharmaceuticals' 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 Handa Pharmaceuticals is operating at the current time. Most of Handa Pharmaceuticals' value examination focuses on studying past and present price action to predict the probability of Handa Pharmaceuticals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Handa Pharmaceuticals' price. Additionally, you may evaluate how the addition of Handa Pharmaceuticals to your portfolios can decrease your overall portfolio volatility.