Fittech (Taiwan) Market Value
| 6706 Stock | TWD 168.00 4.00 2.33% |
| Symbol | Fittech |
Fittech '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 Fittech'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 Fittech.
| 12/08/2022 |
| 11/27/2024 |
If you would invest 0.00 in Fittech on December 8, 2022 and sell it all today you would earn a total of 0.00 from holding Fittech Co or generate 0.0% return on investment in Fittech over 720 days. Fittech is related to or competes with Sitronix Technology, Taiwan Surface, Nan Ya, Visual Photonics, and Ennostar. ,Ltd provides automatic equipment and system integration services for the optoelectronic, semiconductor, and laser indus... More
Fittech 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 Fittech'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 Fittech Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.2 | |||
| Information Ratio | 0.1127 | |||
| Maximum Drawdown | 15.59 | |||
| Value At Risk | (4.99) | |||
| Potential Upside | 7.69 |
Fittech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fittech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fittech's standard deviation. In reality, there are many statistical measures that can use Fittech historical prices to predict the future Fittech's volatility.| Risk Adjusted Performance | 0.1192 | |||
| Jensen Alpha | 0.58 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | 0.1386 | |||
| Treynor Ratio | (3.73) |
Fittech Backtested Returns
Fittech appears to be very steady, given 3 months investment horizon. Fittech secures Sharpe Ratio (or Efficiency) of 0.13, which denotes the company had a 0.13% return per unit of risk over the last 3 months. By reviewing Fittech's technical indicators, you can evaluate if the expected return of 0.52% is justified by implied risk. Please utilize Fittech's Downside Deviation of 3.2, mean deviation of 3.23, and Coefficient Of Variation of 687.95 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Fittech holds a performance score of 10. The firm shows a Beta (market volatility) of -0.15, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Fittech are expected to decrease at a much lower rate. During the bear market, Fittech is likely to outperform the market. Please check Fittech's total risk alpha, treynor ratio, and the relationship between the jensen alpha and sortino ratio , to make a quick decision on whether Fittech's price patterns will revert.
Auto-correlation | -0.87 |
Excellent reverse predictability
Fittech Co has excellent reverse predictability. Overlapping area represents the amount of predictability between Fittech time series from 8th of December 2022 to 3rd of December 2023 and 3rd of December 2023 to 27th 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 Fittech price movement. The serial correlation of -0.87 indicates that approximately 87.0% of current Fittech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.87 | |
| Spearman Rank Test | -0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 1951.21 |
Fittech lagged returns against current returns
Autocorrelation, which is Fittech 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 Fittech's stock expected returns. We can calculate the autocorrelation of Fittech returns to help us make a trade decision. For example, suppose you find that Fittech 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 |
Fittech 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 Fittech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fittech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fittech stock over time.
Current vs Lagged Prices |
| Timeline |
Fittech Lagged Returns
When evaluating Fittech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fittech stock have on its future price. Fittech 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, Fittech autocorrelation shows the relationship between Fittech stock current value and its past values and can show if there is a momentum factor associated with investing in Fittech Co.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Fittech Stock Analysis
When running Fittech's price analysis, check to measure Fittech'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 Fittech is operating at the current time. Most of Fittech's value examination focuses on studying past and present price action to predict the probability of Fittech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fittech's price. Additionally, you may evaluate how the addition of Fittech to your portfolios can decrease your overall portfolio volatility.