Asia Metal (Taiwan) Market Value
| 6727 Stock | 88.00 3.00 3.30% |
| Symbol | Asia |
Asia Metal '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 Asia Metal'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 Asia Metal.
| 01/07/2024 |
| 12/02/2024 |
If you would invest 0.00 in Asia Metal on January 7, 2024 and sell it all today you would earn a total of 0.00 from holding Asia Metal Industries or generate 0.0% return on investment in Asia Metal over 330 days. Asia Metal is related to or competes with Highlight Tech, WiseChip Semiconductor, Novatek Microelectronics, Leader Electronics, Information Technology, Kinko Optical, and Giant Manufacturing. More
Asia Metal 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 Asia Metal'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 Asia Metal Industries upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.01 | |||
| Information Ratio | 0.0937 | |||
| Maximum Drawdown | 19.59 | |||
| Value At Risk | (3.50) | |||
| Potential Upside | 4.87 |
Asia Metal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Asia Metal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Asia Metal's standard deviation. In reality, there are many statistical measures that can use Asia Metal historical prices to predict the future Asia Metal's volatility.| Risk Adjusted Performance | 0.1151 | |||
| Jensen Alpha | 0.3365 | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | 0.091 | |||
| Treynor Ratio | 0.7921 |
Asia Metal Industries Backtested Returns
Asia Metal appears to be very steady, given 3 months investment horizon. Asia Metal Industries secures Sharpe Ratio (or Efficiency) of 0.13, which signifies that the company had a 0.13% return per unit of risk over the last 3 months. We have found thirty technical indicators for Asia Metal Industries, which you can use to evaluate the volatility of the firm. Please makes use of Asia Metal's Risk Adjusted Performance of 0.1151, mean deviation of 2.09, and Downside Deviation of 3.01 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Asia Metal holds a performance score of 9. The firm shows a Beta (market volatility) of 0.51, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Asia Metal's returns are expected to increase less than the market. However, during the bear market, the loss of holding Asia Metal is expected to be smaller as well. Please check Asia Metal's downside deviation, standard deviation, and the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Asia Metal's price patterns will revert.
Auto-correlation | 0.84 |
Very good predictability
Asia Metal Industries has very good predictability. Overlapping area represents the amount of predictability between Asia Metal time series from 7th of January 2024 to 20th of June 2024 and 20th of June 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 Asia Metal Industries price movement. The serial correlation of 0.84 indicates that around 84.0% of current Asia Metal price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.84 | |
| Spearman Rank Test | 0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 79.97 |
Asia Metal Industries lagged returns against current returns
Autocorrelation, which is Asia Metal 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 Asia Metal's stock expected returns. We can calculate the autocorrelation of Asia Metal returns to help us make a trade decision. For example, suppose you find that Asia Metal 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 |
Asia Metal 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 Asia Metal stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Asia Metal stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Asia Metal stock over time.
Current vs Lagged Prices |
| Timeline |
Asia Metal Lagged Returns
When evaluating Asia Metal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Asia Metal stock have on its future price. Asia Metal 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, Asia Metal autocorrelation shows the relationship between Asia Metal stock current value and its past values and can show if there is a momentum factor associated with investing in Asia Metal Industries.
Regressed Prices |
| Timeline |
Pair Trading with Asia Metal
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 Asia Metal 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 Asia Metal will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Asia Metal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Asia Metal 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 Asia Metal - 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 Asia Metal Industries to buy it.
The correlation of Asia Metal 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 Asia Metal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Asia Metal Industries 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 Asia Metal 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 Asia Stock Analysis
When running Asia Metal's price analysis, check to measure Asia Metal'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 Asia Metal is operating at the current time. Most of Asia Metal's value examination focuses on studying past and present price action to predict the probability of Asia Metal's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Asia Metal's price. Additionally, you may evaluate how the addition of Asia Metal to your portfolios can decrease your overall portfolio volatility.