Harmony Electronics (Taiwan) Market Value
| 8182 Stock | TWD 33.55 0.10 0.30% |
| Symbol | Harmony |
Harmony Electronics '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 Harmony Electronics' 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 Harmony Electronics.
| 01/09/2023 |
| 11/29/2024 |
If you would invest 0.00 in Harmony Electronics on January 9, 2023 and sell it all today you would earn a total of 0.00 from holding Harmony Electronics or generate 0.0% return on investment in Harmony Electronics over 690 days. Harmony Electronics is related to or competes with Chipbond Technology, Allied Circuit, Weltrend Semiconductor, Leatec Fine, Information Technology, Kinko Optical, and E Lead. Ltd manufactures and sells quartz frequency components in Taiwan and internationally More
Harmony Electronics 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 Harmony Electronics' 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 Harmony Electronics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 8.74 | |||
| Value At Risk | (2.31) | |||
| Potential Upside | 1.88 |
Harmony Electronics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Harmony Electronics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Harmony Electronics' standard deviation. In reality, there are many statistical measures that can use Harmony Electronics historical prices to predict the future Harmony Electronics' volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.33) | |||
| Treynor Ratio | (0.61) |
Harmony Electronics Backtested Returns
Harmony Electronics holds Efficiency (Sharpe) Ratio of -0.12, which attests that the entity had a -0.12% return per unit of risk over the last 3 months. Harmony Electronics exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Harmony Electronics' Risk Adjusted Performance of (0.05), standard deviation of 1.46, and Market Risk Adjusted Performance of (0.60) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.18, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Harmony Electronics' returns are expected to increase less than the market. However, during the bear market, the loss of holding Harmony Electronics is expected to be smaller as well. At this point, Harmony Electronics has a negative expected return of -0.15%. Please make sure to check out Harmony Electronics' treynor ratio, potential upside, and the relationship between the total risk alpha and maximum drawdown , to decide if Harmony Electronics performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.34 |
Poor reverse predictability
Harmony Electronics has poor reverse predictability. Overlapping area represents the amount of predictability between Harmony Electronics time series from 9th of January 2023 to 20th of December 2023 and 20th of December 2023 to 29th 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 Harmony Electronics price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current Harmony Electronics price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | 0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 3.8 |
Harmony Electronics lagged returns against current returns
Autocorrelation, which is Harmony Electronics 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 Harmony Electronics' stock expected returns. We can calculate the autocorrelation of Harmony Electronics returns to help us make a trade decision. For example, suppose you find that Harmony Electronics 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 |
Harmony Electronics 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 Harmony Electronics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Harmony Electronics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Harmony Electronics stock over time.
Current vs Lagged Prices |
| Timeline |
Harmony Electronics Lagged Returns
When evaluating Harmony Electronics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Harmony Electronics stock have on its future price. Harmony Electronics 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, Harmony Electronics autocorrelation shows the relationship between Harmony Electronics stock current value and its past values and can show if there is a momentum factor associated with investing in Harmony Electronics.
Regressed Prices |
| Timeline |
Pair Trading with Harmony Electronics
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 Harmony Electronics 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 Harmony Electronics will appreciate offsetting losses from the drop in the long position's value.Moving together with Harmony Stock
Moving against Harmony Stock
The ability to find closely correlated positions to Harmony Electronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Harmony Electronics 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 Harmony Electronics - 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 Harmony Electronics to buy it.
The correlation of Harmony Electronics 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 Harmony Electronics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harmony Electronics 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 Harmony Electronics 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 Harmony Stock Analysis
When running Harmony Electronics' price analysis, check to measure Harmony Electronics' 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 Harmony Electronics is operating at the current time. Most of Harmony Electronics' value examination focuses on studying past and present price action to predict the probability of Harmony Electronics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Harmony Electronics' price. Additionally, you may evaluate how the addition of Harmony Electronics to your portfolios can decrease your overall portfolio volatility.