Wah Hong (Taiwan) Market Value
| 8240 Stock | TWD 47.55 5.25 9.94% |
| Symbol | Wah |
Wah Hong '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 Wah Hong'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 Wah Hong.
| 06/02/2024 |
| 11/29/2024 |
If you would invest 0.00 in Wah Hong on June 2, 2024 and sell it all today you would earn a total of 0.00 from holding Wah Hong Industrial or generate 0.0% return on investment in Wah Hong over 180 days. Wah Hong is related to or competes with Tatung System, Taiwan Chinsan, Alcor Micro, AVY Precision, and Fulltech Fiber. More
Wah Hong 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 Wah Hong'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 Wah Hong Industrial upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.23 | |||
| Information Ratio | 0.111 | |||
| Maximum Drawdown | 19.86 | |||
| Value At Risk | (8.19) | |||
| Potential Upside | 8.62 |
Wah Hong Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wah Hong's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wah Hong's standard deviation. In reality, there are many statistical measures that can use Wah Hong historical prices to predict the future Wah Hong's volatility.| Risk Adjusted Performance | 0.1168 | |||
| Jensen Alpha | 0.4764 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | 0.107 | |||
| Treynor Ratio | 0.7144 |
Wah Hong Industrial Backtested Returns
Wah Hong appears to be very steady, given 3 months investment horizon. Wah Hong Industrial shows Sharpe Ratio of 0.14, which attests that the company had a 0.14% return per unit of risk over the last 3 months. By examining Wah Hong's technical indicators, you can evaluate if the expected return of 0.57% is justified by implied risk. Please utilize Wah Hong's Mean Deviation of 2.75, market risk adjusted performance of 0.7244, and Downside Deviation of 4.23 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Wah Hong holds a performance score of 10. The firm maintains a market beta of 0.8, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Wah Hong's returns are expected to increase less than the market. However, during the bear market, the loss of holding Wah Hong is expected to be smaller as well. Please check Wah Hong's mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Wah Hong's historical returns will revert.
Auto-correlation | -0.72 |
Almost perfect reverse predictability
Wah Hong Industrial has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Wah Hong time series from 2nd of June 2024 to 31st of August 2024 and 31st of August 2024 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 Wah Hong Industrial price movement. The serial correlation of -0.72 indicates that around 72.0% of current Wah Hong price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.72 | |
| Spearman Rank Test | -0.73 | |
| Residual Average | 0.0 | |
| Price Variance | 42.65 |
Wah Hong Industrial lagged returns against current returns
Autocorrelation, which is Wah Hong 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 Wah Hong's stock expected returns. We can calculate the autocorrelation of Wah Hong returns to help us make a trade decision. For example, suppose you find that Wah Hong 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 |
Wah Hong 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 Wah Hong stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wah Hong stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wah Hong stock over time.
Current vs Lagged Prices |
| Timeline |
Wah Hong Lagged Returns
When evaluating Wah Hong's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wah Hong stock have on its future price. Wah Hong 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, Wah Hong autocorrelation shows the relationship between Wah Hong stock current value and its past values and can show if there is a momentum factor associated with investing in Wah Hong Industrial.
Regressed Prices |
| Timeline |
Pair Trading with Wah Hong
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 Wah Hong 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 Wah Hong will appreciate offsetting losses from the drop in the long position's value.Moving together with Wah Stock
Moving against Wah Stock
| 0.79 | 4109 | Jia Jie Biomedical | PairCorr |
| 0.77 | 9136 | Ju Teng International | PairCorr |
| 0.75 | 3008 | LARGAN Precision | PairCorr |
| 0.68 | 1734 | Sinphar Pharmaceutical Split | PairCorr |
| 0.66 | 2327 | Yageo Corp | PairCorr |
The ability to find closely correlated positions to Wah Hong could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wah Hong 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 Wah Hong - 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 Wah Hong Industrial to buy it.
The correlation of Wah Hong 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 Wah Hong moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wah Hong Industrial 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 Wah Hong 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 Wah Stock Analysis
When running Wah Hong's price analysis, check to measure Wah Hong'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 Wah Hong is operating at the current time. Most of Wah Hong's value examination focuses on studying past and present price action to predict the probability of Wah Hong's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Wah Hong's price. Additionally, you may evaluate how the addition of Wah Hong to your portfolios can decrease your overall portfolio volatility.