Phison Electronics (Taiwan) Market Value
| 8299 Stock | TWD 460.50 10.50 2.23% |
| Symbol | Phison |
Phison 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 Phison 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 Phison Electronics.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in Phison Electronics on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding Phison Electronics or generate 0.0% return on investment in Phison Electronics over 180 days. Phison Electronics is related to or competes with Chung Hwa, Sports Gear, Asia Metal, Lian Hwa, Standard Foods, and Feng Ching. Phison Electronics Corp. designs, produces, and sells flash memory controllers and peripheral system applications in Asi... More
Phison 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 Phison 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 Phison Electronics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 10.96 | |||
| Value At Risk | (3.78) | |||
| Potential Upside | 3.35 |
Phison Electronics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Phison Electronics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Phison Electronics' standard deviation. In reality, there are many statistical measures that can use Phison Electronics historical prices to predict the future Phison Electronics' volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.22) | |||
| Total Risk Alpha | (0.52) | |||
| Treynor Ratio | (0.29) |
Phison Electronics Backtested Returns
Phison Electronics maintains Sharpe Ratio (i.e., Efficiency) of -0.11, which implies the firm had a -0.11% return per unit of risk over the last 3 months. Phison Electronics exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Phison Electronics' Variance of 5.21, coefficient of variation of (1,549), and Risk Adjusted Performance of (0.04) to confirm the risk estimate we provide. The company holds a Beta of 0.54, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Phison Electronics' returns are expected to increase less than the market. However, during the bear market, the loss of holding Phison Electronics is expected to be smaller as well. At this point, Phison Electronics has a negative expected return of -0.24%. Please make sure to check Phison Electronics' mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Phison Electronics performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.53 |
Modest predictability
Phison Electronics has modest predictability. Overlapping area represents the amount of predictability between Phison Electronics time series from 30th of May 2024 to 28th of August 2024 and 28th of August 2024 to 26th 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 Phison Electronics price movement. The serial correlation of 0.53 indicates that about 53.0% of current Phison Electronics price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | 0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 736.84 |
Phison Electronics lagged returns against current returns
Autocorrelation, which is Phison 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 Phison Electronics' stock expected returns. We can calculate the autocorrelation of Phison Electronics returns to help us make a trade decision. For example, suppose you find that Phison 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 |
Phison 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 Phison Electronics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Phison Electronics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Phison Electronics stock over time.
Current vs Lagged Prices |
| Timeline |
Phison Electronics Lagged Returns
When evaluating Phison Electronics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Phison Electronics stock have on its future price. Phison 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, Phison Electronics autocorrelation shows the relationship between Phison Electronics stock current value and its past values and can show if there is a momentum factor associated with investing in Phison Electronics.
Regressed Prices |
| Timeline |
Pair Trading with Phison 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 Phison 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 Phison Electronics will appreciate offsetting losses from the drop in the long position's value.Moving together with Phison Stock
| 0.84 | 4174 | OBI Pharma | PairCorr |
| 0.79 | 5514 | Sunfon Construction | PairCorr |
| 0.69 | 1435 | Chung Fu Tex | PairCorr |
| 0.73 | 4157 | Taigen Biopharmaceutica | PairCorr |
Moving against Phison Stock
| 0.56 | 1235 | Shin Tai Industry Split | PairCorr |
| 0.5 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.47 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.37 | 0053 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Phison 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 Phison 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 Phison 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 Phison Electronics to buy it.
The correlation of Phison 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 Phison Electronics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Phison 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 Phison 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 Phison Stock Analysis
When running Phison Electronics' price analysis, check to measure Phison 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 Phison Electronics is operating at the current time. Most of Phison Electronics' value examination focuses on studying past and present price action to predict the probability of Phison Electronics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Phison Electronics' price. Additionally, you may evaluate how the addition of Phison Electronics to your portfolios can decrease your overall portfolio volatility.