FIT INVEST (Vietnam) Market Value
| FIT Stock | 4,160 10.00 0.24% |
| Symbol | FIT |
FIT INVEST '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 FIT INVEST'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 FIT INVEST.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in FIT INVEST on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding FIT INVEST JSC or generate 0.0% return on investment in FIT INVEST over 30 days. FIT INVEST is related to or competes with Hanoi Plastics, Vietnam Rubber, PVI Reinsurance, and Viet Thanh. More
FIT INVEST 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 FIT INVEST'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 FIT INVEST JSC upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 9.89 | |||
| Value At Risk | (2.06) | |||
| Potential Upside | 1.62 |
FIT INVEST Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for FIT INVEST's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as FIT INVEST's standard deviation. In reality, there are many statistical measures that can use FIT INVEST historical prices to predict the future FIT INVEST's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.29) | |||
| Treynor Ratio | (0.19) |
FIT INVEST JSC Backtested Returns
FIT INVEST JSC secures Sharpe Ratio (or Efficiency) of -0.0353, which denotes the company had a -0.0353% return per unit of volatility over the last 3 months. FIT INVEST JSC exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm FIT INVEST's Mean Deviation of 0.8812, market risk adjusted performance of (0.18), and Standard Deviation of 1.4 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.33, which means possible diversification benefits within a given portfolio. As returns on the market increase, FIT INVEST's returns are expected to increase less than the market. However, during the bear market, the loss of holding FIT INVEST is expected to be smaller as well. At this point, FIT INVEST JSC has a negative expected return of -0.0508%. Please make sure to confirm FIT INVEST's skewness, as well as the relationship between the rate of daily change and price action indicator , to decide if FIT INVEST JSC performance from the past will be repeated at future time.
Auto-correlation | -0.75 |
Almost perfect reverse predictability
FIT INVEST JSC has almost perfect reverse predictability. Overlapping area represents the amount of predictability between FIT INVEST time series from 27th of October 2024 to 11th of November 2024 and 11th of November 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 FIT INVEST JSC price movement. The serial correlation of -0.75 indicates that around 75.0% of current FIT INVEST price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.75 | |
| Spearman Rank Test | -0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 9014.88 |
FIT INVEST JSC lagged returns against current returns
Autocorrelation, which is FIT INVEST 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 FIT INVEST's stock expected returns. We can calculate the autocorrelation of FIT INVEST returns to help us make a trade decision. For example, suppose you find that FIT INVEST 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 |
FIT INVEST 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 FIT INVEST stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if FIT INVEST stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in FIT INVEST stock over time.
Current vs Lagged Prices |
| Timeline |
FIT INVEST Lagged Returns
When evaluating FIT INVEST's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of FIT INVEST stock have on its future price. FIT INVEST 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, FIT INVEST autocorrelation shows the relationship between FIT INVEST stock current value and its past values and can show if there is a momentum factor associated with investing in FIT INVEST JSC.
Regressed Prices |
| Timeline |
Pair Trading with FIT INVEST
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 FIT INVEST 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 FIT INVEST will appreciate offsetting losses from the drop in the long position's value.Moving against FIT Stock
The ability to find closely correlated positions to FIT INVEST could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FIT INVEST 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 FIT INVEST - 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 FIT INVEST JSC to buy it.
The correlation of FIT INVEST 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 FIT INVEST moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FIT INVEST JSC 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 FIT INVEST 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.Other Information on Investing in FIT Stock
FIT INVEST financial ratios help investors to determine whether FIT Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in FIT with respect to the benefits of owning FIT INVEST security.