Sinopac ICE (Taiwan) Market Value
| 00836B Etf | TWD 30.13 0.13 0.43% |
| Symbol | Sinopac |
Please note, there is a significant difference between Sinopac ICE's value and its price as these two are different measures arrived at by different means. Investors typically determine if Sinopac ICE is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Sinopac ICE's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Sinopac ICE '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 Sinopac ICE's etf 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 Sinopac ICE.
| 12/03/2023 |
| 12/27/2024 |
If you would invest 0.00 in Sinopac ICE on December 3, 2023 and sell it all today you would earn a total of 0.00 from holding Sinopac ICE 10 or generate 0.0% return on investment in Sinopac ICE over 390 days. Sinopac ICE is related to or competes with YuantaP Shares, Yuanta Daily, Fubon FTSE, Fuh Hwa, Paradigm, and Yuanta Daily. More
Sinopac ICE 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 Sinopac ICE's etf 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 Sinopac ICE 10 upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 3.62 | |||
| Value At Risk | (1.41) | |||
| Potential Upside | 0.8704 |
Sinopac ICE Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sinopac ICE's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sinopac ICE's standard deviation. In reality, there are many statistical measures that can use Sinopac ICE historical prices to predict the future Sinopac ICE's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.15) | |||
| Treynor Ratio | 33.75 |
Sinopac ICE 10 Backtested Returns
Sinopac ICE 10 owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.13, which indicates the etf had a -0.13% return per unit of risk over the last 3 months. Sinopac ICE 10 exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sinopac ICE's Variance of 0.4944, coefficient of variation of (671.29), and Risk Adjusted Performance of (0.12) to confirm the risk estimate we provide. The entity has a beta of -0.0034, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Sinopac ICE are expected to decrease at a much lower rate. During the bear market, Sinopac ICE is likely to outperform the market.
Auto-correlation | 0.06 |
Virtually no predictability
Sinopac ICE 10 has virtually no predictability. Overlapping area represents the amount of predictability between Sinopac ICE time series from 3rd of December 2023 to 15th of June 2024 and 15th of June 2024 to 27th 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 Sinopac ICE 10 price movement. The serial correlation of 0.06 indicates that barely 6.0% of current Sinopac ICE price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.06 | |
| Spearman Rank Test | 0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 0.32 |
Sinopac ICE 10 lagged returns against current returns
Autocorrelation, which is Sinopac ICE etf'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 Sinopac ICE's etf expected returns. We can calculate the autocorrelation of Sinopac ICE returns to help us make a trade decision. For example, suppose you find that Sinopac ICE has exhibited high autocorrelation historically, and you observe that the etf 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 |
Sinopac ICE 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 Sinopac ICE etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sinopac ICE etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sinopac ICE etf over time.
Current vs Lagged Prices |
| Timeline |
Sinopac ICE Lagged Returns
When evaluating Sinopac ICE's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sinopac ICE etf have on its future price. Sinopac ICE 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, Sinopac ICE autocorrelation shows the relationship between Sinopac ICE etf current value and its past values and can show if there is a momentum factor associated with investing in Sinopac ICE 10.
Regressed Prices |
| Timeline |
Pair Trading with Sinopac ICE
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 Sinopac ICE 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 Sinopac ICE will appreciate offsetting losses from the drop in the long position's value.Moving against Sinopac Etf
| 0.62 | 00881 | Cathay Taiwan 5G | PairCorr |
| 0.53 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.43 | 006208 | Fubon FTSE TWSE | PairCorr |
| 0.42 | 006203 | YuantaP shares MSCI | PairCorr |
| 0.41 | 0057 | Fubon MSCI Taiwan | PairCorr |
The ability to find closely correlated positions to Sinopac ICE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sinopac ICE 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 Sinopac ICE - 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 Sinopac ICE 10 to buy it.
The correlation of Sinopac ICE 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 Sinopac ICE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sinopac ICE 10 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 Sinopac ICE 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 Sinopac Etf
Sinopac ICE financial ratios help investors to determine whether Sinopac Etf 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 Sinopac with respect to the benefits of owning Sinopac ICE security.