Fortune Electric (Taiwan) Market Value
| 1519 Stock | TWD 529.00 2.00 0.38% |
| Symbol | Fortune |
Fortune Electric '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 Fortune Electric'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 Fortune Electric.
| 11/14/2024 |
| 12/14/2024 |
If you would invest 0.00 in Fortune Electric on November 14, 2024 and sell it all today you would earn a total of 0.00 from holding Fortune Electric Co or generate 0.0% return on investment in Fortune Electric over 30 days. Fortune Electric is related to or competes with Wan Hai, U Ming, and China Airlines. Fortune Electric Co., Ltd. manufactures and sells transformers in Taiwan, the United States, and Canada More
Fortune Electric 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 Fortune Electric'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 Fortune Electric Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 16.29 | |||
| Value At Risk | (4.80) | |||
| Potential Upside | 5.31 |
Fortune Electric Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fortune Electric's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fortune Electric's standard deviation. In reality, there are many statistical measures that can use Fortune Electric historical prices to predict the future Fortune Electric's volatility.| Risk Adjusted Performance | 0.0045 | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.42) | |||
| Treynor Ratio | (0.03) |
Fortune Electric Backtested Returns
Fortune Electric secures Sharpe Ratio (or Efficiency) of -0.0268, which denotes the company had a -0.0268% return per unit of risk over the last 3 months. Fortune Electric Co exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fortune Electric's Mean Deviation of 2.43, standard deviation of 3.2, and Variance of 10.21 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.76, which means possible diversification benefits within a given portfolio. As returns on the market increase, Fortune Electric's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fortune Electric is expected to be smaller as well. At this point, Fortune Electric has a negative expected return of -0.0866%. Please make sure to confirm Fortune Electric's information ratio, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Fortune Electric performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.22 |
Weak predictability
Fortune Electric Co has weak predictability. Overlapping area represents the amount of predictability between Fortune Electric time series from 14th of November 2024 to 29th of November 2024 and 29th of November 2024 to 14th 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 Fortune Electric price movement. The serial correlation of 0.22 indicates that over 22.0% of current Fortune Electric price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.22 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 339.29 |
Fortune Electric lagged returns against current returns
Autocorrelation, which is Fortune Electric 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 Fortune Electric's stock expected returns. We can calculate the autocorrelation of Fortune Electric returns to help us make a trade decision. For example, suppose you find that Fortune Electric 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 |
Fortune Electric 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 Fortune Electric stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fortune Electric stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fortune Electric stock over time.
Current vs Lagged Prices |
| Timeline |
Fortune Electric Lagged Returns
When evaluating Fortune Electric's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fortune Electric stock have on its future price. Fortune Electric 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, Fortune Electric autocorrelation shows the relationship between Fortune Electric stock current value and its past values and can show if there is a momentum factor associated with investing in Fortune Electric Co.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Fortune Stock Analysis
When running Fortune Electric's price analysis, check to measure Fortune Electric'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 Fortune Electric is operating at the current time. Most of Fortune Electric's value examination focuses on studying past and present price action to predict the probability of Fortune Electric's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fortune Electric's price. Additionally, you may evaluate how the addition of Fortune Electric to your portfolios can decrease your overall portfolio volatility.