Hua Eng (Taiwan) Market Value
| 1608 Stock | TWD 26.00 0.80 2.99% |
| Symbol | Hua |
Hua Eng '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 Hua Eng'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 Hua Eng.
| 12/25/2022 |
| 12/14/2024 |
If you would invest 0.00 in Hua Eng on December 25, 2022 and sell it all today you would earn a total of 0.00 from holding Hua Eng Wire or generate 0.0% return on investment in Hua Eng over 720 days. Hua Eng is related to or competes with Wan Hai, U Ming, and China Airlines. Hua Eng Wire Cable Co., Ltd. manufactures and sells various cables and wires in Taiwan More
Hua Eng 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 Hua Eng'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 Hua Eng Wire upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 7.0 | |||
| Value At Risk | (2.53) | |||
| Potential Upside | 2.03 |
Hua Eng Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hua Eng's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hua Eng's standard deviation. In reality, there are many statistical measures that can use Hua Eng historical prices to predict the future Hua Eng's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.26) | |||
| Total Risk Alpha | (0.44) | |||
| Treynor Ratio | (1.53) |
Hua Eng Wire Backtested Returns
Hua Eng Wire holds Efficiency (Sharpe) Ratio of -0.19, which attests that the entity had a -0.19% return per unit of standard deviation over the last 3 months. Hua Eng Wire exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hua Eng's risk adjusted performance of (0.10), and Market Risk Adjusted Performance of (1.52) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.16, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hua Eng's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hua Eng is expected to be smaller as well. At this point, Hua Eng Wire has a negative expected return of -0.3%. Please make sure to check out Hua Eng's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Hua Eng Wire performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.72 |
Good predictability
Hua Eng Wire has good predictability. Overlapping area represents the amount of predictability between Hua Eng time series from 25th of December 2022 to 20th of December 2023 and 20th of December 2023 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 Hua Eng Wire price movement. The serial correlation of 0.72 indicates that around 72.0% of current Hua Eng price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 40.82 |
Hua Eng Wire lagged returns against current returns
Autocorrelation, which is Hua Eng 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 Hua Eng's stock expected returns. We can calculate the autocorrelation of Hua Eng returns to help us make a trade decision. For example, suppose you find that Hua Eng 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 |
Hua Eng 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 Hua Eng stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hua Eng stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hua Eng stock over time.
Current vs Lagged Prices |
| Timeline |
Hua Eng Lagged Returns
When evaluating Hua Eng's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hua Eng stock have on its future price. Hua Eng 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, Hua Eng autocorrelation shows the relationship between Hua Eng stock current value and its past values and can show if there is a momentum factor associated with investing in Hua Eng Wire.
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 Hua Stock Analysis
When running Hua Eng's price analysis, check to measure Hua Eng'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 Hua Eng is operating at the current time. Most of Hua Eng's value examination focuses on studying past and present price action to predict the probability of Hua Eng's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hua Eng's price. Additionally, you may evaluate how the addition of Hua Eng to your portfolios can decrease your overall portfolio volatility.