STARLUX Airlines (Taiwan) Market Value
| 2646 Stock | 28.40 0.20 0.71% |
| Symbol | STARLUX |
STARLUX Airlines '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 STARLUX Airlines' 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 STARLUX Airlines.
| 11/14/2024 |
| 12/14/2024 |
If you would invest 0.00 in STARLUX Airlines on November 14, 2024 and sell it all today you would earn a total of 0.00 from holding STARLUX Airlines Co or generate 0.0% return on investment in STARLUX Airlines over 30 days.
STARLUX Airlines 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 STARLUX Airlines' 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 STARLUX Airlines Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.66 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 9.19 | |||
| Value At Risk | (2.07) | |||
| Potential Upside | 3.08 |
STARLUX Airlines Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for STARLUX Airlines' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as STARLUX Airlines' standard deviation. In reality, there are many statistical measures that can use STARLUX Airlines historical prices to predict the future STARLUX Airlines' volatility.| Risk Adjusted Performance | 0.0234 | |||
| Jensen Alpha | 0.0342 | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | (0.53) |
STARLUX Airlines Backtested Returns
At this stage we consider STARLUX Stock to be very steady. STARLUX Airlines retains Efficiency (Sharpe Ratio) of 0.0166, which indicates the firm had a 0.0166% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for STARLUX Airlines, which you can use to evaluate the volatility of the company. Please validate STARLUX Airlines' risk adjusted performance of 0.0234, and Downside Deviation of 1.66 to confirm if the risk estimate we provide is consistent with the expected return of 0.0268%. STARLUX Airlines has a performance score of 1 on a scale of 0 to 100. The entity owns a Beta (Systematic Risk) of -0.0556, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning STARLUX Airlines are expected to decrease at a much lower rate. During the bear market, STARLUX Airlines is likely to outperform the market. STARLUX Airlines currently owns a risk of 1.61%. Please validate STARLUX Airlines Co semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to decide if STARLUX Airlines Co will be following its current price history.
Auto-correlation | -0.68 |
Very good reverse predictability
STARLUX Airlines Co has very good reverse predictability. Overlapping area represents the amount of predictability between STARLUX Airlines 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 STARLUX Airlines price movement. The serial correlation of -0.68 indicates that around 68.0% of current STARLUX Airlines price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.68 | |
| Spearman Rank Test | -0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
STARLUX Airlines lagged returns against current returns
Autocorrelation, which is STARLUX Airlines 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 STARLUX Airlines' stock expected returns. We can calculate the autocorrelation of STARLUX Airlines returns to help us make a trade decision. For example, suppose you find that STARLUX Airlines 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 |
STARLUX Airlines 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 STARLUX Airlines stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if STARLUX Airlines stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in STARLUX Airlines stock over time.
Current vs Lagged Prices |
| Timeline |
STARLUX Airlines Lagged Returns
When evaluating STARLUX Airlines' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of STARLUX Airlines stock have on its future price. STARLUX Airlines 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, STARLUX Airlines autocorrelation shows the relationship between STARLUX Airlines stock current value and its past values and can show if there is a momentum factor associated with investing in STARLUX Airlines Co.
Regressed Prices |
| Timeline |
Pair Trading with STARLUX Airlines
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 STARLUX Airlines 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 STARLUX Airlines will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to STARLUX Airlines could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace STARLUX Airlines 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 STARLUX Airlines - 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 STARLUX Airlines Co to buy it.
The correlation of STARLUX Airlines 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 STARLUX Airlines moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if STARLUX Airlines 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 STARLUX Airlines 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 STARLUX Stock Analysis
When running STARLUX Airlines' price analysis, check to measure STARLUX Airlines' 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 STARLUX Airlines is operating at the current time. Most of STARLUX Airlines' value examination focuses on studying past and present price action to predict the probability of STARLUX Airlines' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move STARLUX Airlines' price. Additionally, you may evaluate how the addition of STARLUX Airlines to your portfolios can decrease your overall portfolio volatility.