Newretail (Taiwan) Market Value
| 3085 Stock | TWD 24.50 0.20 0.81% |
| Symbol | Newretail |
Newretail '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 Newretail'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 Newretail.
| 08/19/2023 |
| 12/11/2024 |
If you would invest 0.00 in Newretail on August 19, 2023 and sell it all today you would earn a total of 0.00 from holding Newretail Co or generate 0.0% return on investment in Newretail over 480 days. Newretail is related to or competes with President Chain, Uni President, Eclat Textile, Ruentex Development, WiseChip Semiconductor, Novatek Microelectronics, and Leader Electronics. Newretail Co., Ltd operates as an Internet company in Taiwan More
Newretail 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 Newretail'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 Newretail Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.31 | |||
| Information Ratio | 0.218 | |||
| Maximum Drawdown | 17.24 | |||
| Value At Risk | (4.40) | |||
| Potential Upside | 9.86 |
Newretail Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Newretail's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Newretail's standard deviation. In reality, there are many statistical measures that can use Newretail historical prices to predict the future Newretail's volatility.| Risk Adjusted Performance | 0.188 | |||
| Jensen Alpha | 1.1 | |||
| Total Risk Alpha | 0.3542 | |||
| Sortino Ratio | 0.2649 | |||
| Treynor Ratio | (1.02) |
Newretail Backtested Returns
Newretail appears to be somewhat reliable, given 3 months investment horizon. Newretail has Sharpe Ratio of 0.24, which conveys that the firm had a 0.24% return per unit of risk over the last 3 months. By analyzing Newretail's technical indicators, you can evaluate if the expected return of 0.99% is justified by implied risk. Please exercise Newretail's Mean Deviation of 2.9, risk adjusted performance of 0.188, and Downside Deviation of 3.31 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Newretail holds a performance score of 18. The company secures a Beta (Market Risk) of -0.97, which conveys possible diversification benefits within a given portfolio. As the market becomes more bullish, returns on owning Newretail are expected to decrease slowly. On the other hand, during market turmoil, Newretail is expected to outperform it slightly. Please check Newretail's jensen alpha, sortino ratio, maximum drawdown, as well as the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether Newretail's current price movements will revert.
Auto-correlation | -0.47 |
Modest reverse predictability
Newretail Co has modest reverse predictability. Overlapping area represents the amount of predictability between Newretail time series from 19th of August 2023 to 15th of April 2024 and 15th of April 2024 to 11th 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 Newretail price movement. The serial correlation of -0.47 indicates that about 47.0% of current Newretail price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.47 | |
| Spearman Rank Test | -0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 13.3 |
Newretail lagged returns against current returns
Autocorrelation, which is Newretail 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 Newretail's stock expected returns. We can calculate the autocorrelation of Newretail returns to help us make a trade decision. For example, suppose you find that Newretail 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 |
Newretail 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 Newretail stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Newretail stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Newretail stock over time.
Current vs Lagged Prices |
| Timeline |
Newretail Lagged Returns
When evaluating Newretail's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Newretail stock have on its future price. Newretail 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, Newretail autocorrelation shows the relationship between Newretail stock current value and its past values and can show if there is a momentum factor associated with investing in Newretail Co.
Regressed Prices |
| Timeline |
Pair Trading with Newretail
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 Newretail 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 Newretail will appreciate offsetting losses from the drop in the long position's value.Moving against Newretail Stock
| 0.66 | 3034 | Novatek Microelectronics | PairCorr |
| 0.56 | 5274 | Aspeed Technology | PairCorr |
| 0.46 | 3008 | LARGAN Precision | PairCorr |
| 0.46 | 2327 | Yageo Corp | PairCorr |
The ability to find closely correlated positions to Newretail could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Newretail 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 Newretail - 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 Newretail Co to buy it.
The correlation of Newretail 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 Newretail moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Newretail 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 Newretail 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 Newretail Stock Analysis
When running Newretail's price analysis, check to measure Newretail'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 Newretail is operating at the current time. Most of Newretail's value examination focuses on studying past and present price action to predict the probability of Newretail's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Newretail's price. Additionally, you may evaluate how the addition of Newretail to your portfolios can decrease your overall portfolio volatility.