Jetwell Computer (Taiwan) Market Value
| 3147 Stock | TWD 140.00 3.00 2.10% |
| Symbol | Jetwell |
Jetwell Computer '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 Jetwell Computer'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 Jetwell Computer.
| 08/19/2023 |
| 12/11/2024 |
If you would invest 0.00 in Jetwell Computer on August 19, 2023 and sell it all today you would earn a total of 0.00 from holding Jetwell Computer Co or generate 0.0% return on investment in Jetwell Computer over 480 days. Jetwell Computer is related to or competes with Wistron Information, Genesis Technology, Syscom Computer, and Tatung System. More
Jetwell Computer 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 Jetwell Computer'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 Jetwell Computer Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 9.86 | |||
| Value At Risk | (3.69) | |||
| Potential Upside | 4.06 |
Jetwell Computer Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Jetwell Computer's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Jetwell Computer's standard deviation. In reality, there are many statistical measures that can use Jetwell Computer historical prices to predict the future Jetwell Computer's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.49) | |||
| Treynor Ratio | (0.23) |
Jetwell Computer Backtested Returns
Jetwell Computer holds Efficiency (Sharpe) Ratio of -0.0859, which attests that the entity had a -0.0859% return per unit of risk over the last 3 months. Jetwell Computer exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Jetwell Computer's Standard Deviation of 2.42, risk adjusted performance of (0.02), and Market Risk Adjusted Performance of (0.22) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.46, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Jetwell Computer's returns are expected to increase less than the market. However, during the bear market, the loss of holding Jetwell Computer is expected to be smaller as well. At this point, Jetwell Computer has a negative expected return of -0.2%. Please make sure to check out Jetwell Computer's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Jetwell Computer performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.29 |
Poor predictability
Jetwell Computer Co has poor predictability. Overlapping area represents the amount of predictability between Jetwell Computer 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 Jetwell Computer price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Jetwell Computer price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 158.11 |
Jetwell Computer lagged returns against current returns
Autocorrelation, which is Jetwell Computer 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 Jetwell Computer's stock expected returns. We can calculate the autocorrelation of Jetwell Computer returns to help us make a trade decision. For example, suppose you find that Jetwell Computer 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 |
Jetwell Computer 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 Jetwell Computer stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Jetwell Computer stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Jetwell Computer stock over time.
Current vs Lagged Prices |
| Timeline |
Jetwell Computer Lagged Returns
When evaluating Jetwell Computer's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Jetwell Computer stock have on its future price. Jetwell Computer 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, Jetwell Computer autocorrelation shows the relationship between Jetwell Computer stock current value and its past values and can show if there is a momentum factor associated with investing in Jetwell Computer Co.
Regressed Prices |
| Timeline |
Pair Trading with Jetwell Computer
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 Jetwell Computer 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 Jetwell Computer will appreciate offsetting losses from the drop in the long position's value.Moving against Jetwell Stock
| 0.72 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.69 | 6763 | Green World Fintech | PairCorr |
| 0.68 | 1449 | Chia Her Industrial Split | PairCorr |
| 0.61 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.55 | 2609 | Yang Ming Marine | PairCorr |
The ability to find closely correlated positions to Jetwell Computer could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jetwell Computer 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 Jetwell Computer - 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 Jetwell Computer Co to buy it.
The correlation of Jetwell Computer 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 Jetwell Computer moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jetwell Computer 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 Jetwell Computer 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 Jetwell Stock Analysis
When running Jetwell Computer's price analysis, check to measure Jetwell Computer'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 Jetwell Computer is operating at the current time. Most of Jetwell Computer's value examination focuses on studying past and present price action to predict the probability of Jetwell Computer's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Jetwell Computer's price. Additionally, you may evaluate how the addition of Jetwell Computer to your portfolios can decrease your overall portfolio volatility.