Niching Industrial (Taiwan) Market Value
| 3444 Stock | TWD 80.00 2.70 3.26% |
| Symbol | Niching |
Niching Industrial '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 Niching Industrial'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 Niching Industrial.
| 11/14/2024 |
| 12/14/2024 |
If you would invest 0.00 in Niching Industrial on November 14, 2024 and sell it all today you would earn a total of 0.00 from holding Niching Industrial or generate 0.0% return on investment in Niching Industrial over 30 days. Niching Industrial is related to or competes with Dimension Computer, Kworld Computer, Ruentex Development, Symtek Automation, WiseChip Semiconductor, and Novatek Microelectronics. More
Niching Industrial 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 Niching Industrial'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 Niching Industrial upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 11.95 | |||
| Value At Risk | (2.86) | |||
| Potential Upside | 2.4 |
Niching Industrial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Niching Industrial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Niching Industrial's standard deviation. In reality, there are many statistical measures that can use Niching Industrial historical prices to predict the future Niching Industrial's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.37) | |||
| Treynor Ratio | (0.36) |
Niching Industrial Backtested Returns
Niching Industrial has Sharpe Ratio of -0.16, which conveys that the firm had a -0.16% return per unit of risk over the last 3 months. Niching Industrial exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Niching Industrial's Standard Deviation of 1.94, mean deviation of 1.31, and Risk Adjusted Performance of (0.04) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.34, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Niching Industrial's returns are expected to increase less than the market. However, during the bear market, the loss of holding Niching Industrial is expected to be smaller as well. At this point, Niching Industrial has a negative expected return of -0.26%. Please make sure to verify Niching Industrial's standard deviation, jensen alpha, and the relationship between the coefficient of variation and information ratio , to decide if Niching Industrial performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.58 |
Good reverse predictability
Niching Industrial has good reverse predictability. Overlapping area represents the amount of predictability between Niching Industrial 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 Niching Industrial price movement. The serial correlation of -0.58 indicates that roughly 58.0% of current Niching Industrial price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.58 | |
| Spearman Rank Test | -0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 2.46 |
Niching Industrial lagged returns against current returns
Autocorrelation, which is Niching Industrial 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 Niching Industrial's stock expected returns. We can calculate the autocorrelation of Niching Industrial returns to help us make a trade decision. For example, suppose you find that Niching Industrial 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 |
Niching Industrial 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 Niching Industrial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Niching Industrial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Niching Industrial stock over time.
Current vs Lagged Prices |
| Timeline |
Niching Industrial Lagged Returns
When evaluating Niching Industrial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Niching Industrial stock have on its future price. Niching Industrial 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, Niching Industrial autocorrelation shows the relationship between Niching Industrial stock current value and its past values and can show if there is a momentum factor associated with investing in Niching Industrial.
Regressed Prices |
| Timeline |
Pair Trading with Niching Industrial
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 Niching Industrial 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 Niching Industrial will appreciate offsetting losses from the drop in the long position's value.Moving together with Niching Stock
Moving against Niching Stock
| 0.76 | 2881A | Fubon Financial Holding | PairCorr |
| 0.73 | 2882B | Cathay Financial Holding | PairCorr |
| 0.67 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.67 | 2317 | Hon Hai Precision | PairCorr |
| 0.67 | 0050 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Niching Industrial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Niching Industrial 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 Niching Industrial - 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 Niching Industrial to buy it.
The correlation of Niching Industrial 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 Niching Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Niching Industrial 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 Niching Industrial 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 Niching Stock Analysis
When running Niching Industrial's price analysis, check to measure Niching Industrial'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 Niching Industrial is operating at the current time. Most of Niching Industrial's value examination focuses on studying past and present price action to predict the probability of Niching Industrial's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Niching Industrial's price. Additionally, you may evaluate how the addition of Niching Industrial to your portfolios can decrease your overall portfolio volatility.