Skardin Industrial (Taiwan) Market Value
| 3466 Stock | TWD 63.20 0.80 1.28% |
| Symbol | Skardin |
Skardin 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 Skardin 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 Skardin Industrial.
| 11/15/2024 |
| 12/15/2024 |
If you would invest 0.00 in Skardin Industrial on November 15, 2024 and sell it all today you would earn a total of 0.00 from holding Skardin Industrial or generate 0.0% return on investment in Skardin Industrial over 30 days. Skardin Industrial is related to or competes with Gemtek Technology, Ruentex Development, WiseChip Semiconductor, Novatek Microelectronics, Leader Electronics, Information Technology, and Kinko Optical. More
Skardin 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 Skardin 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 Skardin Industrial upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.73 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 19.95 | |||
| Value At Risk | (4.39) | |||
| Potential Upside | 7.08 |
Skardin Industrial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Skardin Industrial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Skardin Industrial's standard deviation. In reality, there are many statistical measures that can use Skardin Industrial historical prices to predict the future Skardin Industrial's volatility.| Risk Adjusted Performance | 0.025 | |||
| Jensen Alpha | 0.0979 | |||
| Total Risk Alpha | (0.38) | |||
| Sortino Ratio | (0) | |||
| Treynor Ratio | (0.33) |
Skardin Industrial Backtested Returns
At this stage we consider Skardin Stock to be very steady. Skardin Industrial owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0191, which indicates the firm had a 0.0191% return per unit of risk over the last 3 months. We have found thirty technical indicators for Skardin Industrial, which you can use to evaluate the volatility of the company. Please validate Skardin Industrial's Risk Adjusted Performance of 0.025, coefficient of variation of 4265.55, and Semi Deviation of 3.29 to confirm if the risk estimate we provide is consistent with the expected return of 0.0719%. Skardin Industrial has a performance score of 1 on a scale of 0 to 100. The entity has a beta of -0.23, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Skardin Industrial are expected to decrease at a much lower rate. During the bear market, Skardin Industrial is likely to outperform the market. Skardin Industrial right now has a risk of 3.76%. Please validate Skardin Industrial market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to decide if Skardin Industrial will be following its existing price patterns.
Auto-correlation | 0.02 |
Virtually no predictability
Skardin Industrial has virtually no predictability. Overlapping area represents the amount of predictability between Skardin Industrial time series from 15th of November 2024 to 30th of November 2024 and 30th of November 2024 to 15th 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 Skardin Industrial price movement. The serial correlation of 0.02 indicates that only 2.0% of current Skardin Industrial price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | -0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 9.55 |
Skardin Industrial lagged returns against current returns
Autocorrelation, which is Skardin 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 Skardin Industrial's stock expected returns. We can calculate the autocorrelation of Skardin Industrial returns to help us make a trade decision. For example, suppose you find that Skardin 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 |
Skardin 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 Skardin Industrial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Skardin Industrial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Skardin Industrial stock over time.
Current vs Lagged Prices |
| Timeline |
Skardin Industrial Lagged Returns
When evaluating Skardin Industrial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Skardin Industrial stock have on its future price. Skardin 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, Skardin Industrial autocorrelation shows the relationship between Skardin Industrial stock current value and its past values and can show if there is a momentum factor associated with investing in Skardin Industrial.
Regressed Prices |
| Timeline |
Pair Trading with Skardin 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 Skardin 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 Skardin Industrial will appreciate offsetting losses from the drop in the long position's value.Moving against Skardin Stock
The ability to find closely correlated positions to Skardin 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 Skardin 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 Skardin 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 Skardin Industrial to buy it.
The correlation of Skardin 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 Skardin Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Skardin 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 Skardin 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 Skardin Stock Analysis
When running Skardin Industrial's price analysis, check to measure Skardin 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 Skardin Industrial is operating at the current time. Most of Skardin Industrial's value examination focuses on studying past and present price action to predict the probability of Skardin 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 Skardin Industrial's price. Additionally, you may evaluate how the addition of Skardin Industrial to your portfolios can decrease your overall portfolio volatility.