Gigasolar Materials (Taiwan) Market Value
| 3691 Stock | TWD 83.10 1.40 1.66% |
| Symbol | Gigasolar |
Gigasolar Materials '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 Gigasolar Materials' 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 Gigasolar Materials.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in Gigasolar Materials on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding Gigasolar Materials or generate 0.0% return on investment in Gigasolar Materials over 30 days. Gigasolar Materials is related to or competes with Danen Technology, Falcon Power, Ruentex Development, Symtek Automation, CTCI Corp, and Information Technology. Giga Solar Materials Corp. manufactures and sells PV conductive pastes in Asia, Europe, and the United States More
Gigasolar Materials 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 Gigasolar Materials' 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 Gigasolar Materials upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 9.7 | |||
| Value At Risk | (4.35) | |||
| Potential Upside | 2.72 |
Gigasolar Materials Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Gigasolar Materials' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Gigasolar Materials' standard deviation. In reality, there are many statistical measures that can use Gigasolar Materials historical prices to predict the future Gigasolar Materials' volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.32) | |||
| Total Risk Alpha | (0.61) | |||
| Treynor Ratio | (0.95) |
Gigasolar Materials Backtested Returns
Gigasolar Materials holds Efficiency (Sharpe) Ratio of -0.15, which attests that the entity had a -0.15% return per unit of risk over the last 3 months. Gigasolar Materials exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Gigasolar Materials' Market Risk Adjusted Performance of (0.94), standard deviation of 2.08, and Risk Adjusted Performance of (0.09) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.3, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Gigasolar Materials' returns are expected to increase less than the market. However, during the bear market, the loss of holding Gigasolar Materials is expected to be smaller as well. At this point, Gigasolar Materials has a negative expected return of -0.31%. Please make sure to check out Gigasolar Materials' market risk adjusted performance, coefficient of variation, information ratio, as well as the relationship between the mean deviation and standard deviation , to decide if Gigasolar Materials performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.15 |
Insignificant reverse predictability
Gigasolar Materials has insignificant reverse predictability. Overlapping area represents the amount of predictability between Gigasolar Materials time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th 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 Gigasolar Materials price movement. The serial correlation of -0.15 indicates that less than 15.0% of current Gigasolar Materials price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.15 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 1.11 |
Gigasolar Materials lagged returns against current returns
Autocorrelation, which is Gigasolar Materials 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 Gigasolar Materials' stock expected returns. We can calculate the autocorrelation of Gigasolar Materials returns to help us make a trade decision. For example, suppose you find that Gigasolar Materials 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 |
Gigasolar Materials 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 Gigasolar Materials stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Gigasolar Materials stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Gigasolar Materials stock over time.
Current vs Lagged Prices |
| Timeline |
Gigasolar Materials Lagged Returns
When evaluating Gigasolar Materials' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Gigasolar Materials stock have on its future price. Gigasolar Materials 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, Gigasolar Materials autocorrelation shows the relationship between Gigasolar Materials stock current value and its past values and can show if there is a momentum factor associated with investing in Gigasolar Materials.
Regressed Prices |
| Timeline |
Pair Trading with Gigasolar Materials
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 Gigasolar Materials 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 Gigasolar Materials will appreciate offsetting losses from the drop in the long position's value.Moving together with Gigasolar Stock
| 0.86 | 3576 | United Renewable Energy | PairCorr |
| 0.92 | 6443 | TSEC Corp | PairCorr |
| 0.73 | 6244 | Motech Industries | PairCorr |
| 0.96 | 4934 | Tainergy Tech | PairCorr |
Moving against Gigasolar Stock
| 0.89 | 2881A | Fubon Financial Holding | PairCorr |
| 0.79 | 2891B | CTBC Financial Holding | PairCorr |
| 0.79 | 2891 | CTBC Financial Holding | PairCorr |
| 0.77 | 2882B | Cathay Financial Holding | PairCorr |
| 0.49 | 2330 | Taiwan Semiconductor | PairCorr |
The ability to find closely correlated positions to Gigasolar Materials could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gigasolar Materials 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 Gigasolar Materials - 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 Gigasolar Materials to buy it.
The correlation of Gigasolar Materials 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 Gigasolar Materials moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gigasolar Materials 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 Gigasolar Materials 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 Gigasolar Stock Analysis
When running Gigasolar Materials' price analysis, check to measure Gigasolar Materials' 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 Gigasolar Materials is operating at the current time. Most of Gigasolar Materials' value examination focuses on studying past and present price action to predict the probability of Gigasolar Materials' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Gigasolar Materials' price. Additionally, you may evaluate how the addition of Gigasolar Materials to your portfolios can decrease your overall portfolio volatility.