Shih Kuen (Taiwan) Market Value
| 4305 Stock | TWD 41.90 0.50 1.18% |
| Symbol | Shih |
Shih Kuen '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 Shih Kuen'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 Shih Kuen.
| 07/23/2024 |
| 12/20/2024 |
If you would invest 0.00 in Shih Kuen on July 23, 2024 and sell it all today you would earn a total of 0.00 from holding Shih Kuen Plastics or generate 0.0% return on investment in Shih Kuen over 150 days. Shih Kuen is related to or competes with Nankang Rubber, Yem Chio, Ocean Plastics, and Formosan Rubber. Shih-Kuen Plastics Co., Ltd. produces and supplies plastic sheets More
Shih Kuen 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 Shih Kuen'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 Shih Kuen Plastics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 6.09 | |||
| Value At Risk | (2.30) | |||
| Potential Upside | 1.75 |
Shih Kuen Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Shih Kuen's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Shih Kuen's standard deviation. In reality, there are many statistical measures that can use Shih Kuen historical prices to predict the future Shih Kuen's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.20) | |||
| Treynor Ratio | (1.79) |
Shih Kuen Plastics Backtested Returns
Shih Kuen Plastics owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.14, which indicates the firm had a -0.14% return per unit of risk over the last 3 months. Shih Kuen Plastics exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Shih Kuen's Coefficient Of Variation of (702.98), variance of 1.26, and Risk Adjusted Performance of (0.11) to confirm the risk estimate we provide. The entity has a beta of 0.0945, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Shih Kuen's returns are expected to increase less than the market. However, during the bear market, the loss of holding Shih Kuen is expected to be smaller as well. At this point, Shih Kuen Plastics has a negative expected return of -0.16%. Please make sure to validate Shih Kuen's mean deviation, standard deviation, information ratio, as well as the relationship between the coefficient of variation and variance , to decide if Shih Kuen Plastics performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.67 |
Very good reverse predictability
Shih Kuen Plastics has very good reverse predictability. Overlapping area represents the amount of predictability between Shih Kuen time series from 23rd of July 2024 to 6th of October 2024 and 6th of October 2024 to 20th 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 Shih Kuen Plastics price movement. The serial correlation of -0.67 indicates that around 67.0% of current Shih Kuen price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.67 | |
| Spearman Rank Test | -0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 3.07 |
Shih Kuen Plastics lagged returns against current returns
Autocorrelation, which is Shih Kuen 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 Shih Kuen's stock expected returns. We can calculate the autocorrelation of Shih Kuen returns to help us make a trade decision. For example, suppose you find that Shih Kuen 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 |
Shih Kuen 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 Shih Kuen stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Shih Kuen stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Shih Kuen stock over time.
Current vs Lagged Prices |
| Timeline |
Shih Kuen Lagged Returns
When evaluating Shih Kuen's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Shih Kuen stock have on its future price. Shih Kuen 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, Shih Kuen autocorrelation shows the relationship between Shih Kuen stock current value and its past values and can show if there is a momentum factor associated with investing in Shih Kuen Plastics.
Regressed Prices |
| Timeline |
Pair Trading with Shih Kuen
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 Shih Kuen 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 Shih Kuen will appreciate offsetting losses from the drop in the long position's value.Moving together with Shih Stock
Moving against Shih Stock
| 0.89 | 6510 | Chunghwa Precision Test | PairCorr |
| 0.84 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.8 | 6669 | Wiwynn Corp | PairCorr |
| 0.68 | 2357 | Asustek Computer | PairCorr |
| 0.59 | 2454 | MediaTek | PairCorr |
The ability to find closely correlated positions to Shih Kuen could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shih Kuen 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 Shih Kuen - 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 Shih Kuen Plastics to buy it.
The correlation of Shih Kuen 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 Shih Kuen moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shih Kuen Plastics 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 Shih Kuen 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 Shih Stock Analysis
When running Shih Kuen's price analysis, check to measure Shih Kuen'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 Shih Kuen is operating at the current time. Most of Shih Kuen's value examination focuses on studying past and present price action to predict the probability of Shih Kuen's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Shih Kuen's price. Additionally, you may evaluate how the addition of Shih Kuen to your portfolios can decrease your overall portfolio volatility.