Penpower Technology (Taiwan) Market Value
| 5211 Stock | TWD 26.75 0.05 0.19% |
| Symbol | Penpower |
Penpower Technology '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 Penpower Technology'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 Penpower Technology.
| 11/15/2024 |
| 12/15/2024 |
If you would invest 0.00 in Penpower Technology on November 15, 2024 and sell it all today you would earn a total of 0.00 from holding Penpower Technology or generate 0.0% return on investment in Penpower Technology over 30 days. Penpower Technology is related to or competes with Strong H, CHINA DEVELOPMENT, Sports Gear, Highwealth Construction, and Cathay Financial. Penpower Technology LTD. develops devices with built-in smart human-machine interface technologies in Taiwan and interna... More
Penpower Technology 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 Penpower Technology'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 Penpower Technology upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.83 | |||
| Information Ratio | 0.0253 | |||
| Maximum Drawdown | 16.18 | |||
| Value At Risk | (2.71) | |||
| Potential Upside | 4.23 |
Penpower Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Penpower Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Penpower Technology's standard deviation. In reality, there are many statistical measures that can use Penpower Technology historical prices to predict the future Penpower Technology's volatility.| Risk Adjusted Performance | 0.0556 | |||
| Jensen Alpha | 0.1558 | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | 0.0331 | |||
| Treynor Ratio | (2.64) |
Penpower Technology Backtested Returns
At this stage we consider Penpower Stock to be not too volatile. Penpower Technology maintains Sharpe Ratio (i.e., Efficiency) of 0.0517, which implies the firm had a 0.0517% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Penpower Technology, which you can use to evaluate the volatility of the company. Please check Penpower Technology's Risk Adjusted Performance of 0.0556, semi deviation of 1.57, and Coefficient Of Variation of 1490.65 to confirm if the risk estimate we provide is consistent with the expected return of 0.12%. Penpower Technology has a performance score of 4 on a scale of 0 to 100. The company holds a Beta of -0.0571, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Penpower Technology are expected to decrease at a much lower rate. During the bear market, Penpower Technology is likely to outperform the market. Penpower Technology right now holds a risk of 2.4%. Please check Penpower Technology downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Penpower Technology will be following its historical price patterns.
Auto-correlation | -0.34 |
Poor reverse predictability
Penpower Technology has poor reverse predictability. Overlapping area represents the amount of predictability between Penpower Technology 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 Penpower Technology price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current Penpower Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | -0.48 | |
| Residual Average | 0.0 | |
| Price Variance | 0.1 |
Penpower Technology lagged returns against current returns
Autocorrelation, which is Penpower Technology 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 Penpower Technology's stock expected returns. We can calculate the autocorrelation of Penpower Technology returns to help us make a trade decision. For example, suppose you find that Penpower Technology 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 |
Penpower Technology 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 Penpower Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Penpower Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Penpower Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Penpower Technology Lagged Returns
When evaluating Penpower Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Penpower Technology stock have on its future price. Penpower Technology 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, Penpower Technology autocorrelation shows the relationship between Penpower Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Penpower Technology.
Regressed Prices |
| Timeline |
Pair Trading with Penpower Technology
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 Penpower Technology 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 Penpower Technology will appreciate offsetting losses from the drop in the long position's value.Moving together with Penpower Stock
Moving against Penpower Stock
| 0.58 | 4702 | Allied Industrial | PairCorr |
| 0.56 | 4108 | Phytohealth Corp | PairCorr |
| 0.53 | 3206 | Kingstate Electronics | PairCorr |
| 0.39 | 8086 | Advanced Wireless | PairCorr |
The ability to find closely correlated positions to Penpower Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Penpower Technology 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 Penpower Technology - 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 Penpower Technology to buy it.
The correlation of Penpower Technology 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 Penpower Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Penpower Technology 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 Penpower Technology 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 Penpower Stock Analysis
When running Penpower Technology's price analysis, check to measure Penpower Technology'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 Penpower Technology is operating at the current time. Most of Penpower Technology's value examination focuses on studying past and present price action to predict the probability of Penpower Technology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Penpower Technology's price. Additionally, you may evaluate how the addition of Penpower Technology to your portfolios can decrease your overall portfolio volatility.