Sunfon Construction (Taiwan) Market Value
| 5514 Stock | TWD 19.70 0.20 1.01% |
| Symbol | Sunfon |
Sunfon Construction '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 Sunfon Construction'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 Sunfon Construction.
| 09/20/2024 |
| 12/19/2024 |
If you would invest 0.00 in Sunfon Construction on September 20, 2024 and sell it all today you would earn a total of 0.00 from holding Sunfon Construction Co or generate 0.0% return on investment in Sunfon Construction over 90 days. Sunfon Construction is related to or competes with Sino Horizon, Run Long, Chong Hong, JSL Construction, Delpha Construction, Yungshin Construction, and Kings Town. Sunfon Construction Co., Ltd. engages in the development, construction, and sale of public housing and commercial buildi... More
Sunfon Construction 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 Sunfon Construction'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 Sunfon Construction Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 5.35 | |||
| Value At Risk | (2.01) | |||
| Potential Upside | 0.9685 |
Sunfon Construction Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sunfon Construction's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sunfon Construction's standard deviation. In reality, there are many statistical measures that can use Sunfon Construction historical prices to predict the future Sunfon Construction's volatility.| Risk Adjusted Performance | (0.18) | |||
| Jensen Alpha | (0.22) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | (3.00) |
Sunfon Construction Backtested Returns
Sunfon Construction owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.21, which indicates the firm had a -0.21% return per unit of risk over the last 3 months. Sunfon Construction Co exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sunfon Construction's Coefficient Of Variation of (442.54), risk adjusted performance of (0.18), and Variance of 0.8658 to confirm the risk estimate we provide. The entity has a beta of 0.0733, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Sunfon Construction's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sunfon Construction is expected to be smaller as well. At this point, Sunfon Construction has a negative expected return of -0.2%. Please make sure to validate Sunfon Construction's standard deviation, information ratio, total risk alpha, as well as the relationship between the variance and jensen alpha , to decide if Sunfon Construction performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.80 |
Very good predictability
Sunfon Construction Co has very good predictability. Overlapping area represents the amount of predictability between Sunfon Construction time series from 20th of September 2024 to 4th of November 2024 and 4th of November 2024 to 19th 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 Sunfon Construction price movement. The serial correlation of 0.8 indicates that around 80.0% of current Sunfon Construction price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.8 | |
| Spearman Rank Test | 0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 0.1 |
Sunfon Construction lagged returns against current returns
Autocorrelation, which is Sunfon Construction 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 Sunfon Construction's stock expected returns. We can calculate the autocorrelation of Sunfon Construction returns to help us make a trade decision. For example, suppose you find that Sunfon Construction 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 |
Sunfon Construction 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 Sunfon Construction stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sunfon Construction stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sunfon Construction stock over time.
Current vs Lagged Prices |
| Timeline |
Sunfon Construction Lagged Returns
When evaluating Sunfon Construction's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sunfon Construction stock have on its future price. Sunfon Construction 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, Sunfon Construction autocorrelation shows the relationship between Sunfon Construction stock current value and its past values and can show if there is a momentum factor associated with investing in Sunfon Construction Co.
Regressed Prices |
| Timeline |
Pair Trading with Sunfon Construction
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 Sunfon Construction 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 Sunfon Construction will appreciate offsetting losses from the drop in the long position's value.Moving together with Sunfon Stock
| 0.66 | 2923 | Sino Horizon Holdings | PairCorr |
| 0.63 | 1808 | Run Long Construction Split | PairCorr |
| 0.87 | 5534 | Chong Hong Construction | PairCorr |
| 0.82 | 9940 | Sinyi Realty | PairCorr |
| 0.87 | 2540 | JSL Construction Dev | PairCorr |
Moving against Sunfon Stock
| 0.72 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.64 | 2534 | Hung Sheng Construction | PairCorr |
| 0.64 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.45 | 6811 | Acer E Enabling | PairCorr |
| 0.45 | 0053 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Sunfon Construction could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sunfon Construction 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 Sunfon Construction - 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 Sunfon Construction Co to buy it.
The correlation of Sunfon Construction 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 Sunfon Construction moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sunfon Construction 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 Sunfon Construction 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 Sunfon Stock Analysis
When running Sunfon Construction's price analysis, check to measure Sunfon Construction'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 Sunfon Construction is operating at the current time. Most of Sunfon Construction's value examination focuses on studying past and present price action to predict the probability of Sunfon Construction's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Sunfon Construction's price. Additionally, you may evaluate how the addition of Sunfon Construction to your portfolios can decrease your overall portfolio volatility.