Horizon Securities (Taiwan) Market Value
| 6015 Stock | TWD 10.90 0.35 3.32% |
| Symbol | Horizon |
Horizon Securities '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 Horizon Securities' 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 Horizon Securities.
| 06/28/2024 |
| 12/25/2024 |
If you would invest 0.00 in Horizon Securities on June 28, 2024 and sell it all today you would earn a total of 0.00 from holding Horizon Securities Co or generate 0.0% return on investment in Horizon Securities over 180 days. Horizon Securities is related to or competes with Concord Securities, Capital Securities, Sinopac Financial, Inventec Corp, and China Development. Horizon Securities Co., Ltd. provides securities brokerage services in Taiwan More
Horizon Securities 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 Horizon Securities' 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 Horizon Securities Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 7.64 | |||
| Value At Risk | (2.16) | |||
| Potential Upside | 1.7 |
Horizon Securities Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Horizon Securities' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Horizon Securities' standard deviation. In reality, there are many statistical measures that can use Horizon Securities historical prices to predict the future Horizon Securities' volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.19) | |||
| Treynor Ratio | (0.40) |
Horizon Securities Backtested Returns
Horizon Securities holds Efficiency (Sharpe) Ratio of -0.1, which attests that the entity had a -0.1% return per unit of risk over the last 3 months. Horizon Securities exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Horizon Securities' Standard Deviation of 1.29, risk adjusted performance of (0.07), and Market Risk Adjusted Performance of (0.39) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.34, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Horizon Securities' returns are expected to increase less than the market. However, during the bear market, the loss of holding Horizon Securities is expected to be smaller as well. At this point, Horizon Securities has a negative expected return of -0.13%. Please make sure to check out Horizon Securities' total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Horizon Securities performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.04 |
Very weak reverse predictability
Horizon Securities Co has very weak reverse predictability. Overlapping area represents the amount of predictability between Horizon Securities time series from 28th of June 2024 to 26th of September 2024 and 26th of September 2024 to 25th 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 Horizon Securities price movement. The serial correlation of -0.04 indicates that only as little as 4.0% of current Horizon Securities price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.04 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.18 |
Horizon Securities lagged returns against current returns
Autocorrelation, which is Horizon Securities 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 Horizon Securities' stock expected returns. We can calculate the autocorrelation of Horizon Securities returns to help us make a trade decision. For example, suppose you find that Horizon Securities 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 |
Horizon Securities 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 Horizon Securities stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Horizon Securities stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Horizon Securities stock over time.
Current vs Lagged Prices |
| Timeline |
Horizon Securities Lagged Returns
When evaluating Horizon Securities' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Horizon Securities stock have on its future price. Horizon Securities 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, Horizon Securities autocorrelation shows the relationship between Horizon Securities stock current value and its past values and can show if there is a momentum factor associated with investing in Horizon Securities Co.
Regressed Prices |
| Timeline |
Pair Trading with Horizon Securities
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 Horizon Securities 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 Horizon Securities will appreciate offsetting losses from the drop in the long position's value.Moving against Horizon Stock
| 0.74 | 2454 | MediaTek | PairCorr |
| 0.64 | 6005 | Capital Securities Corp | PairCorr |
| 0.64 | 2891B | CTBC Financial Holding | PairCorr |
| 0.59 | 5269 | Asmedia Technology | PairCorr |
| 0.59 | 6669 | Wiwynn Corp | PairCorr |
The ability to find closely correlated positions to Horizon Securities could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Horizon Securities 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 Horizon Securities - 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 Horizon Securities Co to buy it.
The correlation of Horizon Securities 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 Horizon Securities moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Horizon Securities 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 Horizon Securities 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 Horizon Stock Analysis
When running Horizon Securities' price analysis, check to measure Horizon Securities' 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 Horizon Securities is operating at the current time. Most of Horizon Securities' value examination focuses on studying past and present price action to predict the probability of Horizon Securities' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Horizon Securities' price. Additionally, you may evaluate how the addition of Horizon Securities to your portfolios can decrease your overall portfolio volatility.