Song Shang (Taiwan) Market Value
| 6156 Stock | TWD 27.85 0.25 0.89% |
| Symbol | Song |
Song Shang '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 Song Shang'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 Song Shang.
| 11/13/2024 |
| 12/13/2024 |
If you would invest 0.00 in Song Shang on November 13, 2024 and sell it all today you would earn a total of 0.00 from holding Song Shang Electronics or generate 0.0% return on investment in Song Shang over 30 days. Song Shang is related to or competes with ANJI Technology, Emerging Display, U Tech, Ruentex Development, WiseChip Semiconductor, Novatek Microelectronics, and Leader Electronics. Song Shang Electronics Co., Ltd. manufactures and sells magnetic components, printed circuit boards, and LED products More
Song Shang 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 Song Shang'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 Song Shang Electronics upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.68 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 19.95 | |||
| Value At Risk | (6.39) | |||
| Potential Upside | 8.86 |
Song Shang Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Song Shang's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Song Shang's standard deviation. In reality, there are many statistical measures that can use Song Shang historical prices to predict the future Song Shang's volatility.| Risk Adjusted Performance | 0.0125 | |||
| Jensen Alpha | 0.0199 | |||
| Total Risk Alpha | (0.53) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.22) |
Song Shang Electronics Backtested Returns
Song Shang Electronics owns Efficiency Ratio (i.e., Sharpe Ratio) of -2.0E-4, which indicates the firm had a -2.0E-4% return per unit of risk over the last 3 months. Song Shang Electronics exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Song Shang's Risk Adjusted Performance of 0.0125, coefficient of variation of 16494.12, and Semi Deviation of 3.44 to confirm the risk estimate we provide. The entity has a beta of -0.0627, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Song Shang are expected to decrease at a much lower rate. During the bear market, Song Shang is likely to outperform the market. At this point, Song Shang Electronics has a negative expected return of -7.0E-4%. Please make sure to validate Song Shang's downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Song Shang Electronics performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.82 |
Excellent reverse predictability
Song Shang Electronics has excellent reverse predictability. Overlapping area represents the amount of predictability between Song Shang time series from 13th of November 2024 to 28th of November 2024 and 28th of November 2024 to 13th 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 Song Shang Electronics price movement. The serial correlation of -0.82 indicates that around 82.0% of current Song Shang price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.82 | |
| Spearman Rank Test | -0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 0.19 |
Song Shang Electronics lagged returns against current returns
Autocorrelation, which is Song Shang 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 Song Shang's stock expected returns. We can calculate the autocorrelation of Song Shang returns to help us make a trade decision. For example, suppose you find that Song Shang 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 |
Song Shang 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 Song Shang stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Song Shang stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Song Shang stock over time.
Current vs Lagged Prices |
| Timeline |
Song Shang Lagged Returns
When evaluating Song Shang's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Song Shang stock have on its future price. Song Shang 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, Song Shang autocorrelation shows the relationship between Song Shang stock current value and its past values and can show if there is a momentum factor associated with investing in Song Shang Electronics.
Regressed Prices |
| Timeline |
Pair Trading with Song Shang
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 Song Shang 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 Song Shang will appreciate offsetting losses from the drop in the long position's value.Moving together with Song Stock
The ability to find closely correlated positions to Song Shang could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Song Shang 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 Song Shang - 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 Song Shang Electronics to buy it.
The correlation of Song Shang 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 Song Shang moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Song Shang Electronics 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 Song Shang 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 Song Stock Analysis
When running Song Shang's price analysis, check to measure Song Shang'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 Song Shang is operating at the current time. Most of Song Shang's value examination focuses on studying past and present price action to predict the probability of Song Shang's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Song Shang's price. Additionally, you may evaluate how the addition of Song Shang to your portfolios can decrease your overall portfolio volatility.