Wafer Works (Taiwan) Market Value
| 6182 Stock | TWD 28.45 0.45 1.56% |
| Symbol | Wafer |
Wafer Works '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 Wafer Works' 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 Wafer Works.
| 12/23/2022 |
| 12/12/2024 |
If you would invest 0.00 in Wafer Works on December 23, 2022 and sell it all today you would earn a total of 0.00 from holding Wafer Works or generate 0.0% return on investment in Wafer Works over 720 days. Wafer Works is related to or competes with Sino American, GlobalWafers, Motech Industries, Formosa Sumco, and Unimicron Technology. More
Wafer Works 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 Wafer Works' 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 Wafer Works upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 9.74 | |||
| Value At Risk | (2.51) | |||
| Potential Upside | 2.42 |
Wafer Works Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wafer Works' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wafer Works' standard deviation. In reality, there are many statistical measures that can use Wafer Works historical prices to predict the future Wafer Works' volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.23) | |||
| Total Risk Alpha | (0.40) | |||
| Treynor Ratio | (0.20) |
Wafer Works Backtested Returns
Wafer Works shows Sharpe Ratio of -0.11, which attests that the company had a -0.11% return per unit of risk over the last 3 months. Wafer Works exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Wafer Works' Mean Deviation of 1.15, market risk adjusted performance of (0.19), and Standard Deviation of 1.6 to validate the risk estimate we provide. The firm maintains a market beta of 0.73, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Wafer Works' returns are expected to increase less than the market. However, during the bear market, the loss of holding Wafer Works is expected to be smaller as well. At this point, Wafer Works has a negative expected return of -0.18%. Please make sure to check out Wafer Works' market risk adjusted performance, coefficient of variation, information ratio, as well as the relationship between the mean deviation and standard deviation , to decide if Wafer Works performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.46 |
Modest reverse predictability
Wafer Works has modest reverse predictability. Overlapping area represents the amount of predictability between Wafer Works time series from 23rd of December 2022 to 18th of December 2023 and 18th of December 2023 to 12th 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 Wafer Works price movement. The serial correlation of -0.46 indicates that about 46.0% of current Wafer Works price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.46 | |
| Spearman Rank Test | -0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 17.75 |
Wafer Works lagged returns against current returns
Autocorrelation, which is Wafer Works 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 Wafer Works' stock expected returns. We can calculate the autocorrelation of Wafer Works returns to help us make a trade decision. For example, suppose you find that Wafer Works 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 |
Wafer Works 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 Wafer Works stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wafer Works stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wafer Works stock over time.
Current vs Lagged Prices |
| Timeline |
Wafer Works Lagged Returns
When evaluating Wafer Works' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wafer Works stock have on its future price. Wafer Works 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, Wafer Works autocorrelation shows the relationship between Wafer Works stock current value and its past values and can show if there is a momentum factor associated with investing in Wafer Works.
Regressed Prices |
| Timeline |
Pair Trading with Wafer Works
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 Wafer Works 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 Wafer Works will appreciate offsetting losses from the drop in the long position's value.Moving against Wafer Stock
| 0.66 | 3533 | Lotes | PairCorr |
| 0.63 | 2454 | MediaTek | PairCorr |
| 0.52 | 6669 | Wiwynn Corp | PairCorr |
| 0.48 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.42 | 0057 | Fubon MSCI Taiwan | PairCorr |
The ability to find closely correlated positions to Wafer Works could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wafer Works 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 Wafer Works - 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 Wafer Works to buy it.
The correlation of Wafer Works 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 Wafer Works moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wafer Works 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 Wafer Works 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 Wafer Stock Analysis
When running Wafer Works' price analysis, check to measure Wafer Works' 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 Wafer Works is operating at the current time. Most of Wafer Works' value examination focuses on studying past and present price action to predict the probability of Wafer Works' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Wafer Works' price. Additionally, you may evaluate how the addition of Wafer Works to your portfolios can decrease your overall portfolio volatility.