Para Light (Taiwan) Market Value
| 6226 Stock | TWD 8.99 0.05 0.55% |
| Symbol | Para |
Para Light '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 Para Light'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 Para Light.
| 07/02/2024 |
| 12/29/2024 |
If you would invest 0.00 in Para Light on July 2, 2024 and sell it all today you would earn a total of 0.00 from holding Para Light Electronics or generate 0.0% return on investment in Para Light over 180 days. Para Light is related to or competes with Century Wind, Green World, Ingentec, and Chaheng Precision. Para Light Electronics Co., Ltd. provides lighting solutions and opto-electronic components for industrial, commercial, ... More
Para Light 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 Para Light'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 Para Light Electronics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 6.96 | |||
| Value At Risk | (1.98) | |||
| Potential Upside | 2.44 |
Para Light Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Para Light's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Para Light's standard deviation. In reality, there are many statistical measures that can use Para Light historical prices to predict the future Para Light's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.19) | |||
| Treynor Ratio | 2.12 |
Para Light Electronics Backtested Returns
Para Light Electronics maintains Sharpe Ratio (i.e., Efficiency) of -0.098, which implies the firm had a -0.098% return per unit of risk over the last 3 months. Para Light Electronics exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Para Light's Variance of 1.61, coefficient of variation of (897.29), and Risk Adjusted Performance of (0.09) to confirm the risk estimate we provide. The company holds a Beta of -0.0712, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Para Light are expected to decrease at a much lower rate. During the bear market, Para Light is likely to outperform the market. At this point, Para Light Electronics has a negative expected return of -0.12%. Please make sure to check Para Light's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Para Light Electronics performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.44 |
Average predictability
Para Light Electronics has average predictability. Overlapping area represents the amount of predictability between Para Light time series from 2nd of July 2024 to 30th of September 2024 and 30th of September 2024 to 29th 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 Para Light Electronics price movement. The serial correlation of 0.44 indicates that just about 44.0% of current Para Light price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.44 | |
| Spearman Rank Test | 0.33 | |
| Residual Average | 0.0 | |
| Price Variance | 0.15 |
Para Light Electronics lagged returns against current returns
Autocorrelation, which is Para Light 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 Para Light's stock expected returns. We can calculate the autocorrelation of Para Light returns to help us make a trade decision. For example, suppose you find that Para Light 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 |
Para Light 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 Para Light stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Para Light stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Para Light stock over time.
Current vs Lagged Prices |
| Timeline |
Para Light Lagged Returns
When evaluating Para Light's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Para Light stock have on its future price. Para Light 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, Para Light autocorrelation shows the relationship between Para Light stock current value and its past values and can show if there is a momentum factor associated with investing in Para Light Electronics.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Para Stock Analysis
When running Para Light's price analysis, check to measure Para Light'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 Para Light is operating at the current time. Most of Para Light's value examination focuses on studying past and present price action to predict the probability of Para Light's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Para Light's price. Additionally, you may evaluate how the addition of Para Light to your portfolios can decrease your overall portfolio volatility.