Sung Gang (Taiwan) Market Value
| 6240 Stock | TWD 20.35 0.75 3.55% |
| Symbol | Sung |
Sung Gang '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 Sung Gang'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 Sung Gang.
| 11/05/2024 |
| 01/04/2025 |
If you would invest 0.00 in Sung Gang on November 5, 2024 and sell it all today you would earn a total of 0.00 from holding Sung Gang Asset or generate 0.0% return on investment in Sung Gang over 60 days. Sung Gang is related to or competes with Tai Tung, Cameo Communications, Chinese Maritime, and TWOWAY Communications. Sung Gang Asset Management Corp.Limited primarily provides various IT books in Taiwan More
Sung Gang 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 Sung Gang'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 Sung Gang Asset upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 19.05 | |||
| Value At Risk | (4.90) | |||
| Potential Upside | 6.35 |
Sung Gang Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sung Gang's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sung Gang's standard deviation. In reality, there are many statistical measures that can use Sung Gang historical prices to predict the future Sung Gang's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | (0.77) |
Sung Gang Asset Backtested Returns
Sung Gang Asset owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0477, which indicates the firm had a -0.0477% return per unit of risk over the last 3 months. Sung Gang Asset exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sung Gang's Variance of 10.42, coefficient of variation of (1,795), and Risk Adjusted Performance of (0.04) to confirm the risk estimate we provide. The entity has a beta of 0.25, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Sung Gang's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sung Gang is expected to be smaller as well. At this point, Sung Gang Asset has a negative expected return of -0.16%. Please make sure to validate Sung Gang's standard deviation, information ratio, total risk alpha, as well as the relationship between the variance and jensen alpha , to decide if Sung Gang Asset performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.44 |
Average predictability
Sung Gang Asset has average predictability. Overlapping area represents the amount of predictability between Sung Gang time series from 5th of November 2024 to 5th of December 2024 and 5th of December 2024 to 4th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Sung Gang Asset price movement. The serial correlation of 0.44 indicates that just about 44.0% of current Sung Gang price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.44 | |
| Spearman Rank Test | 0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.1 |
Sung Gang Asset lagged returns against current returns
Autocorrelation, which is Sung Gang 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 Sung Gang's stock expected returns. We can calculate the autocorrelation of Sung Gang returns to help us make a trade decision. For example, suppose you find that Sung Gang 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 |
Sung Gang 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 Sung Gang stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sung Gang stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sung Gang stock over time.
Current vs Lagged Prices |
| Timeline |
Sung Gang Lagged Returns
When evaluating Sung Gang's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sung Gang stock have on its future price. Sung Gang 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, Sung Gang autocorrelation shows the relationship between Sung Gang stock current value and its past values and can show if there is a momentum factor associated with investing in Sung Gang Asset.
Regressed Prices |
| Timeline |
Pair Trading with Sung Gang
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 Sung Gang 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 Sung Gang will appreciate offsetting losses from the drop in the long position's value.Moving together with Sung Stock
Moving against Sung Stock
| 0.81 | 3702A | WPG Holdings | PairCorr |
| 0.68 | 2882B | Cathay Financial Holding | PairCorr |
| 0.57 | 2324 | Compal Electronics | PairCorr |
| 0.47 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.34 | 0050 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Sung Gang could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sung Gang 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 Sung Gang - 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 Sung Gang Asset to buy it.
The correlation of Sung Gang 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 Sung Gang moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sung Gang Asset 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 Sung Gang 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 Sung Stock Analysis
When running Sung Gang's price analysis, check to measure Sung Gang'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 Sung Gang is operating at the current time. Most of Sung Gang's value examination focuses on studying past and present price action to predict the probability of Sung Gang's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Sung Gang's price. Additionally, you may evaluate how the addition of Sung Gang to your portfolios can decrease your overall portfolio volatility.