Planet Technology (Taiwan) Market Value
| 6263 Stock | TWD 153.00 1.50 0.97% |
| Symbol | Planet |
Planet Technology '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 Planet Technology'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 Planet Technology.
| 11/15/2024 |
| 12/15/2024 |
If you would invest 0.00 in Planet Technology on November 15, 2024 and sell it all today you would earn a total of 0.00 from holding Planet Technology or generate 0.0% return on investment in Planet Technology over 30 days. Planet Technology is related to or competes with Vanguard International, Taiwan Semiconductor, Advanced Wireless, Mospec Semiconductor, Hunya Foods, Standard Foods, and Powerchip Semiconductor. Planet Technology Corporation provides IP-based networking products and solutions for small-to-medium-sized businesses, ... More
Planet Technology 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 Planet Technology'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 Planet Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 10.03 | |||
| Value At Risk | (2.48) | |||
| Potential Upside | 2.21 |
Planet Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Planet Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Planet Technology's standard deviation. In reality, there are many statistical measures that can use Planet Technology historical prices to predict the future Planet Technology's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.31) | |||
| Treynor Ratio | (0.24) |
Planet Technology Backtested Returns
Planet Technology maintains Sharpe Ratio (i.e., Efficiency) of -0.13, which implies the firm had a -0.13% return per unit of risk over the last 3 months. Planet Technology exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Planet Technology's Risk Adjusted Performance of (0.03), coefficient of variation of (2,119), and Variance of 2.98 to confirm the risk estimate we provide. The company holds a Beta of 0.39, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Planet Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Planet Technology is expected to be smaller as well. At this point, Planet Technology has a negative expected return of -0.19%. Please make sure to check Planet Technology's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Planet Technology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.67 |
Good predictability
Planet Technology has good predictability. Overlapping area represents the amount of predictability between Planet Technology time series from 15th of November 2024 to 30th of November 2024 and 30th of November 2024 to 15th 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 Planet Technology price movement. The serial correlation of 0.67 indicates that around 67.0% of current Planet Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 14.79 |
Planet Technology lagged returns against current returns
Autocorrelation, which is Planet Technology 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 Planet Technology's stock expected returns. We can calculate the autocorrelation of Planet Technology returns to help us make a trade decision. For example, suppose you find that Planet Technology 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 |
Planet Technology 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 Planet Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Planet Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Planet Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Planet Technology Lagged Returns
When evaluating Planet Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Planet Technology stock have on its future price. Planet Technology 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, Planet Technology autocorrelation shows the relationship between Planet Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Planet Technology.
Regressed Prices |
| Timeline |
Pair Trading with Planet Technology
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 Planet Technology 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 Planet Technology will appreciate offsetting losses from the drop in the long position's value.Moving against Planet Stock
| 0.7 | 2345 | Accton Technology Corp | PairCorr |
| 0.67 | 3596 | Arcadyan Technology Corp | PairCorr |
| 0.53 | 3704 | Unizyx Holding Corp | PairCorr |
| 0.51 | 3558 | Senao Networks | PairCorr |
| 0.46 | 0050 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Planet Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Planet Technology 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 Planet Technology - 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 Planet Technology to buy it.
The correlation of Planet Technology 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 Planet Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Planet Technology 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 Planet Technology 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 Planet Stock Analysis
When running Planet Technology's price analysis, check to measure Planet Technology'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 Planet Technology is operating at the current time. Most of Planet Technology's value examination focuses on studying past and present price action to predict the probability of Planet Technology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Planet Technology's price. Additionally, you may evaluate how the addition of Planet Technology to your portfolios can decrease your overall portfolio volatility.