Onano Industrial (Taiwan) Market Value
| 6405 Stock | TWD 33.35 0.45 1.33% |
| Symbol | Onano |
Onano Industrial '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 Onano Industrial'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 Onano Industrial.
| 09/26/2024 |
| 12/25/2024 |
If you would invest 0.00 in Onano Industrial on September 26, 2024 and sell it all today you would earn a total of 0.00 from holding Onano Industrial Corp or generate 0.0% return on investment in Onano Industrial over 90 days. Onano Industrial is related to or competes with Sino American, Formosa Sumco, Radiant Opto, Faraday Technology, Tong Hsing, Topco Scientific, and Elan Microelectronics. Onano Industrial Corp. provides opto-electronic glass slimming products in Taiwan More
Onano Industrial 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 Onano Industrial'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 Onano Industrial Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 19.92 | |||
| Value At Risk | (6.26) | |||
| Potential Upside | 9.95 |
Onano Industrial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Onano Industrial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Onano Industrial's standard deviation. In reality, there are many statistical measures that can use Onano Industrial historical prices to predict the future Onano Industrial's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.28) | |||
| Total Risk Alpha | (0.48) | |||
| Treynor Ratio | 0.9452 |
Onano Industrial Corp Backtested Returns
Onano Industrial Corp maintains Sharpe Ratio (i.e., Efficiency) of -0.0576, which implies the firm had a -0.0576% return per unit of risk over the last 3 months. Onano Industrial Corp exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Onano Industrial's Risk Adjusted Performance of (0.05), coefficient of variation of (1,505), and Variance of 18.05 to confirm the risk estimate we provide. The company holds a Beta of -0.31, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Onano Industrial are expected to decrease at a much lower rate. During the bear market, Onano Industrial is likely to outperform the market. At this point, Onano Industrial Corp has a negative expected return of -0.25%. Please make sure to check Onano Industrial's standard deviation, jensen alpha, and the relationship between the coefficient of variation and information ratio , to decide if Onano Industrial Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.69 |
Very good reverse predictability
Onano Industrial Corp has very good reverse predictability. Overlapping area represents the amount of predictability between Onano Industrial time series from 26th of September 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Onano Industrial Corp price movement. The serial correlation of -0.69 indicates that around 69.0% of current Onano Industrial price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.69 | |
| Spearman Rank Test | -0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 22.75 |
Onano Industrial Corp lagged returns against current returns
Autocorrelation, which is Onano Industrial 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 Onano Industrial's stock expected returns. We can calculate the autocorrelation of Onano Industrial returns to help us make a trade decision. For example, suppose you find that Onano Industrial 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 |
Onano Industrial 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 Onano Industrial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Onano Industrial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Onano Industrial stock over time.
Current vs Lagged Prices |
| Timeline |
Onano Industrial Lagged Returns
When evaluating Onano Industrial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Onano Industrial stock have on its future price. Onano Industrial 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, Onano Industrial autocorrelation shows the relationship between Onano Industrial stock current value and its past values and can show if there is a momentum factor associated with investing in Onano Industrial Corp.
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 Onano Stock Analysis
When running Onano Industrial's price analysis, check to measure Onano Industrial'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 Onano Industrial is operating at the current time. Most of Onano Industrial's value examination focuses on studying past and present price action to predict the probability of Onano Industrial's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Onano Industrial's price. Additionally, you may evaluate how the addition of Onano Industrial to your portfolios can decrease your overall portfolio volatility.