PlayNitride (Taiwan) Market Value
| 6854 Stock | 168.00 3.00 1.82% |
| Symbol | PlayNitride |
PlayNitride '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 PlayNitride'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 PlayNitride.
| 06/17/2024 |
| 12/14/2024 |
If you would invest 0.00 in PlayNitride on June 17, 2024 and sell it all today you would earn a total of 0.00 from holding PlayNitride or generate 0.0% return on investment in PlayNitride over 180 days.
PlayNitride 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 PlayNitride'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 PlayNitride upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.91 | |||
| Information Ratio | 0.2605 | |||
| Maximum Drawdown | 20.0 | |||
| Value At Risk | (5.95) | |||
| Potential Upside | 9.92 |
PlayNitride Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PlayNitride's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PlayNitride's standard deviation. In reality, there are many statistical measures that can use PlayNitride historical prices to predict the future PlayNitride's volatility.| Risk Adjusted Performance | 0.2126 | |||
| Jensen Alpha | 1.26 | |||
| Total Risk Alpha | 0.738 | |||
| Sortino Ratio | 0.3169 | |||
| Treynor Ratio | 1.8 |
PlayNitride Backtested Returns
PlayNitride is very steady given 3 months investment horizon. PlayNitride maintains Sharpe Ratio (i.e., Efficiency) of 0.25, which implies the firm had a 0.25% return per unit of risk over the last 3 months. We are able to interpolate and break down twenty-eight different technical indicators, which can help you to evaluate if expected returns of 1.17% are justified by taking the suggested risk. Use PlayNitride Semi Deviation of 3.13, risk adjusted performance of 0.2126, and Coefficient Of Variation of 355.15 to evaluate company specific risk that cannot be diversified away. PlayNitride holds a performance score of 19 on a scale of zero to a hundred. The company holds a Beta of 0.74, which implies possible diversification benefits within a given portfolio. As returns on the market increase, PlayNitride's returns are expected to increase less than the market. However, during the bear market, the loss of holding PlayNitride is expected to be smaller as well. Use PlayNitride downside deviation, information ratio, and the relationship between the semi deviation and coefficient of variation , to analyze future returns on PlayNitride.
Auto-correlation | -0.33 |
Poor reverse predictability
PlayNitride has poor reverse predictability. Overlapping area represents the amount of predictability between PlayNitride time series from 17th of June 2024 to 15th of September 2024 and 15th of September 2024 to 14th 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 PlayNitride price movement. The serial correlation of -0.33 indicates that nearly 33.0% of current PlayNitride price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.33 | |
| Spearman Rank Test | -0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 703.52 |
PlayNitride lagged returns against current returns
Autocorrelation, which is PlayNitride 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 PlayNitride's stock expected returns. We can calculate the autocorrelation of PlayNitride returns to help us make a trade decision. For example, suppose you find that PlayNitride 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 |
PlayNitride 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 PlayNitride stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PlayNitride stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PlayNitride stock over time.
Current vs Lagged Prices |
| Timeline |
PlayNitride Lagged Returns
When evaluating PlayNitride's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PlayNitride stock have on its future price. PlayNitride 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, PlayNitride autocorrelation shows the relationship between PlayNitride stock current value and its past values and can show if there is a momentum factor associated with investing in PlayNitride.
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 PlayNitride Stock Analysis
When running PlayNitride's price analysis, check to measure PlayNitride'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 PlayNitride is operating at the current time. Most of PlayNitride's value examination focuses on studying past and present price action to predict the probability of PlayNitride's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move PlayNitride's price. Additionally, you may evaluate how the addition of PlayNitride to your portfolios can decrease your overall portfolio volatility.