CoAsia Microelectronics (Taiwan) Market Value
| 8096 Stock | TWD 69.50 2.00 2.80% |
| Symbol | CoAsia |
CoAsia Microelectronics '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 CoAsia Microelectronics' 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 CoAsia Microelectronics.
| 01/02/2025 |
| 03/03/2025 |
If you would invest 0.00 in CoAsia Microelectronics on January 2, 2025 and sell it all today you would earn a total of 0.00 from holding CoAsia Microelectronics or generate 0.0% return on investment in CoAsia Microelectronics over 60 days. CoAsia Microelectronics is related to or competes with WiseChip Semiconductor, Powerchip Semiconductor, Genovate Biotechnology, Niko Semiconductor, Universal Vision, WIN Semiconductors, and GeneFerm Biotechnology. CoAsia Electronics Corp. provides components for mobile multimedia in Taiwan, China, the United States, Southeast Asia, ... More
CoAsia Microelectronics 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 CoAsia Microelectronics' 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 CoAsia Microelectronics upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.6 | |||
| Information Ratio | 0.26 | |||
| Maximum Drawdown | 18.28 | |||
| Value At Risk | (5.59) | |||
| Potential Upside | 9.9 |
CoAsia Microelectronics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CoAsia Microelectronics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CoAsia Microelectronics' standard deviation. In reality, there are many statistical measures that can use CoAsia Microelectronics historical prices to predict the future CoAsia Microelectronics' volatility.| Risk Adjusted Performance | 0.1976 | |||
| Jensen Alpha | 1.12 | |||
| Total Risk Alpha | 1.25 | |||
| Sortino Ratio | 0.316 | |||
| Treynor Ratio | 2.99 |
CoAsia Microelectronics Backtested Returns
CoAsia Microelectronics is very steady given 3 months investment horizon. CoAsia Microelectronics retains Efficiency (Sharpe Ratio) of 0.26, which signifies that the company had a 0.26 % return per unit of risk over the last 3 months. We are able to interpolate and break down twenty-nine different technical indicators, which can help you to evaluate if expected returns of 1.13% are justified by taking the suggested risk. Use CoAsia Microelectronics market risk adjusted performance of 3.0, and Coefficient Of Variation of 389.02 to evaluate company specific risk that cannot be diversified away. CoAsia Microelectronics holds a performance score of 20 on a scale of zero to a hundred. The firm owns a Beta (Systematic Risk) of 0.37, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, CoAsia Microelectronics' returns are expected to increase less than the market. However, during the bear market, the loss of holding CoAsia Microelectronics is expected to be smaller as well. Use CoAsia Microelectronics mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to analyze future returns on CoAsia Microelectronics.
Auto-correlation | 0.12 |
Insignificant predictability
CoAsia Microelectronics has insignificant predictability. Overlapping area represents the amount of predictability between CoAsia Microelectronics time series from 2nd of January 2025 to 1st of February 2025 and 1st of February 2025 to 3rd of March 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 CoAsia Microelectronics price movement. The serial correlation of 0.12 indicates that less than 12.0% of current CoAsia Microelectronics price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | -0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 151.81 |
CoAsia Microelectronics lagged returns against current returns
Autocorrelation, which is CoAsia Microelectronics 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 CoAsia Microelectronics' stock expected returns. We can calculate the autocorrelation of CoAsia Microelectronics returns to help us make a trade decision. For example, suppose you find that CoAsia Microelectronics 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 |
CoAsia Microelectronics 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 CoAsia Microelectronics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CoAsia Microelectronics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CoAsia Microelectronics stock over time.
Current vs Lagged Prices |
| Timeline |
CoAsia Microelectronics Lagged Returns
When evaluating CoAsia Microelectronics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CoAsia Microelectronics stock have on its future price. CoAsia Microelectronics 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, CoAsia Microelectronics autocorrelation shows the relationship between CoAsia Microelectronics stock current value and its past values and can show if there is a momentum factor associated with investing in CoAsia Microelectronics.
Regressed Prices |
| Timeline |
Pair Trading with CoAsia Microelectronics
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 CoAsia Microelectronics 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 CoAsia Microelectronics will appreciate offsetting losses from the drop in the long position's value.Moving together with CoAsia Stock
Moving against CoAsia Stock
| 0.51 | 6223 | MPI Corporation | PairCorr |
| 0.4 | 5347 | Vanguard International | PairCorr |
| 0.38 | 2330 | Taiwan Semiconductor | PairCorr |
The ability to find closely correlated positions to CoAsia Microelectronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CoAsia Microelectronics 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 CoAsia Microelectronics - 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 CoAsia Microelectronics to buy it.
The correlation of CoAsia Microelectronics 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 CoAsia Microelectronics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CoAsia Microelectronics 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 CoAsia Microelectronics 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 CoAsia Stock Analysis
When running CoAsia Microelectronics' price analysis, check to measure CoAsia Microelectronics' 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 CoAsia Microelectronics is operating at the current time. Most of CoAsia Microelectronics' value examination focuses on studying past and present price action to predict the probability of CoAsia Microelectronics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move CoAsia Microelectronics' price. Additionally, you may evaluate how the addition of CoAsia Microelectronics to your portfolios can decrease your overall portfolio volatility.