Xxentria Technology (Taiwan) Market Value
| 8942 Stock | TWD 54.70 0.20 0.36% |
| Symbol | Xxentria |
Xxentria 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 Xxentria 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 Xxentria Technology.
| 12/31/2022 |
| 12/20/2024 |
If you would invest 0.00 in Xxentria Technology on December 31, 2022 and sell it all today you would earn a total of 0.00 from holding Xxentria Technology Materials or generate 0.0% return on investment in Xxentria Technology over 720 days. Xxentria Technology is related to or competes with Hota Industrial, Macauto Industrial, Actron Technology, and Taiwan Fu. Xxentria Technology Materials Co., Ltd. manufactures and sells metal composite materials worldwide More
Xxentria 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 Xxentria 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 Xxentria Technology Materials upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 5.08 | |||
| Value At Risk | (1.78) | |||
| Potential Upside | 1.25 |
Xxentria Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Xxentria Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Xxentria Technology's standard deviation. In reality, there are many statistical measures that can use Xxentria Technology historical prices to predict the future Xxentria Technology's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.14) | |||
| Treynor Ratio | 1.92 |
Xxentria Technology Backtested Returns
Xxentria Technology shows Sharpe Ratio of -0.14, which attests that the company had a -0.14% return per unit of risk over the last 3 months. Xxentria Technology exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Xxentria Technology's Market Risk Adjusted Performance of 1.93, mean deviation of 0.6501, and Standard Deviation of 0.9144 to validate the risk estimate we provide. The firm maintains a market beta of -0.0609, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Xxentria Technology are expected to decrease at a much lower rate. During the bear market, Xxentria Technology is likely to outperform the market. At this point, Xxentria Technology has a negative expected return of -0.13%. Please make sure to check out Xxentria Technology's market risk adjusted performance, coefficient of variation, information ratio, as well as the relationship between the mean deviation and standard deviation , to decide if Xxentria Technology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.05 |
Virtually no predictability
Xxentria Technology Materials has virtually no predictability. Overlapping area represents the amount of predictability between Xxentria Technology time series from 31st of December 2022 to 26th of December 2023 and 26th of December 2023 to 20th 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 Xxentria Technology price movement. The serial correlation of 0.05 indicates that only as little as 5.0% of current Xxentria Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.05 | |
| Spearman Rank Test | -0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 8.31 |
Xxentria Technology lagged returns against current returns
Autocorrelation, which is Xxentria 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 Xxentria Technology's stock expected returns. We can calculate the autocorrelation of Xxentria Technology returns to help us make a trade decision. For example, suppose you find that Xxentria 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 |
Xxentria 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 Xxentria Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Xxentria Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Xxentria Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Xxentria Technology Lagged Returns
When evaluating Xxentria Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Xxentria Technology stock have on its future price. Xxentria 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, Xxentria Technology autocorrelation shows the relationship between Xxentria Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Xxentria Technology Materials.
Regressed Prices |
| Timeline |
Pair Trading with Xxentria 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 Xxentria 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 Xxentria Technology will appreciate offsetting losses from the drop in the long position's value.Moving against Xxentria Stock
| 0.66 | 4558 | ALFORMER Industrial | PairCorr |
| 0.59 | 3443 | Global Unichip Corp | PairCorr |
| 0.54 | 6175 | Liton Technology | PairCorr |
| 0.49 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.42 | 0057 | Fubon MSCI Taiwan | PairCorr |
The ability to find closely correlated positions to Xxentria 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 Xxentria 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 Xxentria 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 Xxentria Technology Materials to buy it.
The correlation of Xxentria 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 Xxentria Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Xxentria 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 Xxentria 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 Xxentria Stock Analysis
When running Xxentria Technology's price analysis, check to measure Xxentria 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 Xxentria Technology is operating at the current time. Most of Xxentria Technology's value examination focuses on studying past and present price action to predict the probability of Xxentria 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 Xxentria Technology's price. Additionally, you may evaluate how the addition of Xxentria Technology to your portfolios can decrease your overall portfolio volatility.