Saigon Machinery (Vietnam) Market Value
| SMA Stock | 11,400 500.00 4.59% |
| Symbol | Saigon |
Saigon Machinery '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 Saigon Machinery'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 Saigon Machinery.
| 11/22/2024 |
| 12/22/2024 |
If you would invest 0.00 in Saigon Machinery on November 22, 2024 and sell it all today you would earn a total of 0.00 from holding Saigon Machinery Spare or generate 0.0% return on investment in Saigon Machinery over 30 days. Saigon Machinery is related to or competes with Petrolimex Petrochemical, Song Hong, Riverway Management, Kien Giang, Petrolimex Insurance, Binh Duong, and Viettel Construction. More
Saigon Machinery 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 Saigon Machinery'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 Saigon Machinery Spare upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.68 | |||
| Information Ratio | 0.0944 | |||
| Maximum Drawdown | 17.42 | |||
| Value At Risk | (6.80) | |||
| Potential Upside | 6.96 |
Saigon Machinery Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Saigon Machinery's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Saigon Machinery's standard deviation. In reality, there are many statistical measures that can use Saigon Machinery historical prices to predict the future Saigon Machinery's volatility.| Risk Adjusted Performance | 0.0893 | |||
| Jensen Alpha | 0.3891 | |||
| Total Risk Alpha | 0.2825 | |||
| Sortino Ratio | 0.0651 | |||
| Treynor Ratio | 2.68 |
Saigon Machinery Spare Backtested Returns
Saigon Machinery appears to be very steady, given 3 months investment horizon. Saigon Machinery Spare owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.12, which indicates the firm had a 0.12% return per unit of risk over the last 3 months. By inspecting Saigon Machinery's technical indicators, you can evaluate if the expected return of 0.54% is justified by implied risk. Please review Saigon Machinery's Semi Deviation of 3.17, coefficient of variation of 974.58, and Risk Adjusted Performance of 0.0893 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Saigon Machinery holds a performance score of 9. The entity has a beta of 0.15, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Saigon Machinery's returns are expected to increase less than the market. However, during the bear market, the loss of holding Saigon Machinery is expected to be smaller as well. Please check Saigon Machinery's sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to make a quick decision on whether Saigon Machinery's existing price patterns will revert.
Auto-correlation | 0.65 |
Good predictability
Saigon Machinery Spare has good predictability. Overlapping area represents the amount of predictability between Saigon Machinery time series from 22nd of November 2024 to 7th of December 2024 and 7th of December 2024 to 22nd 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 Saigon Machinery Spare price movement. The serial correlation of 0.65 indicates that roughly 65.0% of current Saigon Machinery price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.65 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 55.6 K |
Saigon Machinery Spare lagged returns against current returns
Autocorrelation, which is Saigon Machinery 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 Saigon Machinery's stock expected returns. We can calculate the autocorrelation of Saigon Machinery returns to help us make a trade decision. For example, suppose you find that Saigon Machinery 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 |
Saigon Machinery 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 Saigon Machinery stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Saigon Machinery stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Saigon Machinery stock over time.
Current vs Lagged Prices |
| Timeline |
Saigon Machinery Lagged Returns
When evaluating Saigon Machinery's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Saigon Machinery stock have on its future price. Saigon Machinery 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, Saigon Machinery autocorrelation shows the relationship between Saigon Machinery stock current value and its past values and can show if there is a momentum factor associated with investing in Saigon Machinery Spare.
Regressed Prices |
| Timeline |
Pair Trading with Saigon Machinery
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 Saigon Machinery 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 Saigon Machinery will appreciate offsetting losses from the drop in the long position's value.Moving against Saigon Stock
| 0.71 | AME | Alphanam ME | PairCorr |
| 0.71 | ABT | Bentre Aquaproduct Import | PairCorr |
| 0.64 | ADS | Damsan JSC | PairCorr |
| 0.64 | AAA | An Phat Plastic | PairCorr |
| 0.57 | APG | APG Securities Joint | PairCorr |
The ability to find closely correlated positions to Saigon Machinery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Saigon Machinery 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 Saigon Machinery - 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 Saigon Machinery Spare to buy it.
The correlation of Saigon Machinery 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 Saigon Machinery moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Saigon Machinery Spare 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 Saigon Machinery 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.Other Information on Investing in Saigon Stock
Saigon Machinery financial ratios help investors to determine whether Saigon Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Saigon with respect to the benefits of owning Saigon Machinery security.