Yungshin Construction (Taiwan) Market Value
| 5508 Stock | TWD 165.50 2.50 1.53% |
| Symbol | Yungshin |
Yungshin Construction '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 Yungshin Construction'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 Yungshin Construction.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Yungshin Construction on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Yungshin Construction Development or generate 0.0% return on investment in Yungshin Construction over 30 days. Yungshin Construction is related to or competes with MedFirst Healthcare, Excelsior Medical, CHC Healthcare, Grand Ocean, Chailease Holding, SS Healthcare, and Easywell Biomedicals. Yungshin Construction Development Co., Ltd More
Yungshin Construction 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 Yungshin Construction'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 Yungshin Construction Development upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.25) | |||
| Maximum Drawdown | 17.02 | |||
| Value At Risk | (8.64) | |||
| Potential Upside | 2.83 |
Yungshin Construction Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Yungshin Construction's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Yungshin Construction's standard deviation. In reality, there are many statistical measures that can use Yungshin Construction historical prices to predict the future Yungshin Construction's volatility.| Risk Adjusted Performance | (0.15) | |||
| Jensen Alpha | (0.69) | |||
| Total Risk Alpha | (1.13) | |||
| Treynor Ratio | (1.09) |
Yungshin Construction Backtested Returns
Yungshin Construction shows Sharpe Ratio of -0.24, which attests that the company had a -0.24% return per unit of risk over the last 3 months. Yungshin Construction exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Yungshin Construction's Standard Deviation of 3.05, mean deviation of 2.1, and Market Risk Adjusted Performance of (1.08) to validate the risk estimate we provide. The firm maintains a market beta of 0.57, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Yungshin Construction's returns are expected to increase less than the market. However, during the bear market, the loss of holding Yungshin Construction is expected to be smaller as well. At this point, Yungshin Construction has a negative expected return of -0.69%. Please make sure to check out Yungshin Construction's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Yungshin Construction performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.14 |
Insignificant predictability
Yungshin Construction Development has insignificant predictability. Overlapping area represents the amount of predictability between Yungshin Construction time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 Yungshin Construction price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Yungshin Construction price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.14 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 21.38 |
Yungshin Construction lagged returns against current returns
Autocorrelation, which is Yungshin Construction 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 Yungshin Construction's stock expected returns. We can calculate the autocorrelation of Yungshin Construction returns to help us make a trade decision. For example, suppose you find that Yungshin Construction 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 |
Yungshin Construction 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 Yungshin Construction stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Yungshin Construction stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Yungshin Construction stock over time.
Current vs Lagged Prices |
| Timeline |
Yungshin Construction Lagged Returns
When evaluating Yungshin Construction's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Yungshin Construction stock have on its future price. Yungshin Construction 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, Yungshin Construction autocorrelation shows the relationship between Yungshin Construction stock current value and its past values and can show if there is a momentum factor associated with investing in Yungshin Construction Development.
Regressed Prices |
| Timeline |
Pair Trading with Yungshin Construction
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 Yungshin Construction 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 Yungshin Construction will appreciate offsetting losses from the drop in the long position's value.Moving against Yungshin Stock
| 0.68 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.66 | 1442 | Advancetek Enterprise | PairCorr |
| 0.66 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.58 | 2545 | Huang Hsiang Construction | PairCorr |
| 0.55 | 0053 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Yungshin Construction could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Yungshin Construction 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 Yungshin Construction - 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 Yungshin Construction Development to buy it.
The correlation of Yungshin Construction 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 Yungshin Construction moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Yungshin Construction 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 Yungshin Construction 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 Yungshin Stock Analysis
When running Yungshin Construction's price analysis, check to measure Yungshin Construction'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 Yungshin Construction is operating at the current time. Most of Yungshin Construction's value examination focuses on studying past and present price action to predict the probability of Yungshin Construction's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Yungshin Construction's price. Additionally, you may evaluate how the addition of Yungshin Construction to your portfolios can decrease your overall portfolio volatility.