Kenda Rubber (Taiwan) Market Value
| 2106 Stock | TWD 29.95 0.10 0.34% |
| Symbol | Kenda |
Kenda Rubber '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 Kenda Rubber'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 Kenda Rubber.
| 06/22/2024 |
| 09/20/2024 |
If you would invest 0.00 in Kenda Rubber on June 22, 2024 and sell it all today you would earn a total of 0.00 from holding Kenda Rubber Industrial or generate 0.0% return on investment in Kenda Rubber over 90 days. Kenda Rubber is related to or competes with Cheng Shin, Nankang Rubber, Federal Corp, Yulon, and Formosan Rubber. It offers automotive, bicycle, wheelchair, power sport, and turftrailerspecialty tires More
Kenda Rubber 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 Kenda Rubber'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 Kenda Rubber Industrial upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 9.01 | |||
| Value At Risk | (1.45) | |||
| Potential Upside | 1.77 |
Kenda Rubber Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kenda Rubber's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kenda Rubber's standard deviation. In reality, there are many statistical measures that can use Kenda Rubber historical prices to predict the future Kenda Rubber's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.25) | |||
| Total Risk Alpha | (0.38) | |||
| Treynor Ratio | (0.34) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Kenda Rubber's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Kenda Rubber Industrial Backtested Returns
Kenda Rubber Industrial has Sharpe Ratio of -0.14, which conveys that the firm had a -0.14% return per unit of risk over the last 3 months. Kenda Rubber exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Kenda Rubber's Risk Adjusted Performance of (0.10), standard deviation of 1.33, and Mean Deviation of 0.8355 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.55, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Kenda Rubber's returns are expected to increase less than the market. However, during the bear market, the loss of holding Kenda Rubber is expected to be smaller as well. At this point, Kenda Rubber Industrial has a negative expected return of -0.19%. Please make sure to verify Kenda Rubber's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Kenda Rubber Industrial performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.74 |
Good predictability
Kenda Rubber Industrial has good predictability. Overlapping area represents the amount of predictability between Kenda Rubber time series from 22nd of June 2024 to 6th of August 2024 and 6th of August 2024 to 20th of September 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 Kenda Rubber Industrial price movement. The serial correlation of 0.74 indicates that around 74.0% of current Kenda Rubber price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.74 | |
| Spearman Rank Test | 0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 0.42 |
Kenda Rubber Industrial lagged returns against current returns
Autocorrelation, which is Kenda Rubber 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 Kenda Rubber's stock expected returns. We can calculate the autocorrelation of Kenda Rubber returns to help us make a trade decision. For example, suppose you find that Kenda Rubber 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 |
Kenda Rubber 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 Kenda Rubber stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kenda Rubber stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kenda Rubber stock over time.
Current vs Lagged Prices |
| Timeline |
Kenda Rubber Lagged Returns
When evaluating Kenda Rubber's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kenda Rubber stock have on its future price. Kenda Rubber 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, Kenda Rubber autocorrelation shows the relationship between Kenda Rubber stock current value and its past values and can show if there is a momentum factor associated with investing in Kenda Rubber Industrial.
Regressed Prices |
| Timeline |
Also Currently Popular
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 Kenda Stock Analysis
When running Kenda Rubber's price analysis, check to measure Kenda Rubber'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 Kenda Rubber is operating at the current time. Most of Kenda Rubber's value examination focuses on studying past and present price action to predict the probability of Kenda Rubber's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Kenda Rubber's price. Additionally, you may evaluate how the addition of Kenda Rubber to your portfolios can decrease your overall portfolio volatility.