Kenda Rubber (Taiwan) Market Value
| 2106 Stock | TWD 35.05 1.25 3.70% |
| 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.
| 04/22/2024 |
| 05/22/2024 |
If you would invest 0.00 in Kenda Rubber on April 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 30 days. Kenda Rubber is related to or competes with Chaintech Technology, AVerMedia Technologies, Avision, Clevo, and Elitegroup Computer. 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.
| Downside Deviation | 1.05 | |||
| Information Ratio | 0.0839 | |||
| Maximum Drawdown | 6.36 | |||
| Value At Risk | (1.43) | |||
| Potential Upside | 1.93 |
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 | 0.0929 | |||
| Jensen Alpha | 0.1998 | |||
| Total Risk Alpha | 0.0253 | |||
| Sortino Ratio | 0.0922 | |||
| Treynor Ratio | (0.36) |
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 appears to be very steady, given 3 months investment horizon. Kenda Rubber Industrial has Sharpe Ratio of 0.2, which conveys that the firm had a 0.2% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Kenda Rubber, which you can use to evaluate the volatility of the firm. Please exercise Kenda Rubber's Mean Deviation of 0.8804, risk adjusted performance of 0.0929, and Downside Deviation of 1.05 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Kenda Rubber holds a performance score of 15. The company secures a Beta (Market Risk) of -0.46, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Kenda Rubber are expected to decrease at a much lower rate. During the bear market, Kenda Rubber is likely to outperform the market. Please check Kenda Rubber's downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Kenda Rubber's current price movements will revert.
Auto-correlation | -0.1 |
Very weak reverse predictability
Kenda Rubber Industrial has very weak reverse predictability. Overlapping area represents the amount of predictability between Kenda Rubber time series from 22nd of April 2024 to 7th of May 2024 and 7th of May 2024 to 22nd of May 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 -0.1 indicates that less than 10.0% of current Kenda Rubber price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.1 | |
| Spearman Rank Test | 0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 0.39 |
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.Check out Kenda Rubber Correlation, Kenda Rubber Volatility and Kenda Rubber Alpha and Beta module to complement your research on Kenda Rubber. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Complementary 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.
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Kenda Rubber technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.