Ase Industrial Holding Stock Market Value
| ASX Stock | USD 10.33 0.23 2.28% |
| Symbol | ASE |
ASE Industrial Holding Price To Book Ratio
Is ASE Industrial's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of ASE Industrial. If investors know ASE will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about ASE Industrial listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.02) | Earnings Share 0.49 | Revenue Per Share 271.252 | Quarterly Revenue Growth 0.015 | Return On Assets 0.037 |
The market value of ASE Industrial Holding is measured differently than its book value, which is the value of ASE that is recorded on the company's balance sheet. Investors also form their own opinion of ASE Industrial's value that differs from its market value or its book value, called intrinsic value, which is ASE Industrial's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ASE Industrial's market value can be influenced by many factors that don't directly affect ASE Industrial's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ASE Industrial's value and its price as these two are different measures arrived at by different means. Investors typically determine if ASE Industrial is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ASE Industrial's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
ASE Industrial '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 ASE Industrial'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 ASE Industrial.
| 03/01/2024 |
| 04/30/2024 |
If you would invest 0.00 in ASE Industrial on March 1, 2024 and sell it all today you would earn a total of 0.00 from holding ASE Industrial Holding or generate 0.0% return on investment in ASE Industrial over 60 days. ASE Industrial is related to or competes with Sunrun, and Sunnova Energy. ASE Technology Holding Co., Ltd. provides a range of semiconductors packaging and testing, and electronic manufacturing ... More
ASE Industrial 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 ASE Industrial'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 ASE Industrial Holding upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.78 | |||
| Information Ratio | 0.0109 | |||
| Maximum Drawdown | 13.67 | |||
| Value At Risk | (2.64) | |||
| Potential Upside | 3.37 |
ASE Industrial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ASE Industrial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ASE Industrial's standard deviation. In reality, there are many statistical measures that can use ASE Industrial historical prices to predict the future ASE Industrial's volatility.| Risk Adjusted Performance | 0.0391 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | 0.0136 | |||
| Treynor Ratio | 0.064 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ASE Industrial'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.
ASE Industrial Holding Backtested Returns
ASE Industrial appears to be not too volatile, given 3 months investment horizon. ASE Industrial Holding secures Sharpe Ratio (or Efficiency) of 0.0863, which signifies that the company had a 0.0863% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for ASE Industrial Holding, which you can use to evaluate the volatility of the firm. Please makes use of ASE Industrial's Mean Deviation of 1.67, risk adjusted performance of 0.0391, and Downside Deviation of 1.78 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, ASE Industrial holds a performance score of 6. The firm shows a Beta (market volatility) of 1.61, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, ASE Industrial will likely underperform. Please check ASE Industrial's potential upside, and the relationship between the jensen alpha and accumulation distribution , to make a quick decision on whether ASE Industrial's price patterns will revert.
Auto-correlation | -0.2 |
Insignificant reverse predictability
ASE Industrial Holding has insignificant reverse predictability. Overlapping area represents the amount of predictability between ASE Industrial time series from 1st of March 2024 to 31st of March 2024 and 31st of March 2024 to 30th of April 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 ASE Industrial Holding price movement. The serial correlation of -0.2 indicates that over 20.0% of current ASE Industrial price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.2 | |
| Spearman Rank Test | -0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 0.14 |
ASE Industrial Holding lagged returns against current returns
Autocorrelation, which is ASE Industrial 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 ASE Industrial's stock expected returns. We can calculate the autocorrelation of ASE Industrial returns to help us make a trade decision. For example, suppose you find that ASE Industrial 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 |
ASE Industrial 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 ASE Industrial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ASE Industrial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ASE Industrial stock over time.
Current vs Lagged Prices |
| Timeline |
ASE Industrial Lagged Returns
When evaluating ASE Industrial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ASE Industrial stock have on its future price. ASE Industrial 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, ASE Industrial autocorrelation shows the relationship between ASE Industrial stock current value and its past values and can show if there is a momentum factor associated with investing in ASE Industrial Holding.
Regressed Prices |
| Timeline |
Pair Trading with ASE Industrial
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 ASE Industrial 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 ASE Industrial will appreciate offsetting losses from the drop in the long position's value.Moving together with ASE Stock
| 0.7 | MU | Micron Technology Aggressive Push | PairCorr |
| 0.89 | TSM | Taiwan Semiconductor Aggressive Push | PairCorr |
Moving against ASE Stock
| 0.81 | SNOW | Snowflake Financial Report 22nd of May 2024 | PairCorr |
| 0.78 | AAPL | Apple Inc Earnings Call This Week | PairCorr |
| 0.71 | UIS | Unisys Financial Report 7th of May 2024 | PairCorr |
| 0.68 | WDAY | Workday Financial Report 23rd of May 2024 | PairCorr |
| 0.6 | S | SentinelOne Financial Report 6th of June 2024 | PairCorr |
The ability to find closely correlated positions to ASE Industrial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ASE Industrial 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 ASE Industrial - 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 ASE Industrial Holding to buy it.
The correlation of ASE Industrial 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 ASE Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ASE Industrial Holding 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 ASE Industrial 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.Check out ASE Industrial Correlation, ASE Industrial Volatility and ASE Industrial Alpha and Beta module to complement your research on ASE Industrial. You can also try the Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Complementary Tools for ASE Stock analysis
When running ASE Industrial's price analysis, check to measure ASE Industrial'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 ASE Industrial is operating at the current time. Most of ASE Industrial's value examination focuses on studying past and present price action to predict the probability of ASE Industrial's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ASE Industrial's price. Additionally, you may evaluate how the addition of ASE Industrial to your portfolios can decrease your overall portfolio volatility.
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ASE Industrial 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.