{"id":16788,"date":"2022-03-23T03:02:34","date_gmt":"2022-03-22T19:02:34","guid":{"rendered":"https:\/\/www.tejwin.com\/?post_type=insight&#038;p=16788"},"modified":"2025-02-25T10:31:10","modified_gmt":"2025-02-25T02:31:10","slug":"defensive-stocks-recover-after-going-ex-dividend","status":"publish","type":"insight","link":"https:\/\/www.tejwin.com\/en\/insight\/defensive-stocks-recover-after-going-ex-dividend\/","title":{"rendered":"Defensive Stocks : Recover After Going Ex-Dividend"},"content":{"rendered":"\n<p id=\"8b5c\"><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized caption-align-center\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1hNXINKr5pqh2VQvTRYcHww.jpg\" alt=\"\" style=\"width:841px;height:559px\"\/><figcaption class=\"wp-element-caption\">Photo by&nbsp;<a href=\"https:\/\/unsplash.com\/@alschim?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" rel=\"noreferrer noopener\" target=\"_blank\">Alexander Schimmeck<\/a>&nbsp;on&nbsp;<a href=\"https:\/\/unsplash.com\/s\/photos\/select?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" rel=\"noreferrer noopener\" target=\"_blank\">Unsplash<\/a><\/figcaption><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a0f34398501f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a0f34398501f\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tejwin.com\/en\/insight\/defensive-stocks-recover-after-going-ex-dividend\/#Highlights\" >Highlights<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tejwin.com\/en\/insight\/defensive-stocks-recover-after-going-ex-dividend\/#Preface\" >Preface<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tejwin.com\/en\/insight\/defensive-stocks-recover-after-going-ex-dividend\/#The_Editing_Environment_and_Modules_Required\" >The Editing Environment and Modules Required<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tejwin.com\/en\/insight\/defensive-stocks-recover-after-going-ex-dividend\/#Database\" >Database<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tejwin.com\/en\/insight\/defensive-stocks-recover-after-going-ex-dividend\/#Data_Processing\" >Data Processing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.tejwin.com\/en\/insight\/defensive-stocks-recover-after-going-ex-dividend\/#Conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.tejwin.com\/en\/insight\/defensive-stocks-recover-after-going-ex-dividend\/#Source_Code\" >Source Code<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.tejwin.com\/en\/insight\/defensive-stocks-recover-after-going-ex-dividend\/#Extended_Reading\" >Extended Reading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.tejwin.com\/en\/insight\/defensive-stocks-recover-after-going-ex-dividend\/#Related_Link\" >Related Link<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"daed\"><span class=\"ez-toc-section\" id=\"Highlights\"><\/span><strong>Highlights<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Difficulty\uff1a\u2605\u2606\u2606\u2606\u2606<\/li>\n\n\n\n<li>Advice: This article adopts TEJ API to get the data, \\. Before reading this,&nbsp;<a href=\"https:\/\/medium.com\/tej-can-help\/tej-dictionary-ex-price-recovery-5dd25d1fb31b\" target=\"_blank\" rel=\"noopener\">\u3010TEJ Dictionary\u3011Ex-Price Recovery<\/a>&nbsp;is recommended to explore to better understand the diviend recovery !<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"3979\"><span class=\"ez-toc-section\" id=\"Preface\"><\/span><strong>Preface<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"67f0\">In Taiwan ,our investor have the higher preference for the high yield stock,and high-yield stocks tend to be accompanied by low volatility,that we call low Beta.<\/p>\n\n\n\n<p id=\"068e\">The Beta value represent the correlation with the broader market,0050<br>is well known in Taiwan ,and the beta is between about one ,It shows that he can reflect the ups and downs of the broader market.0056 beta is between 0.75~1 ,which shows that is degree of volatility lower than 0050 .<\/p>\n\n\n\n<p id=\"d613\">Recently,uncertainty in the stock market due to geopolitics and interest rate hikes,which cause the high volatitlty.The best way for ordinary investors is to reduce hold part, according to ,but according to Fidelity\u2019s research report an American investor misses the best 50 days of return in the past 40 years, your assets will be a full 93% less than that of an investor who stays in the market completely, so perhaps choosing a lower risk stock is a good alternative plan.<\/p>\n\n\n\n<p id=\"f3f1\">In recent month 0050 down about 4% ,but 0056 up 1% . during turbulent times, is it safer to choose high-yield stocks? Therefore, this article wants to analyze the dividend payout status of high-yield stocks in the past five years to see if it is appropriate to use beta indicators to choose high-yield stocks recovery ex -dividend.<\/p>\n\n\n\n<p id=\"a0f4\">In this article , we use three indicators to classify<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Beta<\/li>\n\n\n\n<li>revenue growth (yoy %)<\/li>\n\n\n\n<li>Q1 margin growth (yoy%)<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"1d49\"><span class=\"ez-toc-section\" id=\"The_Editing_Environment_and_Modules_Required\"><\/span><strong>The Editing Environment and Modules Required<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"dad2\">Window10 Spyder(anaconda31)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"d1e6\"><span class=\"ez-toc-section\" id=\"Database\"><\/span><strong>Database<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"62fe\"><a href=\"https:\/\/api.tej.com.tw\/columndoc.html?subId=42\" rel=\"noreferrer noopener\" target=\"_blank\">Security Transaction Data Table<\/a>\uff1aListed securities with unadjusted price and index. Code is \u2018TWN\/EWPRCD\u2019<\/p>\n\n\n\n<p id=\"6951\"><a href=\"https:\/\/api.tej.com.tw\/columndoc.html?subId=51\" rel=\"noreferrer noopener\" target=\"_blank\">Share Price Compensation (Day) \u2014 BETA: The database code is (TWN\/ABETA)<\/a><\/p>\n\n\n\n<p id=\"8e00\"><a href=\"https:\/\/api.tej.com.tw\/columndoc.html?subId=107\" rel=\"noreferrer noopener\" target=\"_blank\">Security Attribute Data: The database code is (TWN\/AIND)<\/a><\/p>\n\n\n\n<p id=\"442a\"><a href=\"https:\/\/api.tej.com.tw\/columndoc.html?subId=197\" rel=\"noreferrer noopener\" target=\"_blank\">Listed (cabinet) recovery ex-diviend database: the database code is TWN\/AREINT<\/a><\/p>\n\n\n\n<pre class=\"wp-block-preformatted\"><br>import pandas as pd<br>import matplotlib.pyplot as plt<br>import numpy as np<br>#################TEJ<br>import tejapi<br>tejapi.ApiConfig.api_key = 'Your Key'<br>tejapi.ApiConfig.ignoretz = True<\/pre>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"011c\"><span class=\"ez-toc-section\" id=\"Data_Processing\"><\/span><strong>Data Processing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<pre class=\"wp-block-preformatted\">data=tejapi.get('TWN\/EWNPRCSTD' ,chinese_column_name=True )<br>select=data[\"\u4e0a\u5e02\u5225\"].unique()select=select[1:3]<br>condition =(data[\"\u4e0a\u5e02\u5225\"].isin(select)) &amp; ( data[\"\u8b49\u5238\u7a2e\u985e\u540d\u7a31\"]==\"\u666e\u901a\u80a1\" )<br>data=data[condition]<br>twid=data[\"\u8b49\u5238\u78bc\"].to_list()<\/pre>\n\n\n\n<p id=\"94db\">get the all id of the listed company<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">year='2017'  ######\u9078\u64c7\u5e74\u5ea6 \u672c\u5e74\u5ea6\u9078\u64c72017~2021<br>start= year+'-01-01'<br>end  = year+\"-12-31\"<br>dividend=tejapi.get('TWN\/AREINT' ,<br>            coid=twid,<br>            mdate={'gt':start,'lt':end},<br>            paginate=True,<br>            chinese_column_name=True)<\/pre>\n\n\n\n<p id=\"3399\">check dividend<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1wOhrIs54c3qlv_fqNLoj_A.png\" alt=\"\"\/><\/figure>\n\n\n\n<p id=\"ddca\">Next, we need the beta value and select it from the database, and our data are selected from a trading day that falls around 5\/10 (announced April revenue), most companies have announced dividends, and the first quarter financial reports are all out (the deadline is also 3\/31).<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">start= year+'-05-09'<br>end=   year+\"-05-11\"<br>opts={'columns': ['coid','mdate', 'beta_1y']}<br>beta = tejapi.get('TWN\/ABETA',<br>                  coid=twid,<br>            mdate={'gt':start,'lt':end},<br>            paginate=True,<br>            chinese_column_name=True<br>)<br>beta.set_index(\"\u8b49\u5238\u4ee3\u78bc\",inplace=True) #\u65b9\u4fbf\u5408\u4f75<\/pre>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1VE7BwPtI9II0M_JnGsOoBg.png\" alt=\"\"\/><\/figure>\n\n\n\n<p id=\"3640\">We are going to get the pe-ratio,yield .<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">start= year+'-05-9'<br>end=   year+\"-05-11\"<br>getperatio=tejapi.get('TWN\/APRCD' ,<br>                  coid=twid,<br>                  mdate={'gt':start,'lt':end},<br>                  paginate=True,<br>                  chinese_column_name=True )<br>getperatio.set_index(\"\u8b49\u5238\u4ee3\u78bc\",inplace=True)<\/pre>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1hrewq68TZfBNe57nfQn49A.png\" alt=\"\"\/><\/figure>\n\n\n\n<p id=\"470f\">Get the grossgross profit margin<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">twid1=twid <br>groups = []<br>while True:<br>    if len(twid1) &gt;= 50:<br>        groups.append(twid1[:50])<br>        twid1 = twid1[50:]<br>    elif 0 &lt;= len(twid1) &lt; 50:<br>        groups.append(twid1)<br>        break<\/pre>\n\n\n\n<p id=\"f8fe\">Use the loop to get the financial report .(avoid api reject it)<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">fin_data = pd.DataFrame()start=year+'-01-01'<br>end=  year+\"-03-22\"    ##first<br>for group in groups:<br>    fin_data = fin_data.append(tejapi.get('TWN\/EWIFINQ',<br>                  coid = group,<br>                  mdate={'gt':start,'lt':end},<br>                 <br>                  chinese_column_name = True,<br>                  paginate = True)).reset_index(drop=True)<br>fin_data.set_index(\"\u8b49\u5238\u78bc\",inplace=True)<\/pre>\n\n\n\n<p id=\"a322\">We get the first quarter finanical report , and we want month revenue next !<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1MXZDAHR1dEfejYQCaS9qXw.png\" alt=\"\"\/><\/figure>\n\n\n\n<p id=\"9602\">Finally we get all we want! ,we should combine all the data together by \u201cid\u201d<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">dividend[\"\u7d2f\u8a08\u71df\u6536\u6210\u9577\u7387%\"]=trade[\"\u7d2f\u8a08\u71df\u6536\u6210\u9577\u7387%\"]<br>dividend[\"\u80a1\u5229\u6b96\u5229\u7387-TSE\"]=getperatio[\"\u80a1\u5229\u6b96\u5229\u7387-TSE\" ]<br>dividend[\"\u73fe\u91d1\u80a1\u5229\u7387\"]=getperatio[\"\u73fe\u91d1\u80a1\u5229\u7387\" ]<br>dividend[\"\u71df\u696d\u6bdb\u5229\u7387\"]=fin_data[\"\u71df\u696d\u6bdb\u5229\u7387\"]<br>dividend[\"CAPM_Beta \u4e00\u5e74\"]=beta['CAPM_Beta \u4e00\u5e74']<br>dividend[\"\u586b\u6b0a\u606f(Y\/N)\"]=dividend[\"\u586b\u6b0a\u606f(Y\/N)\"].apply(lambda x : 1 if x == \"Y\" else 0)  ###\u5c07y n\u8b8a\u62100 \u6216 1<br>dividend[\"\u586b\u6b0a\u606f(Y\/N)\"].value_counts() <br>dividend[\"\u672c\u76ca\u6bd4\"]=getperatio[\"\u672c\u76ca\u6bd4-TSE\" ]<\/pre>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1wMHqPLe7oDLXDOEJnuy8lA.png\" alt=\"\"\/><\/figure>\n\n\n\n<p id=\"7710\">Next step is start to analyze the data , so we write a function to get recovry<br>probability.<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">def count(x):<br>   a,b =  x[\"\u586b\u6b0a\u606f(Y\/N)\"].value_counts()<br>   c=x[\"\u586b\u6b0a\u606f\u5929\u6578\"].mean()<br>   return f'\u586b\u606f\u6a5f\u7387 : {a\/(a+b)}' , f'\u586b\u606f\u5bb6\u6578 : {a}' ,f'\u672a\u586b\u606f\u5bb6\u6578 : {b}', f'\u586b\u606f\u5929\u6578 : {c}'###\u7b97\u51fa\u8cc7\u6599\u53ca\u88e1\u9762\u586b\u6b0a\u606f\u5929\u6578 \u8207\u6a5f\u7387<br>div5=dividend[dividend[\"\u80a1\u5229\u6b96\u5229\u7387-TSE\"]&gt;5]<br>count(div5)<\/pre>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1QZBN28UWPUE0a3rbyP219A.png\" alt=\"\"\/><\/figure>\n\n\n\n<p id=\"47c7\">In 2017 ,the recovry probability is 78% and the average days was 46.<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">def capmselect(df,b,c):<br>    yy=df[(df[\"\u80a1\u5229\u6b96\u5229\u7387-TSE\"]&gt;5)&amp;(df[\"CAPM_Beta \u4e00\u5e74\"]&gt;b)&amp;(df[\"CAPM_Beta \u4e00\u5e74\"] &lt; c)]<br>    return count(yy)def capmpeselect(df,b,c,d ):   ########\u689d\u4ef6\u589e\u52a0\u6708\u71df\u6536\u7684yy=df[(df[\"\u80a1\u5229\u6b96\u5229\u7387-TSE\"]&gt;5)&amp;(df[\"CAPM_Beta \u4e00\u5e74\"]&gt;b)&amp;(df[\"CAPM_Beta \u4e00\u5e74\"] &lt; c)&amp; (df[\"\u7d2f\u8a08\u71df\u6536\u6210\u9577\u7387%\"] &gt; d )]<br>    return count(yy)def ncapmpeselect(df,b,c,d ):  #####\u7d2f\u8a08\u6210\u9577\u8ca0\u7684yy=df[(df[\"\u80a1\u5229\u6b96\u5229\u7387-TSE\"]&gt;5)&amp;(df[\"CAPM_Beta \u4e00\u5e74\"]&gt;b)&amp;(df[\"CAPM_Beta \u4e00\u5e74\"] &lt; c)&amp; (df[\"\u7d2f\u8a08\u71df\u6536\u6210\u9577\u7387%\"] &lt; d )]<br>    return count(yy)def allcondition(a,b,c,d,e,f):  #\u7d2f\u8a08\u71df\u6536\u6b63 \u6bdb\u5229\u7387\u6210\u9577\u6b63  allcondition=dividend[(dividend[\"\u80a1\u5229\u6b96\u5229\u7387-TSE\"]&gt;a)&amp;(dividend[\"\u672c\u76ca\u6bd4\"]&lt;b)&amp;(dividend[\"CAPM_Beta \u4e00\u5e74\"]&gt;c)&amp;<br>(dividend[\"CAPM_Beta \u4e00\u5e74\"]&lt;d)&amp;<br>(dividend[\"\u7d2f\u8a08\u71df\u6536\u6210\u9577\u7387%\"]&gt;e)&amp;<br>(dividend[\"\u71df\u696d\u6bdb\u5229\u6210\u9577\u7387\"]&gt;f)]<br>    return count(allcondition)def nallcondition(a,b,c,d,e,f): #\u7d2f\u8a08\u71df\u6536\u8ca0 \u6bdb\u5229\u7387\u6210\u9577\u8ca0  allcondition=dividend[(dividend[\"\u80a1\u5229\u6b96\u5229\u7387-TSE\"]&gt;a)&amp;(dividend[\"CAPM_Beta \u4e00\u5e74\"]&gt;c)&amp;(dividend[\"CAPM_Beta \u4e00\u5e74\"]&lt;d)&amp;(dividend[\"\u7d2f\u8a08\u71df\u6536\u6210\u9577\u7387%\"]&lt; e)&amp;(dividend[\"\u71df\u696d\u6bdb\u5229\u6210\u9577\u7387\"]&lt;f)]  return count(allcondition)<\/pre>\n\n\n\n<p id=\"0ed6\">We use the Beta among 0.4 to 0.6 to demonstrate our outcome !<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1rBPIvpbWjd_rwVbhqqwYdQ.png\" alt=\"\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1qJDs_p77X7nFH40RaBVdHQ.png\" alt=\"\"\/><\/figure>\n\n\n\n<p id=\"9d73\">In this group we saw that Stocks with sustained revenue growth and gross profit margins have better perfromance , negative have the worst perfromance.<\/p>\n\n\n\n<p id=\"d525\">Below this are the recent 5 years<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1_1_Sdsx9xrKjFnZnoQtCKAlQ.png\" alt=\"\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/18ysKf-yXLH58jDmc33Tj5A.png\" alt=\"\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/14EmxoHF48k639eQXhgMZUw.png\" alt=\"\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1_FnF_VEoCOdg57JgtGX8-A.png\" alt=\"\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1Twz0qexgCFUx4lOBtcK0Pw.png\" alt=\"\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"8204\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"7a7c\">Through observations over the past few years, we have discovered the following:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>In the growth of revenue and gross profit, the probability of ex-diviednd recovery is higher.<\/li>\n\n\n\n<li>Revenue and gross profit decline, and the probability of iex-diviednd recovery is low<\/li>\n\n\n\n<li>The low Beta is not better than the high Beta<\/li>\n\n\n\n<li>The stocks with higher betas have higher recovry rate and shorter periods of time.<\/li>\n<\/ol>\n\n\n\n<p id=\"190a\">So we suggest that select growing company is the better way! the stocks which had only one year good performance but decline next year is not the good selection to chose !<\/p>\n\n\n\n<p id=\"2e27\">The defensive stocks can avoid declines but may not be as active as stocks in terms of recovery ratio! we can not only use the artificial way to judge but also use the machine learning way to judge !<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"62e0\"><span class=\"ez-toc-section\" id=\"Source_Code\"><\/span><strong>Source Code<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/gist.github.com\/tej87681088\/43e143ba4adaf8d85dc88a2b5c9390c5#file-ipynb\" class=\"ek-link\" target=\"_blank\" rel=\"noopener\">Click here to go Github<\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"e07a\"><span class=\"ez-toc-section\" id=\"Extended_Reading\"><\/span><strong>Extended Reading<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/medium.com\/tej-can-help\/tej-dictionary-ex-price-recovery-5dd25d1fb31b\" class=\"ek-link\" target=\"_blank\" rel=\"noopener\">Ex-Price Recovery<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.tejwin.com\/en\/insight\/stock-selection-by-random-forest-algorithm\/\" class=\"ek-link\">Stock Selection by Random Forest Algorithm<\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"e39d\"><span class=\"ez-toc-section\" id=\"Related_Link\"><\/span><strong>Related Link<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/api.tej.com.tw\/index.html\" rel=\"noreferrer noopener\" target=\"_blank\">TEJ API<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/eshop.tej.com.tw\/E-Shop\/Edata_intro\" rel=\"noreferrer noopener\" target=\"_blank\">TEJ E-Shop<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Highlights Preface In Taiwan ,our investor have the higher preference for the high yield stock,and high-yield stocks tend to be accompanied by low volatility,that we call low Beta. The Beta value represent the correlation with the broader market,0050is well known in Taiwan ,and the beta is between about one ,It shows that he can reflect [&hellip;]<\/p>\n","protected":false},"featured_media":16790,"template":"","tags":[2371,3008,2541],"insight-category":[690,3509,50],"class_list":["post-16788","insight","type-insight","status-publish","has-post-thumbnail","hentry","tag-python","tag-tejapi-quant","tag-2541","insight-category-data-analysis","insight-category-fintech-en","insight-category-fintech"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight\/16788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight"}],"about":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/types\/insight"}],"version-history":[{"count":1,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight\/16788\/revisions"}],"predecessor-version":[{"id":33084,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight\/16788\/revisions\/33084"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/media\/16790"}],"wp:attachment":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/media?parent=16788"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/tags?post=16788"},{"taxonomy":"insight-category","embeddable":true,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight-category?post=16788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}