Tang Eng (Taiwan) Market Value
| 2035 Stock | TWD 31.60 0.70 2.17% |
| Symbol | Tang |
Tang Eng '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 Tang Eng'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 Tang Eng.
| 11/18/2024 |
| 12/18/2024 |
If you would invest 0.00 in Tang Eng on November 18, 2024 and sell it all today you would earn a total of 0.00 from holding Tang Eng Iron or generate 0.0% return on investment in Tang Eng over 30 days. Tang Eng is related to or competes with Tainan Spinning, Lealea Enterprise, China Petrochemical, Ruentex Development, WiseChip Semiconductor, Novatek Microelectronics, and Leader Electronics. More
Tang Eng 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 Tang Eng'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 Tang Eng Iron upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 4.91 | |||
| Value At Risk | (2.12) | |||
| Potential Upside | 1.09 |
Tang Eng Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tang Eng's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tang Eng's standard deviation. In reality, there are many statistical measures that can use Tang Eng historical prices to predict the future Tang Eng's volatility.| Risk Adjusted Performance | (0.0009) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.08) | |||
| Treynor Ratio | (0.17) |
Tang Eng Iron Backtested Returns
Tang Eng Iron owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0121, which indicates the firm had a -0.0121% return per unit of risk over the last 3 months. Tang Eng Iron exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tang Eng's Coefficient Of Variation of (27,001), risk adjusted performance of (0.0009), and Variance of 0.7846 to confirm the risk estimate we provide. The entity has a beta of 0.078, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Tang Eng's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tang Eng is expected to be smaller as well. At this point, Tang Eng Iron has a negative expected return of -0.0109%. Please make sure to validate Tang Eng's jensen alpha, treynor ratio, and the relationship between the information ratio and total risk alpha , to decide if Tang Eng Iron performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.14 |
Insignificant predictability
Tang Eng Iron has insignificant predictability. Overlapping area represents the amount of predictability between Tang Eng time series from 18th of November 2024 to 3rd of December 2024 and 3rd of December 2024 to 18th 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 Tang Eng Iron price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Tang Eng price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.14 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
Tang Eng Iron lagged returns against current returns
Autocorrelation, which is Tang Eng 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 Tang Eng's stock expected returns. We can calculate the autocorrelation of Tang Eng returns to help us make a trade decision. For example, suppose you find that Tang Eng 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 |
Tang Eng 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 Tang Eng stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tang Eng stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tang Eng stock over time.
Current vs Lagged Prices |
| Timeline |
Tang Eng Lagged Returns
When evaluating Tang Eng's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tang Eng stock have on its future price. Tang Eng 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, Tang Eng autocorrelation shows the relationship between Tang Eng stock current value and its past values and can show if there is a momentum factor associated with investing in Tang Eng Iron.
Regressed Prices |
| Timeline |
Pair Trading with Tang Eng
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 Tang Eng 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 Tang Eng will appreciate offsetting losses from the drop in the long position's value.Moving against Tang Stock
The ability to find closely correlated positions to Tang Eng could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tang Eng 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 Tang Eng - 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 Tang Eng Iron to buy it.
The correlation of Tang Eng 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 Tang Eng moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tang Eng Iron 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 Tang Eng 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 Tang Stock Analysis
When running Tang Eng's price analysis, check to measure Tang Eng'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 Tang Eng is operating at the current time. Most of Tang Eng's value examination focuses on studying past and present price action to predict the probability of Tang Eng's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tang Eng's price. Additionally, you may evaluate how the addition of Tang Eng to your portfolios can decrease your overall portfolio volatility.