Golden Long (Taiwan) Market Value
| 3188 Stock | TWD 27.30 0.75 2.67% |
| Symbol | Golden |
Golden Long '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 Golden Long'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 Golden Long.
| 09/30/2024 |
| 12/29/2024 |
If you would invest 0.00 in Golden Long on September 30, 2024 and sell it all today you would earn a total of 0.00 from holding Golden Long Teng or generate 0.0% return on investment in Golden Long over 90 days. Golden Long is related to or competes with Central Reinsurance, Cathay Financial, China Metal, Sinopac Financial, China Development, Sunspring Metal, and Shanghai Commercial. Golden Long Teng Development Co., Ltd. engages in the development, sale, and lease of residential buildings More
Golden Long 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 Golden Long'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 Golden Long Teng upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 10.01 | |||
| Value At Risk | (3.67) | |||
| Potential Upside | 3.81 |
Golden Long Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Golden Long's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Golden Long's standard deviation. In reality, there are many statistical measures that can use Golden Long historical prices to predict the future Golden Long's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.38) | |||
| Total Risk Alpha | (0.44) | |||
| Treynor Ratio | 5.0 |
Golden Long Teng Backtested Returns
Golden Long Teng holds Efficiency (Sharpe) Ratio of -0.16, which attests that the entity had a -0.16% return per unit of risk over the last 3 months. Golden Long Teng exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Golden Long's Risk Adjusted Performance of (0.13), market risk adjusted performance of 5.01, and Standard Deviation of 2.2 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.0767, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Golden Long are expected to decrease at a much lower rate. During the bear market, Golden Long is likely to outperform the market. At this point, Golden Long Teng has a negative expected return of -0.35%. Please make sure to check out Golden Long's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Golden Long Teng performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.16 |
Insignificant reverse predictability
Golden Long Teng has insignificant reverse predictability. Overlapping area represents the amount of predictability between Golden Long time series from 30th of September 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 Golden Long Teng price movement. The serial correlation of -0.16 indicates that over 16.0% of current Golden Long price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.16 | |
| Spearman Rank Test | -0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.75 |
Golden Long Teng lagged returns against current returns
Autocorrelation, which is Golden Long 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 Golden Long's stock expected returns. We can calculate the autocorrelation of Golden Long returns to help us make a trade decision. For example, suppose you find that Golden Long 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 |
Golden Long 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 Golden Long stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Golden Long stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Golden Long stock over time.
Current vs Lagged Prices |
| Timeline |
Golden Long Lagged Returns
When evaluating Golden Long's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Golden Long stock have on its future price. Golden Long 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, Golden Long autocorrelation shows the relationship between Golden Long stock current value and its past values and can show if there is a momentum factor associated with investing in Golden Long Teng.
Regressed Prices |
| Timeline |
Pair Trading with Golden Long
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 Golden Long 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 Golden Long will appreciate offsetting losses from the drop in the long position's value.Moving together with Golden Stock
Moving against Golden Stock
| 0.8 | 8240 | Wah Hong Industrial | PairCorr |
| 0.75 | 2882B | Cathay Financial Holding | PairCorr |
| 0.74 | 2881A | Fubon Financial Holding | PairCorr |
| 0.66 | 9904 | Pou Chen Corp | PairCorr |
| 0.66 | 3041 | ALi Corp Split | PairCorr |
The ability to find closely correlated positions to Golden Long could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Golden Long 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 Golden Long - 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 Golden Long Teng to buy it.
The correlation of Golden Long 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 Golden Long moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Golden Long Teng 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 Golden Long 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 Golden Stock Analysis
When running Golden Long's price analysis, check to measure Golden Long'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 Golden Long is operating at the current time. Most of Golden Long's value examination focuses on studying past and present price action to predict the probability of Golden Long's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Golden Long's price. Additionally, you may evaluate how the addition of Golden Long to your portfolios can decrease your overall portfolio volatility.