ThinTech Materials (Taiwan) Market Value
| 3663 Stock | TWD 70.20 2.50 3.44% |
| Symbol | ThinTech |
ThinTech Materials '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 ThinTech Materials' 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 ThinTech Materials.
| 11/17/2024 |
| 12/17/2024 |
If you would invest 0.00 in ThinTech Materials on November 17, 2024 and sell it all today you would earn a total of 0.00 from holding ThinTech Materials Technology or generate 0.0% return on investment in ThinTech Materials over 30 days. ThinTech Materials is related to or competes with Catcher Technology, Solar Applied, Evergreen Steel, Shin Zu, China Metal, Waffer Technology, and Yeong Guan. More
ThinTech Materials 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 ThinTech Materials' 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 ThinTech Materials Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 11.59 | |||
| Value At Risk | (4.81) | |||
| Potential Upside | 4.72 |
ThinTech Materials Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ThinTech Materials' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ThinTech Materials' standard deviation. In reality, there are many statistical measures that can use ThinTech Materials historical prices to predict the future ThinTech Materials' volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.35) | |||
| Total Risk Alpha | (0.61) | |||
| Treynor Ratio | (1.18) |
ThinTech Materials Backtested Returns
ThinTech Materials owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.14, which indicates the firm had a -0.14% return per unit of risk over the last 3 months. ThinTech Materials Technology exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate ThinTech Materials' Risk Adjusted Performance of (0.08), variance of 7.07, and Coefficient Of Variation of (829.48) to confirm the risk estimate we provide. The entity has a beta of 0.28, which indicates not very significant fluctuations relative to the market. As returns on the market increase, ThinTech Materials' returns are expected to increase less than the market. However, during the bear market, the loss of holding ThinTech Materials is expected to be smaller as well. At this point, ThinTech Materials has a negative expected return of -0.36%. Please make sure to validate ThinTech Materials' standard deviation, jensen alpha, and the relationship between the coefficient of variation and information ratio , to decide if ThinTech Materials performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.85 |
Very good predictability
ThinTech Materials Technology has very good predictability. Overlapping area represents the amount of predictability between ThinTech Materials time series from 17th of November 2024 to 2nd of December 2024 and 2nd of December 2024 to 17th 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 ThinTech Materials price movement. The serial correlation of 0.85 indicates that around 85.0% of current ThinTech Materials price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.85 | |
| Spearman Rank Test | 0.82 | |
| Residual Average | 0.0 | |
| Price Variance | 5.94 |
ThinTech Materials lagged returns against current returns
Autocorrelation, which is ThinTech Materials 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 ThinTech Materials' stock expected returns. We can calculate the autocorrelation of ThinTech Materials returns to help us make a trade decision. For example, suppose you find that ThinTech Materials 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 |
ThinTech Materials 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 ThinTech Materials stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ThinTech Materials stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ThinTech Materials stock over time.
Current vs Lagged Prices |
| Timeline |
ThinTech Materials Lagged Returns
When evaluating ThinTech Materials' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ThinTech Materials stock have on its future price. ThinTech Materials 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, ThinTech Materials autocorrelation shows the relationship between ThinTech Materials stock current value and its past values and can show if there is a momentum factor associated with investing in ThinTech Materials Technology.
Regressed Prices |
| Timeline |
Pair Trading with ThinTech Materials
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 ThinTech Materials 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 ThinTech Materials will appreciate offsetting losses from the drop in the long position's value.Moving together with ThinTech Stock
| 0.79 | 2474 | Catcher Technology | PairCorr |
| 0.61 | 2211 | Evergreen Steel Corp | PairCorr |
| 0.86 | 1532 | China Metal Products | PairCorr |
Moving against ThinTech Stock
| 0.83 | 1569 | Bin Chuan Enterprise | PairCorr |
| 0.78 | 2881A | Fubon Financial Holding | PairCorr |
| 0.7 | 2882B | Cathay Financial Holding | PairCorr |
| 0.69 | 9904 | Pou Chen Corp | PairCorr |
| 0.67 | 4912 | Lemtech Holdings | PairCorr |
The ability to find closely correlated positions to ThinTech Materials could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ThinTech Materials 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 ThinTech Materials - 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 ThinTech Materials Technology to buy it.
The correlation of ThinTech Materials 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 ThinTech Materials moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ThinTech Materials 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 ThinTech Materials 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 ThinTech Stock Analysis
When running ThinTech Materials' price analysis, check to measure ThinTech Materials' 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 ThinTech Materials is operating at the current time. Most of ThinTech Materials' value examination focuses on studying past and present price action to predict the probability of ThinTech Materials' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ThinTech Materials' price. Additionally, you may evaluate how the addition of ThinTech Materials to your portfolios can decrease your overall portfolio volatility.