Genovate Biotechnology (Taiwan) Market Value
| 4130 Stock | TWD 23.40 0.15 0.65% |
| Symbol | Genovate |
Genovate Biotechnology '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 Genovate Biotechnology'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 Genovate Biotechnology.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in Genovate Biotechnology on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding Genovate Biotechnology Co or generate 0.0% return on investment in Genovate Biotechnology over 90 days. Genovate Biotechnology is related to or competes with Bank of Kaohsiung, Shanghai Commercial, Shinkong Insurance, China Development, and Excelsior Medical. More
Genovate Biotechnology 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 Genovate Biotechnology'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 Genovate Biotechnology Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.46 | |||
| Information Ratio | 0.1107 | |||
| Maximum Drawdown | 15.76 | |||
| Value At Risk | (1.48) | |||
| Potential Upside | 1.9 |
Genovate Biotechnology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Genovate Biotechnology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Genovate Biotechnology's standard deviation. In reality, there are many statistical measures that can use Genovate Biotechnology historical prices to predict the future Genovate Biotechnology's volatility.| Risk Adjusted Performance | 0.0582 | |||
| Jensen Alpha | 0.1416 | |||
| Total Risk Alpha | 0.3555 | |||
| Sortino Ratio | 0.1495 | |||
| Treynor Ratio | 0.3631 |
Genovate Biotechnology Backtested Returns
At this stage we consider Genovate Stock to be very steady. Genovate Biotechnology holds Efficiency (Sharpe) Ratio of 0.0925, which attests that the entity had a 0.0925 % return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Genovate Biotechnology, which you can use to evaluate the volatility of the firm. Please check out Genovate Biotechnology's Market Risk Adjusted Performance of 0.3731, downside deviation of 1.46, and Risk Adjusted Performance of 0.0582 to validate if the risk estimate we provide is consistent with the expected return of 0.19%. Genovate Biotechnology has a performance score of 7 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.3, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Genovate Biotechnology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Genovate Biotechnology is expected to be smaller as well. Genovate Biotechnology right now retains a risk of 2.1%. Please check out Genovate Biotechnology downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Genovate Biotechnology will be following its current trending patterns.
Auto-correlation | -0.19 |
Insignificant reverse predictability
Genovate Biotechnology Co has insignificant reverse predictability. Overlapping area represents the amount of predictability between Genovate Biotechnology time series from 16th of December 2024 to 30th of January 2025 and 30th of January 2025 to 16th of March 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Genovate Biotechnology price movement. The serial correlation of -0.19 indicates that over 19.0% of current Genovate Biotechnology price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.19 | |
| Spearman Rank Test | -0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 0.1 |
Genovate Biotechnology lagged returns against current returns
Autocorrelation, which is Genovate Biotechnology 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 Genovate Biotechnology's stock expected returns. We can calculate the autocorrelation of Genovate Biotechnology returns to help us make a trade decision. For example, suppose you find that Genovate Biotechnology 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 |
Genovate Biotechnology 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 Genovate Biotechnology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Genovate Biotechnology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Genovate Biotechnology stock over time.
Current vs Lagged Prices |
| Timeline |
Genovate Biotechnology Lagged Returns
When evaluating Genovate Biotechnology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Genovate Biotechnology stock have on its future price. Genovate Biotechnology 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, Genovate Biotechnology autocorrelation shows the relationship between Genovate Biotechnology stock current value and its past values and can show if there is a momentum factor associated with investing in Genovate Biotechnology Co.
Regressed Prices |
| Timeline |
Pair Trading with Genovate Biotechnology
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 Genovate Biotechnology 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 Genovate Biotechnology will appreciate offsetting losses from the drop in the long position's value.Moving together with Genovate Stock
Moving against Genovate Stock
| 0.58 | 4743 | Oneness Biotech | PairCorr |
| 0.54 | 2317 | Hon Hai Precision | PairCorr |
| 0.5 | 2308 | Delta Electronics | PairCorr |
The ability to find closely correlated positions to Genovate Biotechnology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Genovate Biotechnology 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 Genovate Biotechnology - 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 Genovate Biotechnology Co to buy it.
The correlation of Genovate Biotechnology 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 Genovate Biotechnology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Genovate Biotechnology 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 Genovate Biotechnology 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 Genovate Stock Analysis
When running Genovate Biotechnology's price analysis, check to measure Genovate Biotechnology'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 Genovate Biotechnology is operating at the current time. Most of Genovate Biotechnology's value examination focuses on studying past and present price action to predict the probability of Genovate Biotechnology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Genovate Biotechnology's price. Additionally, you may evaluate how the addition of Genovate Biotechnology to your portfolios can decrease your overall portfolio volatility.