GeneReach Biotechnology (Taiwan) Market Value
| 4171 Stock | TWD 26.75 0.50 1.83% |
| Symbol | GeneReach |
GeneReach 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 GeneReach 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 GeneReach Biotechnology.
| 11/14/2024 |
| 12/14/2024 |
If you would invest 0.00 in GeneReach Biotechnology on November 14, 2024 and sell it all today you would earn a total of 0.00 from holding GeneReach Biotechnology or generate 0.0% return on investment in GeneReach Biotechnology over 30 days. GeneReach Biotechnology is related to or competes with Elan Microelectronics, Ablerex Electronics, Min Aik, Lien Chang, Lelon Electronics, WT Microelectronics, and Higher Way. GeneReach Biotechnology Corp. develops, manufactures, and markets products for applied nucleic acid detection technology... More
GeneReach 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 GeneReach 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 GeneReach Biotechnology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.32) | |||
| Maximum Drawdown | 6.47 | |||
| Value At Risk | (1.83) | |||
| Potential Upside | 1.2 |
GeneReach Biotechnology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for GeneReach Biotechnology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as GeneReach Biotechnology's standard deviation. In reality, there are many statistical measures that can use GeneReach Biotechnology historical prices to predict the future GeneReach Biotechnology's volatility.| Risk Adjusted Performance | (0.16) | |||
| Jensen Alpha | (0.27) | |||
| Total Risk Alpha | (0.41) | |||
| Treynor Ratio | 11.64 |
GeneReach Biotechnology Backtested Returns
GeneReach Biotechnology holds Efficiency (Sharpe) Ratio of -0.23, which attests that the entity had a -0.23% return per unit of risk over the last 3 months. GeneReach Biotechnology exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out GeneReach Biotechnology's Risk Adjusted Performance of (0.16), market risk adjusted performance of 11.65, and Standard Deviation of 1.14 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.0234, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning GeneReach Biotechnology are expected to decrease at a much lower rate. During the bear market, GeneReach Biotechnology is likely to outperform the market. At this point, GeneReach Biotechnology has a negative expected return of -0.26%. Please make sure to check out GeneReach Biotechnology's jensen alpha, treynor ratio, and the relationship between the information ratio and total risk alpha , to decide if GeneReach Biotechnology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.12 |
Insignificant predictability
GeneReach Biotechnology has insignificant predictability. Overlapping area represents the amount of predictability between GeneReach Biotechnology time series from 14th of November 2024 to 29th of November 2024 and 29th of November 2024 to 14th 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 GeneReach Biotechnology price movement. The serial correlation of 0.12 indicates that less than 12.0% of current GeneReach Biotechnology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | -0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 0.54 |
GeneReach Biotechnology lagged returns against current returns
Autocorrelation, which is GeneReach 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 GeneReach Biotechnology's stock expected returns. We can calculate the autocorrelation of GeneReach Biotechnology returns to help us make a trade decision. For example, suppose you find that GeneReach 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 |
GeneReach 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 GeneReach Biotechnology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if GeneReach Biotechnology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in GeneReach Biotechnology stock over time.
Current vs Lagged Prices |
| Timeline |
GeneReach Biotechnology Lagged Returns
When evaluating GeneReach Biotechnology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of GeneReach Biotechnology stock have on its future price. GeneReach 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, GeneReach Biotechnology autocorrelation shows the relationship between GeneReach Biotechnology stock current value and its past values and can show if there is a momentum factor associated with investing in GeneReach Biotechnology.
Regressed Prices |
| Timeline |
Pair Trading with GeneReach 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 GeneReach 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 GeneReach Biotechnology will appreciate offsetting losses from the drop in the long position's value.Moving together with GeneReach Stock
| 0.77 | 4743 | Oneness Biotech | PairCorr |
| 0.86 | 6547 | Medigen Vaccine Biologics | PairCorr |
| 0.9 | 4174 | OBI Pharma | PairCorr |
Moving against GeneReach Stock
| 0.77 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.73 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.61 | 2609 | Yang Ming Marine | PairCorr |
| 0.61 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.54 | 1449 | Chia Her Industrial Split | PairCorr |
The ability to find closely correlated positions to GeneReach 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 GeneReach 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 GeneReach 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 GeneReach Biotechnology to buy it.
The correlation of GeneReach 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 GeneReach Biotechnology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GeneReach 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 GeneReach 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 GeneReach Stock Analysis
When running GeneReach Biotechnology's price analysis, check to measure GeneReach 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 GeneReach Biotechnology is operating at the current time. Most of GeneReach Biotechnology's value examination focuses on studying past and present price action to predict the probability of GeneReach 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 GeneReach Biotechnology's price. Additionally, you may evaluate how the addition of GeneReach Biotechnology to your portfolios can decrease your overall portfolio volatility.