Golden Friends (Taiwan) Market Value
| 4506 Stock | TWD 103.00 0.50 0.48% |
| Symbol | Golden |
Golden Friends '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 Friends' 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 Friends.
| 11/19/2023 |
| 12/13/2024 |
If you would invest 0.00 in Golden Friends on November 19, 2023 and sell it all today you would earn a total of 0.00 from holding Golden Friends or generate 0.0% return on investment in Golden Friends over 390 days. Golden Friends is related to or competes with Charoen Pokphand, Taiwan Sakura, Great Wall, TTET Union, and Lien Hwa. More
Golden Friends 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 Friends' 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 Friends upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7116 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 4.09 | |||
| Value At Risk | (0.98) | |||
| Potential Upside | 1.47 |
Golden Friends Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Golden Friends' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Golden Friends' standard deviation. In reality, there are many statistical measures that can use Golden Friends historical prices to predict the future Golden Friends' volatility.| Risk Adjusted Performance | 0.0738 | |||
| Jensen Alpha | 0.0716 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | (4.61) |
Golden Friends Backtested Returns
At this stage we consider Golden Stock to be very steady. Golden Friends holds Efficiency (Sharpe) Ratio of 0.0644, which attests that the entity had a 0.0644% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Golden Friends, which you can use to evaluate the volatility of the firm. Please check out Golden Friends' Downside Deviation of 0.7116, risk adjusted performance of 0.0738, and Market Risk Adjusted Performance of (4.60) to validate if the risk estimate we provide is consistent with the expected return of 0.0507%. Golden Friends has a performance score of 5 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of -0.0152, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Golden Friends are expected to decrease at a much lower rate. During the bear market, Golden Friends is likely to outperform the market. Golden Friends right now retains a risk of 0.79%. Please check out Golden Friends coefficient of variation, jensen alpha, and the relationship between the downside deviation and standard deviation , to decide if Golden Friends will be following its current trending patterns.
Auto-correlation | -0.34 |
Poor reverse predictability
Golden Friends has poor reverse predictability. Overlapping area represents the amount of predictability between Golden Friends time series from 19th of November 2023 to 1st of June 2024 and 1st of June 2024 to 13th 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 Friends price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current Golden Friends price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | -0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 14.13 |
Golden Friends lagged returns against current returns
Autocorrelation, which is Golden Friends 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 Friends' stock expected returns. We can calculate the autocorrelation of Golden Friends returns to help us make a trade decision. For example, suppose you find that Golden Friends 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 Friends 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 Friends stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Golden Friends stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Golden Friends stock over time.
Current vs Lagged Prices |
| Timeline |
Golden Friends Lagged Returns
When evaluating Golden Friends' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Golden Friends stock have on its future price. Golden Friends 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 Friends autocorrelation shows the relationship between Golden Friends stock current value and its past values and can show if there is a momentum factor associated with investing in Golden Friends.
Regressed Prices |
| Timeline |
Pair Trading with Golden Friends
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 Friends 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 Friends will appreciate offsetting losses from the drop in the long position's value.Moving against Golden Stock
The ability to find closely correlated positions to Golden Friends 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 Friends 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 Friends - 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 Friends to buy it.
The correlation of Golden Friends 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 Friends moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Golden Friends 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 Friends 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 Friends' price analysis, check to measure Golden Friends' 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 Friends is operating at the current time. Most of Golden Friends' value examination focuses on studying past and present price action to predict the probability of Golden Friends' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Golden Friends' price. Additionally, you may evaluate how the addition of Golden Friends to your portfolios can decrease your overall portfolio volatility.