Taiwan Speciality (Taiwan) Market Value
| 4772 Stock | 163.00 1.50 0.91% |
| Symbol | Taiwan |
Taiwan Speciality '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 Taiwan Speciality'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 Taiwan Speciality.
| 11/13/2024 |
| 12/13/2024 |
If you would invest 0.00 in Taiwan Speciality on November 13, 2024 and sell it all today you would earn a total of 0.00 from holding Taiwan Speciality Chemicals or generate 0.0% return on investment in Taiwan Speciality over 30 days.
Taiwan Speciality 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 Taiwan Speciality'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 Taiwan Speciality Chemicals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.18 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 19.15 | |||
| Value At Risk | (4.17) | |||
| Potential Upside | 5.72 |
Taiwan Speciality Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Taiwan Speciality's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Taiwan Speciality's standard deviation. In reality, there are many statistical measures that can use Taiwan Speciality historical prices to predict the future Taiwan Speciality's volatility.| Risk Adjusted Performance | 0.0196 | |||
| Jensen Alpha | 0.0113 | |||
| Total Risk Alpha | (0.36) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.146 |
Taiwan Speciality Backtested Returns
Taiwan Speciality owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0212, which indicates the firm had a -0.0212% return per unit of risk over the last 3 months. Taiwan Speciality Chemicals exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Taiwan Speciality's Coefficient Of Variation of 5968.94, semi deviation of 1.94, and Risk Adjusted Performance of 0.0196 to confirm the risk estimate we provide. The entity has a beta of 0.26, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Taiwan Speciality's returns are expected to increase less than the market. However, during the bear market, the loss of holding Taiwan Speciality is expected to be smaller as well. At this point, Taiwan Speciality has a negative expected return of -0.0591%. Please make sure to validate Taiwan Speciality's downside deviation, information ratio, and the relationship between the semi deviation and coefficient of variation , to decide if Taiwan Speciality performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.6 |
Good reverse predictability
Taiwan Speciality Chemicals has good reverse predictability. Overlapping area represents the amount of predictability between Taiwan Speciality time series from 13th of November 2024 to 28th of November 2024 and 28th of November 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 Taiwan Speciality price movement. The serial correlation of -0.6 indicates that roughly 60.0% of current Taiwan Speciality price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.6 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 8.43 |
Taiwan Speciality lagged returns against current returns
Autocorrelation, which is Taiwan Speciality 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 Taiwan Speciality's stock expected returns. We can calculate the autocorrelation of Taiwan Speciality returns to help us make a trade decision. For example, suppose you find that Taiwan Speciality 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 |
Taiwan Speciality 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 Taiwan Speciality stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Taiwan Speciality stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Taiwan Speciality stock over time.
Current vs Lagged Prices |
| Timeline |
Taiwan Speciality Lagged Returns
When evaluating Taiwan Speciality's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Taiwan Speciality stock have on its future price. Taiwan Speciality 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, Taiwan Speciality autocorrelation shows the relationship between Taiwan Speciality stock current value and its past values and can show if there is a momentum factor associated with investing in Taiwan Speciality Chemicals.
Regressed Prices |
| Timeline |
Pair Trading with Taiwan Speciality
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 Taiwan Speciality 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 Taiwan Speciality will appreciate offsetting losses from the drop in the long position's value.Moving together with Taiwan Stock
The ability to find closely correlated positions to Taiwan Speciality could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taiwan Speciality 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 Taiwan Speciality - 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 Taiwan Speciality Chemicals to buy it.
The correlation of Taiwan Speciality 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 Taiwan Speciality moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taiwan Speciality 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 Taiwan Speciality 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 Taiwan Stock Analysis
When running Taiwan Speciality's price analysis, check to measure Taiwan Speciality'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 Taiwan Speciality is operating at the current time. Most of Taiwan Speciality's value examination focuses on studying past and present price action to predict the probability of Taiwan Speciality's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Taiwan Speciality's price. Additionally, you may evaluate how the addition of Taiwan Speciality to your portfolios can decrease your overall portfolio volatility.