Aspeed Technology (Taiwan) Market Value
| 5274 Stock | TWD 4,005 70.00 1.78% |
| Symbol | Aspeed |
Aspeed Technology '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 Aspeed Technology'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 Aspeed Technology.
| 06/01/2024 |
| 11/28/2024 |
If you would invest 0.00 in Aspeed Technology on June 1, 2024 and sell it all today you would earn a total of 0.00 from holding Aspeed Technology or generate 0.0% return on investment in Aspeed Technology over 180 days. Aspeed Technology is related to or competes with Taiwan Semiconductor, MediaTek, United Microelectronics, Novatek Microelectronics, Realtek Semiconductor, and Global Unichip. ASPEED Technology Inc. operates as a fabless integrated circuit design company in Taiwan, China, the United States, and ... More
Aspeed Technology 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 Aspeed Technology'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 Aspeed Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 16.01 | |||
| Value At Risk | (5.99) | |||
| Potential Upside | 6.14 |
Aspeed Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Aspeed Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Aspeed Technology's standard deviation. In reality, there are many statistical measures that can use Aspeed Technology historical prices to predict the future Aspeed Technology's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.36) | |||
| Total Risk Alpha | (0.81) | |||
| Treynor Ratio | (0.44) |
Aspeed Technology Backtested Returns
Aspeed Technology secures Sharpe Ratio (or Efficiency) of -0.0752, which signifies that the company had a -0.0752% return per unit of risk over the last 3 months. Aspeed Technology exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Aspeed Technology's Mean Deviation of 2.55, risk adjusted performance of (0.05), and Standard Deviation of 3.47 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.65, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Aspeed Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Aspeed Technology is expected to be smaller as well. At this point, Aspeed Technology has a negative expected return of -0.27%. Please make sure to confirm Aspeed Technology's treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Aspeed Technology performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.31 |
Poor reverse predictability
Aspeed Technology has poor reverse predictability. Overlapping area represents the amount of predictability between Aspeed Technology time series from 1st of June 2024 to 30th of August 2024 and 30th of August 2024 to 28th of November 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 Aspeed Technology price movement. The serial correlation of -0.31 indicates that nearly 31.0% of current Aspeed Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.31 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 62.7 K |
Aspeed Technology lagged returns against current returns
Autocorrelation, which is Aspeed Technology 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 Aspeed Technology's stock expected returns. We can calculate the autocorrelation of Aspeed Technology returns to help us make a trade decision. For example, suppose you find that Aspeed Technology 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 |
Aspeed Technology 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 Aspeed Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Aspeed Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Aspeed Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Aspeed Technology Lagged Returns
When evaluating Aspeed Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Aspeed Technology stock have on its future price. Aspeed Technology 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, Aspeed Technology autocorrelation shows the relationship between Aspeed Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Aspeed Technology.
Regressed Prices |
| Timeline |
Pair Trading with Aspeed Technology
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 Aspeed Technology 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 Aspeed Technology will appreciate offsetting losses from the drop in the long position's value.Moving together with Aspeed Stock
Moving against Aspeed Stock
| 0.7 | 6510 | Chunghwa Precision Test | PairCorr |
| 0.68 | 2357 | Asustek Computer | PairCorr |
| 0.68 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.47 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.42 | 0057 | Fubon MSCI Taiwan | PairCorr |
The ability to find closely correlated positions to Aspeed Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aspeed Technology 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 Aspeed Technology - 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 Aspeed Technology to buy it.
The correlation of Aspeed Technology 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 Aspeed Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aspeed Technology 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 Aspeed Technology 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 Aspeed Stock Analysis
When running Aspeed Technology's price analysis, check to measure Aspeed Technology'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 Aspeed Technology is operating at the current time. Most of Aspeed Technology's value examination focuses on studying past and present price action to predict the probability of Aspeed Technology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Aspeed Technology's price. Additionally, you may evaluate how the addition of Aspeed Technology to your portfolios can decrease your overall portfolio volatility.