Highlight Tech (Taiwan) Market Value
| 6208 Stock | TWD 44.25 0.35 0.78% |
| Symbol | Highlight |
Highlight Tech '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 Highlight Tech'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 Highlight Tech.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in Highlight Tech on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding Highlight Tech or generate 0.0% return on investment in Highlight Tech over 90 days. Highlight Tech is related to or competes with AzureWave Technologies, Weltrend Semiconductor, Advanced Wireless, Taiwan Semiconductor, Davicom Semiconductor, Ichia Technologies, and SciVision Biotech. More
Highlight Tech 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 Highlight Tech'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 Highlight Tech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 9.14 | |||
| Value At Risk | (3.11) | |||
| Potential Upside | 2.52 |
Highlight Tech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Highlight Tech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Highlight Tech's standard deviation. In reality, there are many statistical measures that can use Highlight Tech historical prices to predict the future Highlight Tech's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.25) | |||
| Total Risk Alpha | (0.06) | |||
| Treynor Ratio | 4.93 |
Highlight Tech Backtested Returns
Highlight Tech holds Efficiency (Sharpe) Ratio of -0.17, which attests that the entity had a -0.17 % return per unit of risk over the last 3 months. Highlight Tech exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Highlight Tech's Market Risk Adjusted Performance of 4.94, risk adjusted performance of (0.13), and Standard Deviation of 1.47 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.0491, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Highlight Tech are expected to decrease at a much lower rate. During the bear market, Highlight Tech is likely to outperform the market. At this point, Highlight Tech has a negative expected return of -0.25%. Please make sure to check out Highlight Tech's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Highlight Tech performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.20 |
Weak predictability
Highlight Tech has weak predictability. Overlapping area represents the amount of predictability between Highlight Tech time series from 17th of December 2024 to 31st of January 2025 and 31st of January 2025 to 17th 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 Highlight Tech price movement. The serial correlation of 0.2 indicates that over 20.0% of current Highlight Tech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | 0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 2.61 |
Highlight Tech lagged returns against current returns
Autocorrelation, which is Highlight Tech 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 Highlight Tech's stock expected returns. We can calculate the autocorrelation of Highlight Tech returns to help us make a trade decision. For example, suppose you find that Highlight Tech 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 |
Highlight Tech 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 Highlight Tech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Highlight Tech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Highlight Tech stock over time.
Current vs Lagged Prices |
| Timeline |
Highlight Tech Lagged Returns
When evaluating Highlight Tech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Highlight Tech stock have on its future price. Highlight Tech 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, Highlight Tech autocorrelation shows the relationship between Highlight Tech stock current value and its past values and can show if there is a momentum factor associated with investing in Highlight Tech.
Regressed Prices |
| Timeline |
Pair Trading with Highlight Tech
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 Highlight Tech 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 Highlight Tech will appreciate offsetting losses from the drop in the long position's value.Moving against Highlight Stock
| 0.73 | 2421 | Sunonwealth Electric | PairCorr |
| 0.47 | 4532 | Rechi Precision | PairCorr |
| 0.37 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.37 | 2474 | Catcher Technology | PairCorr |
The ability to find closely correlated positions to Highlight Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Highlight Tech 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 Highlight Tech - 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 Highlight Tech to buy it.
The correlation of Highlight Tech 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 Highlight Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Highlight Tech 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 Highlight Tech 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 Highlight Stock Analysis
When running Highlight Tech's price analysis, check to measure Highlight Tech'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 Highlight Tech is operating at the current time. Most of Highlight Tech's value examination focuses on studying past and present price action to predict the probability of Highlight Tech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Highlight Tech's price. Additionally, you may evaluate how the addition of Highlight Tech to your portfolios can decrease your overall portfolio volatility.