Taiwan Union (Taiwan) Market Value
| 6274 Stock | TWD 182.00 2.00 1.09% |
| Symbol | Taiwan |
Taiwan Union '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 Union'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 Union.
| 11/16/2024 |
| 12/16/2024 |
If you would invest 0.00 in Taiwan Union on November 16, 2024 and sell it all today you would earn a total of 0.00 from holding Taiwan Union Technology or generate 0.0% return on investment in Taiwan Union over 30 days. Taiwan Union is related to or competes with Unimicron Technology, Nan Ya, Elite Material, Compeq Manufacturing, Tripod Technology, ITEQ Corp, and Pan International. Taiwan Union Technology Corporation operates in electronic industry in Taiwan, China, Japan, South Korea, the United Sta... More
Taiwan Union 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 Union'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 Union Technology upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.28 | |||
| Information Ratio | 0.0012 | |||
| Maximum Drawdown | 10.18 | |||
| Value At Risk | (3.65) | |||
| Potential Upside | 3.32 |
Taiwan Union Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Taiwan Union's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Taiwan Union's standard deviation. In reality, there are many statistical measures that can use Taiwan Union historical prices to predict the future Taiwan Union's volatility.| Risk Adjusted Performance | 0.0387 | |||
| Jensen Alpha | 0.0493 | |||
| Total Risk Alpha | (0.20) | |||
| Sortino Ratio | 0.0012 | |||
| Treynor Ratio | 0.192 |
Taiwan Union Technology Backtested Returns
At this stage we consider Taiwan Stock to be very steady. Taiwan Union Technology owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0404, which indicates the firm had a 0.0404% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Taiwan Union Technology, which you can use to evaluate the volatility of the company. Please validate Taiwan Union's Risk Adjusted Performance of 0.0387, coefficient of variation of 2279.99, and Semi Deviation of 1.98 to confirm if the risk estimate we provide is consistent with the expected return of 0.0921%. Taiwan Union has a performance score of 3 on a scale of 0 to 100. The entity has a beta of 0.48, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Taiwan Union's returns are expected to increase less than the market. However, during the bear market, the loss of holding Taiwan Union is expected to be smaller as well. Taiwan Union Technology right now has a risk of 2.28%. Please validate Taiwan Union downside deviation, information ratio, and the relationship between the semi deviation and coefficient of variation , to decide if Taiwan Union will be following its existing price patterns.
Auto-correlation | 0.48 |
Average predictability
Taiwan Union Technology has average predictability. Overlapping area represents the amount of predictability between Taiwan Union time series from 16th of November 2024 to 1st of December 2024 and 1st of December 2024 to 16th 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 Union Technology price movement. The serial correlation of 0.48 indicates that about 48.0% of current Taiwan Union price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 18.2 |
Taiwan Union Technology lagged returns against current returns
Autocorrelation, which is Taiwan Union 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 Union's stock expected returns. We can calculate the autocorrelation of Taiwan Union returns to help us make a trade decision. For example, suppose you find that Taiwan Union 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 Union 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 Union stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Taiwan Union stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Taiwan Union stock over time.
Current vs Lagged Prices |
| Timeline |
Taiwan Union Lagged Returns
When evaluating Taiwan Union's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Taiwan Union stock have on its future price. Taiwan Union 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 Union autocorrelation shows the relationship between Taiwan Union stock current value and its past values and can show if there is a momentum factor associated with investing in Taiwan Union Technology.
Regressed Prices |
| Timeline |
Pair Trading with Taiwan Union
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 Union 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 Union will appreciate offsetting losses from the drop in the long position's value.Moving together with Taiwan Stock
Moving against Taiwan Stock
| 0.71 | 3037 | Unimicron Technology Corp | PairCorr |
| 0.57 | 2328 | Pan International | PairCorr |
| 0.47 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.39 | 2882B | Cathay Financial Holding | PairCorr |
| 0.38 | 0057 | Fubon MSCI Taiwan | PairCorr |
The ability to find closely correlated positions to Taiwan Union 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 Union 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 Union - 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 Union Technology to buy it.
The correlation of Taiwan Union 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 Union moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taiwan Union 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 Taiwan Union 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 Union's price analysis, check to measure Taiwan Union'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 Union is operating at the current time. Most of Taiwan Union's value examination focuses on studying past and present price action to predict the probability of Taiwan Union'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 Union's price. Additionally, you may evaluate how the addition of Taiwan Union to your portfolios can decrease your overall portfolio volatility.