Foresee Pharmaceuticals (Taiwan) Market Value
| 6576 Stock | TWD 73.70 0.10 0.14% |
| Symbol | Foresee |
Foresee Pharmaceuticals '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 Foresee Pharmaceuticals' 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 Foresee Pharmaceuticals.
| 12/19/2023 |
| 12/13/2024 |
If you would invest 0.00 in Foresee Pharmaceuticals on December 19, 2023 and sell it all today you would earn a total of 0.00 from holding Foresee Pharmaceuticals Co or generate 0.0% return on investment in Foresee Pharmaceuticals over 360 days. Foresee Pharmaceuticals is related to or competes with Chia Yi, Chun Yuan, Daxin Materials, Ever Clear, Victory New, and Tung Ho. Foresee Pharmaceuticals Co., Ltd., clinical-stage pharmaceutical company, engages in the development and commercializati... More
Foresee Pharmaceuticals 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 Foresee Pharmaceuticals' 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 Foresee Pharmaceuticals Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 7.48 | |||
| Value At Risk | (2.07) | |||
| Potential Upside | 1.95 |
Foresee Pharmaceuticals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Foresee Pharmaceuticals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Foresee Pharmaceuticals' standard deviation. In reality, there are many statistical measures that can use Foresee Pharmaceuticals historical prices to predict the future Foresee Pharmaceuticals' volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.28) | |||
| Treynor Ratio | 1.71 |
Foresee Pharmaceuticals Backtested Returns
Foresee Pharmaceuticals secures Sharpe Ratio (or Efficiency) of -0.0977, which denotes the company had a -0.0977% return per unit of risk over the last 3 months. Foresee Pharmaceuticals Co exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Foresee Pharmaceuticals' Variance of 1.54, mean deviation of 0.8164, and Standard Deviation of 1.24 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0641, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Foresee Pharmaceuticals are expected to decrease at a much lower rate. During the bear market, Foresee Pharmaceuticals is likely to outperform the market. At this point, Foresee Pharmaceuticals has a negative expected return of -0.12%. Please make sure to confirm Foresee Pharmaceuticals' treynor ratio, potential upside, and the relationship between the total risk alpha and maximum drawdown , to decide if Foresee Pharmaceuticals performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.35 |
Poor reverse predictability
Foresee Pharmaceuticals Co has poor reverse predictability. Overlapping area represents the amount of predictability between Foresee Pharmaceuticals time series from 19th of December 2023 to 16th of June 2024 and 16th 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 Foresee Pharmaceuticals price movement. The serial correlation of -0.35 indicates that nearly 35.0% of current Foresee Pharmaceuticals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.35 | |
| Spearman Rank Test | 0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 20.55 |
Foresee Pharmaceuticals lagged returns against current returns
Autocorrelation, which is Foresee Pharmaceuticals 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 Foresee Pharmaceuticals' stock expected returns. We can calculate the autocorrelation of Foresee Pharmaceuticals returns to help us make a trade decision. For example, suppose you find that Foresee Pharmaceuticals 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 |
Foresee Pharmaceuticals 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 Foresee Pharmaceuticals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Foresee Pharmaceuticals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Foresee Pharmaceuticals stock over time.
Current vs Lagged Prices |
| Timeline |
Foresee Pharmaceuticals Lagged Returns
When evaluating Foresee Pharmaceuticals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Foresee Pharmaceuticals stock have on its future price. Foresee Pharmaceuticals 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, Foresee Pharmaceuticals autocorrelation shows the relationship between Foresee Pharmaceuticals stock current value and its past values and can show if there is a momentum factor associated with investing in Foresee Pharmaceuticals Co.
Regressed Prices |
| Timeline |
Pair Trading with Foresee Pharmaceuticals
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 Foresee Pharmaceuticals 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 Foresee Pharmaceuticals will appreciate offsetting losses from the drop in the long position's value.Moving together with Foresee Stock
Moving against Foresee Stock
| 0.58 | 2345 | Accton Technology Corp | PairCorr |
| 0.55 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.51 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.45 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.41 | 1591 | Inmax Holding | PairCorr |
The ability to find closely correlated positions to Foresee Pharmaceuticals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Foresee Pharmaceuticals 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 Foresee Pharmaceuticals - 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 Foresee Pharmaceuticals Co to buy it.
The correlation of Foresee Pharmaceuticals 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 Foresee Pharmaceuticals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Foresee Pharmaceuticals 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 Foresee Pharmaceuticals 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 Foresee Stock Analysis
When running Foresee Pharmaceuticals' price analysis, check to measure Foresee Pharmaceuticals' 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 Foresee Pharmaceuticals is operating at the current time. Most of Foresee Pharmaceuticals' value examination focuses on studying past and present price action to predict the probability of Foresee Pharmaceuticals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Foresee Pharmaceuticals' price. Additionally, you may evaluate how the addition of Foresee Pharmaceuticals to your portfolios can decrease your overall portfolio volatility.