Top Glove (Malaysia) Market Value
| 7113 Stock | 0.86 0.02 2.38% |
| Symbol | Top |
Top Glove '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 Top Glove'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 Top Glove.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in Top Glove on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding Top Glove or generate 0.0% return on investment in Top Glove over 90 days. Top Glove is related to or competes with Sunway Construction, Advanced Packaging, Techbond Group, Radiant Globaltech, and Systech Bhd. More
Top Glove 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 Top Glove'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 Top Glove upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 20.61 | |||
| Value At Risk | (5.56) | |||
| Potential Upside | 3.79 |
Top Glove Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Top Glove's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Top Glove's standard deviation. In reality, there are many statistical measures that can use Top Glove historical prices to predict the future Top Glove's volatility.| Risk Adjusted Performance | (0.17) | |||
| Jensen Alpha | (0.54) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | (0.98) |
Top Glove Backtested Returns
Top Glove owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.23, which indicates the firm had a -0.23 % return per unit of risk over the last 3 months. Top Glove exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Top Glove's Variance of 8.97, risk adjusted performance of (0.17), and Coefficient Of Variation of (497.87) to confirm the risk estimate we provide. The entity has a beta of 0.63, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Top Glove's returns are expected to increase less than the market. However, during the bear market, the loss of holding Top Glove is expected to be smaller as well. At this point, Top Glove has a negative expected return of -0.66%. Please make sure to validate Top Glove's jensen alpha, treynor ratio, value at risk, as well as the relationship between the total risk alpha and maximum drawdown , to decide if Top Glove performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.86 |
Very good predictability
Top Glove has very good predictability. Overlapping area represents the amount of predictability between Top Glove 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 Top Glove price movement. The serial correlation of 0.86 indicates that approximately 86.0% of current Top Glove price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.86 | |
| Spearman Rank Test | 0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Top Glove lagged returns against current returns
Autocorrelation, which is Top Glove 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 Top Glove's stock expected returns. We can calculate the autocorrelation of Top Glove returns to help us make a trade decision. For example, suppose you find that Top Glove 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 |
Top Glove 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 Top Glove stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Top Glove stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Top Glove stock over time.
Current vs Lagged Prices |
| Timeline |
Top Glove Lagged Returns
When evaluating Top Glove's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Top Glove stock have on its future price. Top Glove 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, Top Glove autocorrelation shows the relationship between Top Glove stock current value and its past values and can show if there is a momentum factor associated with investing in Top Glove.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Top Stock
Top Glove financial ratios help investors to determine whether Top Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Top with respect to the benefits of owning Top Glove security.