Progate (Taiwan) Market Value
| 8227 Stock | 162.50 4.50 2.69% |
| Symbol | Progate |
Please note, there is a significant difference between Progate's value and its price as these two are different measures arrived at by different means. Investors typically determine if Progate is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Progate's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Progate '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 Progate'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 Progate.
| 11/15/2024 |
| 12/15/2024 |
If you would invest 0.00 in Progate on November 15, 2024 and sell it all today you would earn a total of 0.00 from holding Progate Group or generate 0.0% return on investment in Progate over 30 days. Progate is related to or competes with Taiwan Semiconductor, Hon Hai, MediaTek, Chunghwa Telecom, Formosa Petrochemical, Delta Electronics, and Cathay Financial. More
Progate 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 Progate'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 Progate Group upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 15.51 | |||
| Value At Risk | (3.33) | |||
| Potential Upside | 3.92 |
Progate Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Progate's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Progate's standard deviation. In reality, there are many statistical measures that can use Progate historical prices to predict the future Progate's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.41) | |||
| Treynor Ratio | 1.13 |
Progate Group Backtested Returns
Progate Group maintains Sharpe Ratio (i.e., Efficiency) of -0.0706, which implies the firm had a -0.0706% return per unit of risk over the last 3 months. Progate Group exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Progate's Coefficient Of Variation of (4,036), risk adjusted performance of (0.01), and Variance of 7.38 to confirm the risk estimate we provide. The company holds a Beta of -0.0683, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Progate are expected to decrease at a much lower rate. During the bear market, Progate is likely to outperform the market. At this point, Progate Group has a negative expected return of -0.19%. Please make sure to check Progate's jensen alpha, treynor ratio, value at risk, as well as the relationship between the total risk alpha and maximum drawdown , to decide if Progate Group performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.15 |
Insignificant reverse predictability
Progate Group has insignificant reverse predictability. Overlapping area represents the amount of predictability between Progate time series from 15th of November 2024 to 30th of November 2024 and 30th of November 2024 to 15th 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 Progate Group price movement. The serial correlation of -0.15 indicates that less than 15.0% of current Progate price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.15 | |
| Spearman Rank Test | -0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 64.88 |
Progate Group lagged returns against current returns
Autocorrelation, which is Progate 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 Progate's stock expected returns. We can calculate the autocorrelation of Progate returns to help us make a trade decision. For example, suppose you find that Progate 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 |
Progate 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 Progate stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Progate stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Progate stock over time.
Current vs Lagged Prices |
| Timeline |
Progate Lagged Returns
When evaluating Progate's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Progate stock have on its future price. Progate 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, Progate autocorrelation shows the relationship between Progate stock current value and its past values and can show if there is a momentum factor associated with investing in Progate Group.
Regressed Prices |
| Timeline |
Pair Trading with Progate
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 Progate 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 Progate will appreciate offsetting losses from the drop in the long position's value.Moving together with Progate Stock
Moving against Progate Stock
| 0.8 | 8935 | Pontex Polyblend CoLtd | PairCorr |
| 0.45 | 2321 | Tecom | PairCorr |
| 0.43 | 2454 | MediaTek | PairCorr |
| 0.41 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.36 | 2317 | Hon Hai Precision | PairCorr |
The ability to find closely correlated positions to Progate could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Progate 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 Progate - 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 Progate Group to buy it.
The correlation of Progate 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 Progate moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Progate Group 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 Progate 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 Progate Stock Analysis
When running Progate's price analysis, check to measure Progate'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 Progate is operating at the current time. Most of Progate's value examination focuses on studying past and present price action to predict the probability of Progate's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Progate's price. Additionally, you may evaluate how the addition of Progate to your portfolios can decrease your overall portfolio volatility.