Kuo Toong (Taiwan) Market Value
| 8936 Stock | TWD 49.80 0.20 0.40% |
| Symbol | Kuo |
Kuo Toong '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 Kuo Toong'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 Kuo Toong.
| 11/22/2024 |
| 12/22/2024 |
If you would invest 0.00 in Kuo Toong on November 22, 2024 and sell it all today you would earn a total of 0.00 from holding Kuo Toong International or generate 0.0% return on investment in Kuo Toong over 30 days. Kuo Toong is related to or competes with Nankang Rubber, Rich Development, Kung Sing, Advanced Lithium, and China Glaze. Kuo Toong International Co., Ltd. designs, produces, and assembles water supply and division pipes in Taiwan More
Kuo Toong 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 Kuo Toong'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 Kuo Toong International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 14.04 | |||
| Value At Risk | (3.00) | |||
| Potential Upside | 2.9 |
Kuo Toong Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kuo Toong's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kuo Toong's standard deviation. In reality, there are many statistical measures that can use Kuo Toong historical prices to predict the future Kuo Toong's volatility.| Risk Adjusted Performance | (0.17) | |||
| Jensen Alpha | (0.44) | |||
| Total Risk Alpha | (0.50) | |||
| Treynor Ratio | 2.11 |
Kuo Toong International Backtested Returns
Kuo Toong International has Sharpe Ratio of -0.21, which conveys that the firm had a -0.21% return per unit of risk over the last 3 months. Kuo Toong exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Kuo Toong's Risk Adjusted Performance of (0.17), mean deviation of 1.4, and Standard Deviation of 2.01 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.21, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Kuo Toong are expected to decrease at a much lower rate. During the bear market, Kuo Toong is likely to outperform the market. At this point, Kuo Toong International has a negative expected return of -0.42%. Please make sure to verify Kuo Toong's jensen alpha, treynor ratio, value at risk, as well as the relationship between the total risk alpha and maximum drawdown , to decide if Kuo Toong International performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.36 |
Poor reverse predictability
Kuo Toong International has poor reverse predictability. Overlapping area represents the amount of predictability between Kuo Toong time series from 22nd of November 2024 to 7th of December 2024 and 7th of December 2024 to 22nd 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 Kuo Toong International price movement. The serial correlation of -0.36 indicates that just about 36.0% of current Kuo Toong price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.36 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 3.3 |
Kuo Toong International lagged returns against current returns
Autocorrelation, which is Kuo Toong 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 Kuo Toong's stock expected returns. We can calculate the autocorrelation of Kuo Toong returns to help us make a trade decision. For example, suppose you find that Kuo Toong 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 |
Kuo Toong 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 Kuo Toong stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kuo Toong stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kuo Toong stock over time.
Current vs Lagged Prices |
| Timeline |
Kuo Toong Lagged Returns
When evaluating Kuo Toong's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kuo Toong stock have on its future price. Kuo Toong 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, Kuo Toong autocorrelation shows the relationship between Kuo Toong stock current value and its past values and can show if there is a momentum factor associated with investing in Kuo Toong International.
Regressed Prices |
| Timeline |
Pair Trading with Kuo Toong
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 Kuo Toong 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 Kuo Toong will appreciate offsetting losses from the drop in the long position's value.Moving together with Kuo Stock
Moving against Kuo Stock
| 0.92 | 3702A | WPG Holdings | PairCorr |
| 0.87 | 2404 | United Integrated | PairCorr |
| 0.86 | 2618 | Eva Airways Corp | PairCorr |
| 0.85 | 2883B | CHINA DEVELOPMENT | PairCorr |
| 0.82 | 2324 | Compal Electronics | PairCorr |
The ability to find closely correlated positions to Kuo Toong could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kuo Toong 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 Kuo Toong - 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 Kuo Toong International to buy it.
The correlation of Kuo Toong 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 Kuo Toong moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kuo Toong International 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 Kuo Toong 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 Kuo Stock Analysis
When running Kuo Toong's price analysis, check to measure Kuo Toong'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 Kuo Toong is operating at the current time. Most of Kuo Toong's value examination focuses on studying past and present price action to predict the probability of Kuo Toong's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Kuo Toong's price. Additionally, you may evaluate how the addition of Kuo Toong to your portfolios can decrease your overall portfolio volatility.