Thien Long (Vietnam) Market Value
| TLG Stock | 69,600 100.00 0.14% |
| Symbol | Thien |
Thien Long '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 Thien Long'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 Thien Long.
| 12/29/2022 |
| 12/18/2024 |
If you would invest 0.00 in Thien Long on December 29, 2022 and sell it all today you would earn a total of 0.00 from holding Thien Long Group or generate 0.0% return on investment in Thien Long over 720 days.
Thien Long 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 Thien Long'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 Thien Long Group upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.96 | |||
| Information Ratio | 0.1755 | |||
| Maximum Drawdown | 14.15 | |||
| Value At Risk | (2.62) | |||
| Potential Upside | 4.88 |
Thien Long Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Thien Long's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Thien Long's standard deviation. In reality, there are many statistical measures that can use Thien Long historical prices to predict the future Thien Long's volatility.| Risk Adjusted Performance | 0.1556 | |||
| Jensen Alpha | 0.4857 | |||
| Total Risk Alpha | 0.2748 | |||
| Sortino Ratio | 0.2028 | |||
| Treynor Ratio | (0.86) |
Thien Long Group Backtested Returns
Thien Long appears to be very steady, given 3 months investment horizon. Thien Long Group owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.21, which indicates the firm had a 0.21% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Thien Long Group, which you can use to evaluate the volatility of the company. Please review Thien Long's Semi Deviation of 1.65, coefficient of variation of 486.94, and Risk Adjusted Performance of 0.1556 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Thien Long holds a performance score of 16. The entity has a beta of -0.53, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Thien Long are expected to decrease at a much lower rate. During the bear market, Thien Long is likely to outperform the market. Please check Thien Long's sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to make a quick decision on whether Thien Long's existing price patterns will revert.
Auto-correlation | 0.06 |
Virtually no predictability
Thien Long Group has virtually no predictability. Overlapping area represents the amount of predictability between Thien Long time series from 29th of December 2022 to 24th of December 2023 and 24th of December 2023 to 18th 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 Thien Long Group price movement. The serial correlation of 0.06 indicates that barely 6.0% of current Thien Long price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.06 | |
| Spearman Rank Test | 0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 29.8 M |
Thien Long Group lagged returns against current returns
Autocorrelation, which is Thien Long 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 Thien Long's stock expected returns. We can calculate the autocorrelation of Thien Long returns to help us make a trade decision. For example, suppose you find that Thien Long 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 |
Thien Long 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 Thien Long stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Thien Long stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Thien Long stock over time.
Current vs Lagged Prices |
| Timeline |
Thien Long Lagged Returns
When evaluating Thien Long's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Thien Long stock have on its future price. Thien Long 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, Thien Long autocorrelation shows the relationship between Thien Long stock current value and its past values and can show if there is a momentum factor associated with investing in Thien Long Group.
Regressed Prices |
| Timeline |
Pair Trading with Thien Long
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 Thien Long 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 Thien Long will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Thien Long could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Thien Long 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 Thien Long - 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 Thien Long Group to buy it.
The correlation of Thien Long 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 Thien Long moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Thien Long 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 Thien Long 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.