United Microelectronics (Germany) Market Value
| UMCB Stock | 6.30 0.05 0.80% |
| Symbol | United |
United Microelectronics '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 United Microelectronics' 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 United Microelectronics.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in United Microelectronics on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding United Microelectronics Corp or generate 0.0% return on investment in United Microelectronics over 30 days. United Microelectronics is related to or competes with Apple, Apple, Apple, Apple, Apple, Apple, and Microsoft. More
United Microelectronics 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 United Microelectronics' 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 United Microelectronics Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 8.8 | |||
| Value At Risk | (3.38) | |||
| Potential Upside | 2.68 |
United Microelectronics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for United Microelectronics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as United Microelectronics' standard deviation. In reality, there are many statistical measures that can use United Microelectronics historical prices to predict the future United Microelectronics' volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.37) | |||
| Total Risk Alpha | (0.66) | |||
| Treynor Ratio | (0.93) |
United Microelectronics Backtested Returns
United Microelectronics owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.16, which indicates the firm had a -0.16% return per unit of risk over the last 3 months. United Microelectronics Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate United Microelectronics' Risk Adjusted Performance of (0.11), coefficient of variation of (636.86), and Variance of 3.97 to confirm the risk estimate we provide. The entity has a beta of 0.35, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, United Microelectronics' returns are expected to increase less than the market. However, during the bear market, the loss of holding United Microelectronics is expected to be smaller as well. At this point, United Microelectronics has a negative expected return of -0.31%. Please make sure to validate United Microelectronics' total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if United Microelectronics performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.05 |
Very weak reverse predictability
United Microelectronics Corp has very weak reverse predictability. Overlapping area represents the amount of predictability between United Microelectronics time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 United Microelectronics price movement. The serial correlation of -0.05 indicates that only as little as 5.0% of current United Microelectronics price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.05 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
United Microelectronics lagged returns against current returns
Autocorrelation, which is United Microelectronics 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 United Microelectronics' stock expected returns. We can calculate the autocorrelation of United Microelectronics returns to help us make a trade decision. For example, suppose you find that United Microelectronics 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 |
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United Microelectronics 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 United Microelectronics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if United Microelectronics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in United Microelectronics stock over time.
Current vs Lagged Prices |
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United Microelectronics Lagged Returns
When evaluating United Microelectronics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of United Microelectronics stock have on its future price. United Microelectronics 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, United Microelectronics autocorrelation shows the relationship between United Microelectronics stock current value and its past values and can show if there is a momentum factor associated with investing in United Microelectronics Corp.
Regressed Prices |
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Thematic Opportunities
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Additional Tools for United Stock Analysis
When running United Microelectronics' price analysis, check to measure United Microelectronics' 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 United Microelectronics is operating at the current time. Most of United Microelectronics' value examination focuses on studying past and present price action to predict the probability of United Microelectronics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move United Microelectronics' price. Additionally, you may evaluate how the addition of United Microelectronics to your portfolios can decrease your overall portfolio volatility.