Tehmag Foods (Taiwan) Market Value
| 1264 Stock | TWD 304.50 3.00 1.00% |
| Symbol | Tehmag |
Tehmag Foods '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 Tehmag Foods' 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 Tehmag Foods.
| 02/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Tehmag Foods on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Tehmag Foods or generate 0.0% return on investment in Tehmag Foods over 270 days. Tehmag Foods is related to or competes with Uni President, Tingyi Holding, Lien Hwa, Great Wall, Standard Foods, Microbio, and TTET Union. Tehmag Foods Corporation operates in the baking industry in Taiwan More
Tehmag Foods 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 Tehmag Foods' 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 Tehmag Foods upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.51) | |||
| Maximum Drawdown | 1.59 | |||
| Value At Risk | (0.65) | |||
| Potential Upside | 0.6339 |
Tehmag Foods Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tehmag Foods' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tehmag Foods' standard deviation. In reality, there are many statistical measures that can use Tehmag Foods historical prices to predict the future Tehmag Foods' volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.14) | |||
| Treynor Ratio | 10.87 |
Tehmag Foods Backtested Returns
Tehmag Foods owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.19, which indicates the firm had a -0.19% return per unit of risk over the last 3 months. Tehmag Foods exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tehmag Foods' Variance of 0.149, coefficient of variation of (594.18), and Risk Adjusted Performance of (0.14) to confirm the risk estimate we provide. The entity has a beta of -0.0069, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Tehmag Foods are expected to decrease at a much lower rate. During the bear market, Tehmag Foods is likely to outperform the market. At this point, Tehmag Foods has a negative expected return of -0.0706%. Please make sure to validate Tehmag Foods' market risk adjusted performance, coefficient of variation, jensen alpha, as well as the relationship between the mean deviation and standard deviation , to decide if Tehmag Foods performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.56 |
Good reverse predictability
Tehmag Foods has good reverse predictability. Overlapping area represents the amount of predictability between Tehmag Foods time series from 27th of February 2024 to 11th of July 2024 and 11th of July 2024 to 23rd of November 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 Tehmag Foods price movement. The serial correlation of -0.56 indicates that roughly 56.0% of current Tehmag Foods price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.56 | |
| Spearman Rank Test | -0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 31.3 |
Tehmag Foods lagged returns against current returns
Autocorrelation, which is Tehmag Foods 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 Tehmag Foods' stock expected returns. We can calculate the autocorrelation of Tehmag Foods returns to help us make a trade decision. For example, suppose you find that Tehmag Foods 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 |
Tehmag Foods 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 Tehmag Foods stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tehmag Foods stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tehmag Foods stock over time.
Current vs Lagged Prices |
| Timeline |
Tehmag Foods Lagged Returns
When evaluating Tehmag Foods' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tehmag Foods stock have on its future price. Tehmag Foods 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, Tehmag Foods autocorrelation shows the relationship between Tehmag Foods stock current value and its past values and can show if there is a momentum factor associated with investing in Tehmag Foods.
Regressed Prices |
| Timeline |
Pair Trading with Tehmag Foods
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 Tehmag Foods 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 Tehmag Foods will appreciate offsetting losses from the drop in the long position's value.Moving together with Tehmag Stock
Moving against Tehmag Stock
| 0.84 | 1231 | Lian Hwa Foods | PairCorr |
| 0.68 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.66 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.63 | 1235 | Shin Tai Industry Split | PairCorr |
| 0.59 | 0053 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Tehmag Foods could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tehmag Foods 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 Tehmag Foods - 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 Tehmag Foods to buy it.
The correlation of Tehmag Foods 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 Tehmag Foods moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tehmag Foods 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 Tehmag Foods 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 Tehmag Stock Analysis
When running Tehmag Foods' price analysis, check to measure Tehmag Foods' 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 Tehmag Foods is operating at the current time. Most of Tehmag Foods' value examination focuses on studying past and present price action to predict the probability of Tehmag Foods' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tehmag Foods' price. Additionally, you may evaluate how the addition of Tehmag Foods to your portfolios can decrease your overall portfolio volatility.