Test Rite (Taiwan) Market Value
| 2908 Stock | TWD 20.15 0.15 0.74% |
| Symbol | Test |
Test Rite '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 Test Rite'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 Test Rite.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Test Rite on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Test Rite International or generate 0.0% return on investment in Test Rite over 30 days. Test Rite is related to or competes with Chaintech Technology, AVerMedia Technologies, Avision, Clevo, and Elitegroup Computer. Test-Rite International Co., Ltd. imports and exports hand tools, auto parts, machinery, furniture, and various home app... More
Test Rite 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 Test Rite'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 Test Rite International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.32) | |||
| Maximum Drawdown | 2.89 | |||
| Value At Risk | (0.74) | |||
| Potential Upside | 0.7407 |
Test Rite Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Test Rite's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Test Rite's standard deviation. In reality, there are many statistical measures that can use Test Rite historical prices to predict the future Test Rite's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.14) | |||
| Treynor Ratio | (0.60) |
Test Rite International Backtested Returns
Test Rite International owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0826, which indicates the firm had a -0.0826% return per unit of risk over the last 3 months. Test Rite International exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Test Rite's Coefficient Of Variation of (1,096), risk adjusted performance of (0.07), and Variance of 0.3031 to confirm the risk estimate we provide. The entity has a beta of 0.0999, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Test Rite's returns are expected to increase less than the market. However, during the bear market, the loss of holding Test Rite is expected to be smaller as well. At this point, Test Rite International has a negative expected return of -0.0451%. Please make sure to validate Test Rite's treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Test Rite International performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.55 |
Modest predictability
Test Rite International has modest predictability. Overlapping area represents the amount of predictability between Test Rite time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 Test Rite International price movement. The serial correlation of 0.55 indicates that about 55.0% of current Test Rite price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.55 | |
| Spearman Rank Test | -0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Test Rite International lagged returns against current returns
Autocorrelation, which is Test Rite 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 Test Rite's stock expected returns. We can calculate the autocorrelation of Test Rite returns to help us make a trade decision. For example, suppose you find that Test Rite 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 |
Test Rite 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 Test Rite stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Test Rite stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Test Rite stock over time.
Current vs Lagged Prices |
| Timeline |
Test Rite Lagged Returns
When evaluating Test Rite's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Test Rite stock have on its future price. Test Rite 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, Test Rite autocorrelation shows the relationship between Test Rite stock current value and its past values and can show if there is a momentum factor associated with investing in Test Rite International.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Test Stock Analysis
When running Test Rite's price analysis, check to measure Test Rite'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 Test Rite is operating at the current time. Most of Test Rite's value examination focuses on studying past and present price action to predict the probability of Test Rite's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Test Rite's price. Additionally, you may evaluate how the addition of Test Rite to your portfolios can decrease your overall portfolio volatility.