Test Research (Taiwan) Market Value
| 3030 Stock | TWD 133.50 3.50 2.55% |
| Symbol | Test |
Test Research '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 Research'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 Research.
| 05/31/2024 |
| 11/27/2024 |
If you would invest 0.00 in Test Research on May 31, 2024 and sell it all today you would earn a total of 0.00 from holding Test Research or generate 0.0% return on investment in Test Research over 180 days. Test Research is related to or competes with Sitronix Technology, Elan Microelectronics, Global Unichip, and Holtek Semiconductor. Test Research, Inc. provides PCBA testing and inspection products More
Test Research 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 Research'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 Research upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 14.57 | |||
| Value At Risk | (5.76) | |||
| Potential Upside | 4.15 |
Test Research Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Test Research's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Test Research's standard deviation. In reality, there are many statistical measures that can use Test Research historical prices to predict the future Test Research's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.26) | |||
| Total Risk Alpha | (0.69) | |||
| Treynor Ratio | (0.30) |
Test Research Backtested Returns
Test Research owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.069, which indicates the firm had a -0.069% return per unit of risk over the last 3 months. Test Research exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Test Research's Coefficient Of Variation of (1,806), variance of 10.07, and Risk Adjusted Performance of (0.03) to confirm the risk estimate we provide. The entity has a beta of 0.62, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Test Research's returns are expected to increase less than the market. However, during the bear market, the loss of holding Test Research is expected to be smaller as well. At this point, Test Research has a negative expected return of -0.22%. Please make sure to validate Test Research's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Test Research performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.52 |
Modest predictability
Test Research has modest predictability. Overlapping area represents the amount of predictability between Test Research time series from 31st of May 2024 to 29th of August 2024 and 29th of August 2024 to 27th 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 Research price movement. The serial correlation of 0.52 indicates that about 52.0% of current Test Research price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 48.87 |
Test Research lagged returns against current returns
Autocorrelation, which is Test Research 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 Research's stock expected returns. We can calculate the autocorrelation of Test Research returns to help us make a trade decision. For example, suppose you find that Test Research 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 Research 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 Research stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Test Research stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Test Research stock over time.
Current vs Lagged Prices |
| Timeline |
Test Research Lagged Returns
When evaluating Test Research's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Test Research stock have on its future price. Test Research 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 Research autocorrelation shows the relationship between Test Research stock current value and its past values and can show if there is a momentum factor associated with investing in Test Research.
Regressed Prices |
| Timeline |
Also Currently Popular
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 Research's price analysis, check to measure Test Research'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 Research is operating at the current time. Most of Test Research's value examination focuses on studying past and present price action to predict the probability of Test Research'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 Research's price. Additionally, you may evaluate how the addition of Test Research to your portfolios can decrease your overall portfolio volatility.