Promise Technology (Taiwan) Market Value
| 3057 Stock | TWD 12.15 0.05 0.41% |
| Symbol | Promise |
Promise Technology '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 Promise Technology'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 Promise Technology.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Promise Technology on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Promise Technology or generate 0.0% return on investment in Promise Technology over 720 days. Promise Technology is related to or competes with Novatek Microelectronics, Quanta Computer, and United Microelectronics. PROMISE Technology, Inc. develops storage solutions for the data center, surveillance, cloud, and rich media markets wor... More
Promise Technology 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 Promise Technology'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 Promise Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 8.55 | |||
| Value At Risk | (2.40) | |||
| Potential Upside | 2.02 |
Promise Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Promise Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Promise Technology's standard deviation. In reality, there are many statistical measures that can use Promise Technology historical prices to predict the future Promise Technology's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.34) | |||
| Treynor Ratio | (0.33) |
Promise Technology Backtested Returns
Promise Technology maintains Sharpe Ratio (i.e., Efficiency) of -0.0416, which implies the firm had a -0.0416% return per unit of risk over the last 3 months. Promise Technology exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Promise Technology's Coefficient Of Variation of (1,662), variance of 2.29, and Risk Adjusted Performance of (0.04) to confirm the risk estimate we provide. The company holds a Beta of 0.31, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Promise Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Promise Technology is expected to be smaller as well. At this point, Promise Technology has a negative expected return of -0.0637%. Please make sure to check Promise Technology's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Promise Technology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.53 |
Modest predictability
Promise Technology has modest predictability. Overlapping area represents the amount of predictability between Promise Technology time series from 5th of December 2022 to 30th of November 2023 and 30th of November 2023 to 24th 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 Promise Technology price movement. The serial correlation of 0.53 indicates that about 53.0% of current Promise Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 1.13 |
Promise Technology lagged returns against current returns
Autocorrelation, which is Promise Technology 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 Promise Technology's stock expected returns. We can calculate the autocorrelation of Promise Technology returns to help us make a trade decision. For example, suppose you find that Promise Technology 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 |
Promise Technology 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 Promise Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Promise Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Promise Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Promise Technology Lagged Returns
When evaluating Promise Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Promise Technology stock have on its future price. Promise Technology 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, Promise Technology autocorrelation shows the relationship between Promise Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Promise Technology.
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 Promise Stock Analysis
When running Promise Technology's price analysis, check to measure Promise Technology'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 Promise Technology is operating at the current time. Most of Promise Technology's value examination focuses on studying past and present price action to predict the probability of Promise Technology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Promise Technology's price. Additionally, you may evaluate how the addition of Promise Technology to your portfolios can decrease your overall portfolio volatility.