Level Biotechnology (Taiwan) Market Value
| 3118 Stock | TWD 32.20 0.10 0.31% |
| Symbol | Level |
Level Biotechnology '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 Level Biotechnology'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 Level Biotechnology.
| 12/12/2022 |
| 12/01/2024 |
If you would invest 0.00 in Level Biotechnology on December 12, 2022 and sell it all today you would earn a total of 0.00 from holding Level Biotechnology or generate 0.0% return on investment in Level Biotechnology over 720 days. Level Biotechnology is related to or competes with Medigen Vaccine, TaiMed Biologics, Adimmune Corp, and PharmaEngine. Level Biotechnology Inc. markets and distributes cell culture, immunology, molecular biology products and biomedical pre... More
Level Biotechnology 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 Level Biotechnology'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 Level Biotechnology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 3.74 | |||
| Value At Risk | (1.09) | |||
| Potential Upside | 1.07 |
Level Biotechnology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Level Biotechnology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Level Biotechnology's standard deviation. In reality, there are many statistical measures that can use Level Biotechnology historical prices to predict the future Level Biotechnology's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.15) | |||
| Treynor Ratio | (0.29) |
Level Biotechnology Backtested Returns
Level Biotechnology has Sharpe Ratio of -0.0549, which conveys that the firm had a -0.0549% return per unit of risk over the last 3 months. Level Biotechnology exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Level Biotechnology's Standard Deviation of 0.6895, risk adjusted performance of (0.03), and Mean Deviation of 0.4843 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.13, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Level Biotechnology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Level Biotechnology is expected to be smaller as well. At this point, Level Biotechnology has a negative expected return of -0.0383%. Please make sure to verify Level Biotechnology's treynor ratio, value at risk, skewness, as well as the relationship between the maximum drawdown and potential upside , to decide if Level Biotechnology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.76 |
Good predictability
Level Biotechnology has good predictability. Overlapping area represents the amount of predictability between Level Biotechnology time series from 12th of December 2022 to 7th of December 2023 and 7th of December 2023 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 Level Biotechnology price movement. The serial correlation of 0.76 indicates that around 76.0% of current Level Biotechnology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.76 | |
| Spearman Rank Test | 0.6 | |
| Residual Average | 0.0 | |
| Price Variance | 2.51 |
Level Biotechnology lagged returns against current returns
Autocorrelation, which is Level Biotechnology 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 Level Biotechnology's stock expected returns. We can calculate the autocorrelation of Level Biotechnology returns to help us make a trade decision. For example, suppose you find that Level Biotechnology 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 |
Level Biotechnology 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 Level Biotechnology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Level Biotechnology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Level Biotechnology stock over time.
Current vs Lagged Prices |
| Timeline |
Level Biotechnology Lagged Returns
When evaluating Level Biotechnology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Level Biotechnology stock have on its future price. Level Biotechnology 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, Level Biotechnology autocorrelation shows the relationship between Level Biotechnology stock current value and its past values and can show if there is a momentum factor associated with investing in Level Biotechnology.
Regressed Prices |
| Timeline |
Pair Trading with Level Biotechnology
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 Level Biotechnology 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 Level Biotechnology will appreciate offsetting losses from the drop in the long position's value.Moving together with Level Stock
Moving against Level Stock
| 0.68 | 2891B | CTBC Financial Holding | PairCorr |
| 0.56 | 2891 | CTBC Financial Holding | PairCorr |
| 0.55 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.54 | 2883 | China Development | PairCorr |
| 0.48 | 4162 | PharmaEngine | PairCorr |
The ability to find closely correlated positions to Level Biotechnology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Level Biotechnology 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 Level Biotechnology - 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 Level Biotechnology to buy it.
The correlation of Level Biotechnology 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 Level Biotechnology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Level Biotechnology 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 Level Biotechnology 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 Level Stock Analysis
When running Level Biotechnology's price analysis, check to measure Level Biotechnology'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 Level Biotechnology is operating at the current time. Most of Level Biotechnology's value examination focuses on studying past and present price action to predict the probability of Level Biotechnology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Level Biotechnology's price. Additionally, you may evaluate how the addition of Level Biotechnology to your portfolios can decrease your overall portfolio volatility.