Grand Plastic (Taiwan) Market Value
| 3131 Stock | TWD 1,645 5.00 0.30% |
| Symbol | Grand |
Grand Plastic '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 Grand Plastic'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 Grand Plastic.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in Grand Plastic on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding Grand Plastic Technology or generate 0.0% return on investment in Grand Plastic over 720 days. Grand Plastic is related to or competes with Powertech Technology, Formosa Sumco, Radiant Opto, Faraday Technology, Tong Hsing, Topco Scientific, and Elan Microelectronics. Grand Plastic Technology Corporation engages in the design, development, system customization, assembly, testing, produc... More
Grand Plastic 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 Grand Plastic'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 Grand Plastic Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 15.93 | |||
| Value At Risk | (5.88) | |||
| Potential Upside | 6.08 |
Grand Plastic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Grand Plastic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Grand Plastic's standard deviation. In reality, there are many statistical measures that can use Grand Plastic historical prices to predict the future Grand Plastic's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.32) | |||
| Total Risk Alpha | (0.82) | |||
| Treynor Ratio | (0.49) |
Grand Plastic Technology Backtested Returns
Grand Plastic Technology holds Efficiency (Sharpe) Ratio of -0.0691, which attests that the entity had a -0.0691% return per unit of standard deviation over the last 3 months. Grand Plastic Technology exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Grand Plastic's market risk adjusted performance of (0.48), and Risk Adjusted Performance of (0.04) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.52, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Grand Plastic's returns are expected to increase less than the market. However, during the bear market, the loss of holding Grand Plastic is expected to be smaller as well. At this point, Grand Plastic Technology has a negative expected return of -0.23%. Please make sure to check out Grand Plastic's market risk adjusted performance, coefficient of variation, jensen alpha, as well as the relationship between the mean deviation and standard deviation , to decide if Grand Plastic Technology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.83 |
Very good predictability
Grand Plastic Technology has very good predictability. Overlapping area represents the amount of predictability between Grand Plastic time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 to 28th 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 Grand Plastic Technology price movement. The serial correlation of 0.83 indicates that around 83.0% of current Grand Plastic price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.83 | |
| Spearman Rank Test | 0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 214.8 K |
Grand Plastic Technology lagged returns against current returns
Autocorrelation, which is Grand Plastic 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 Grand Plastic's stock expected returns. We can calculate the autocorrelation of Grand Plastic returns to help us make a trade decision. For example, suppose you find that Grand Plastic 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 |
Grand Plastic 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 Grand Plastic stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Grand Plastic stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Grand Plastic stock over time.
Current vs Lagged Prices |
| Timeline |
Grand Plastic Lagged Returns
When evaluating Grand Plastic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Grand Plastic stock have on its future price. Grand Plastic 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, Grand Plastic autocorrelation shows the relationship between Grand Plastic stock current value and its past values and can show if there is a momentum factor associated with investing in Grand Plastic Technology.
Regressed Prices |
| Timeline |
Pair Trading with Grand Plastic
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 Grand Plastic 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 Grand Plastic will appreciate offsetting losses from the drop in the long position's value.Moving together with Grand Stock
Moving against Grand Stock
| 0.63 | 6176 | Radiant Opto Electro | PairCorr |
| 0.58 | 2882B | Cathay Financial Holding | PairCorr |
| 0.57 | 5434 | Topco Scientific | PairCorr |
| 0.53 | 2882A | Cathay Financial Holding | PairCorr |
| 0.53 | 0050 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Grand Plastic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Grand Plastic 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 Grand Plastic - 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 Grand Plastic Technology to buy it.
The correlation of Grand Plastic 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 Grand Plastic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Grand Plastic Technology 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 Grand Plastic 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 Grand Stock Analysis
When running Grand Plastic's price analysis, check to measure Grand Plastic'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 Grand Plastic is operating at the current time. Most of Grand Plastic's value examination focuses on studying past and present price action to predict the probability of Grand Plastic's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Grand Plastic's price. Additionally, you may evaluate how the addition of Grand Plastic to your portfolios can decrease your overall portfolio volatility.