Universal Vision (Taiwan) Market Value
| 3218 Stock | TWD 215.50 5.00 2.38% |
| Symbol | Universal |
Universal Vision '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 Universal Vision'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 Universal Vision.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Universal Vision on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Universal Vision Biotechnology or generate 0.0% return on investment in Universal Vision over 720 days. Universal Vision is related to or competes with GenMont Biotech, Sinphar Pharmaceutical, Abnova Taiwan, and Wellell. Universal Vision Biotechnology Co., Ltd. operates a chain of eye care clinics in Taiwan and China More
Universal Vision 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 Universal Vision'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 Universal Vision Biotechnology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 13.49 | |||
| Value At Risk | (2.14) | |||
| Potential Upside | 2.77 |
Universal Vision Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Universal Vision's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Universal Vision's standard deviation. In reality, there are many statistical measures that can use Universal Vision historical prices to predict the future Universal Vision's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.39) | |||
| Treynor Ratio | (0.16) |
Universal Vision Bio Backtested Returns
Universal Vision Bio owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0474, which indicates the firm had a -0.0474% return per unit of risk over the last 3 months. Universal Vision Biotechnology exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Universal Vision's Coefficient Of Variation of (2,422), variance of 3.57, and Risk Adjusted Performance of (0.03) to confirm the risk estimate we provide. The entity has a beta of 0.54, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Universal Vision's returns are expected to increase less than the market. However, during the bear market, the loss of holding Universal Vision is expected to be smaller as well. At this point, Universal Vision Bio has a negative expected return of -0.0907%. Please make sure to validate Universal Vision's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Universal Vision Bio performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.18 |
Insignificant reverse predictability
Universal Vision Biotechnology has insignificant reverse predictability. Overlapping area represents the amount of predictability between Universal Vision 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 Universal Vision Bio price movement. The serial correlation of -0.18 indicates that over 18.0% of current Universal Vision price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.18 | |
| Spearman Rank Test | -0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 419.87 |
Universal Vision Bio lagged returns against current returns
Autocorrelation, which is Universal Vision 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 Universal Vision's stock expected returns. We can calculate the autocorrelation of Universal Vision returns to help us make a trade decision. For example, suppose you find that Universal Vision 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 |
Universal Vision 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 Universal Vision stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Universal Vision stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Universal Vision stock over time.
Current vs Lagged Prices |
| Timeline |
Universal Vision Lagged Returns
When evaluating Universal Vision's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Universal Vision stock have on its future price. Universal Vision 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, Universal Vision autocorrelation shows the relationship between Universal Vision stock current value and its past values and can show if there is a momentum factor associated with investing in Universal Vision Biotechnology.
Regressed Prices |
| Timeline |
Pair Trading with Universal Vision
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 Universal Vision 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 Universal Vision will appreciate offsetting losses from the drop in the long position's value.Moving together with Universal Stock
Moving against Universal Stock
The ability to find closely correlated positions to Universal Vision could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Universal Vision 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 Universal Vision - 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 Universal Vision Biotechnology to buy it.
The correlation of Universal Vision 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 Universal Vision moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Universal Vision Bio 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 Universal Vision 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 Universal Stock Analysis
When running Universal Vision's price analysis, check to measure Universal Vision'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 Universal Vision is operating at the current time. Most of Universal Vision's value examination focuses on studying past and present price action to predict the probability of Universal Vision's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Universal Vision's price. Additionally, you may evaluate how the addition of Universal Vision to your portfolios can decrease your overall portfolio volatility.