Taiwan IC (Taiwan) Market Value
| 3372 Stock | TWD 16.45 0.70 4.08% |
| Symbol | Taiwan |
Taiwan IC '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 Taiwan IC'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 Taiwan IC.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in Taiwan IC on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding Taiwan IC Packaging or generate 0.0% return on investment in Taiwan IC over 720 days. Taiwan IC is related to or competes with Cathay Financial, Shinkong Insurance, First Insurance, Yuanta Financial, Newretail, Taiwan Cooperative, and Grand Ocean. Taiwan IC Packaging Corporation develops optical and ultrathin IC package technologies More
Taiwan IC 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 Taiwan IC'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 Taiwan IC Packaging upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 12.91 | |||
| Value At Risk | (3.13) | |||
| Potential Upside | 2.54 |
Taiwan IC Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Taiwan IC's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Taiwan IC's standard deviation. In reality, there are many statistical measures that can use Taiwan IC historical prices to predict the future Taiwan IC's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.51) | |||
| Treynor Ratio | (2.33) |
Taiwan IC Packaging Backtested Returns
Taiwan IC Packaging owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.1, which indicates the firm had a -0.1% return per unit of risk over the last 3 months. Taiwan IC Packaging exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Taiwan IC's Risk Adjusted Performance of (0.06), variance of 4.67, and Coefficient Of Variation of (1,232) to confirm the risk estimate we provide. The entity has a beta of 0.0796, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Taiwan IC's returns are expected to increase less than the market. However, during the bear market, the loss of holding Taiwan IC is expected to be smaller as well. At this point, Taiwan IC Packaging has a negative expected return of -0.22%. Please make sure to validate Taiwan IC's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Taiwan IC Packaging performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.50 |
Modest predictability
Taiwan IC Packaging has modest predictability. Overlapping area represents the amount of predictability between Taiwan IC 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 Taiwan IC Packaging price movement. The serial correlation of 0.5 indicates that about 50.0% of current Taiwan IC price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.5 | |
| Spearman Rank Test | 0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 7.65 |
Taiwan IC Packaging lagged returns against current returns
Autocorrelation, which is Taiwan IC 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 Taiwan IC's stock expected returns. We can calculate the autocorrelation of Taiwan IC returns to help us make a trade decision. For example, suppose you find that Taiwan IC 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 |
Taiwan IC 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 Taiwan IC stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Taiwan IC stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Taiwan IC stock over time.
Current vs Lagged Prices |
| Timeline |
Taiwan IC Lagged Returns
When evaluating Taiwan IC's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Taiwan IC stock have on its future price. Taiwan IC 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, Taiwan IC autocorrelation shows the relationship between Taiwan IC stock current value and its past values and can show if there is a momentum factor associated with investing in Taiwan IC Packaging.
Regressed Prices |
| Timeline |
Pair Trading with Taiwan IC
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 Taiwan IC 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 Taiwan IC will appreciate offsetting losses from the drop in the long position's value.Moving against Taiwan Stock
The ability to find closely correlated positions to Taiwan IC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taiwan IC 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 Taiwan IC - 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 Taiwan IC Packaging to buy it.
The correlation of Taiwan IC 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 Taiwan IC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taiwan IC Packaging 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 Taiwan IC 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 Taiwan Stock Analysis
When running Taiwan IC's price analysis, check to measure Taiwan IC'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 Taiwan IC is operating at the current time. Most of Taiwan IC's value examination focuses on studying past and present price action to predict the probability of Taiwan IC's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Taiwan IC's price. Additionally, you may evaluate how the addition of Taiwan IC to your portfolios can decrease your overall portfolio volatility.