Topco Technologies (Taiwan) Market Value
| 3388 Stock | TWD 70.80 0.50 0.71% |
| Symbol | Topco |
Topco Technologies '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 Topco Technologies' 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 Topco Technologies.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Topco Technologies on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Topco Technologies or generate 0.0% return on investment in Topco Technologies over 30 days. Topco Technologies is related to or competes with Chicony Power, Level Biotechnology, Arbor Technology, ADLINK Technology, Genovate Biotechnology, Sunmax Biotechnology, and Galaxy Software. More
Topco Technologies 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 Topco Technologies' 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 Topco Technologies upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 3.23 | |||
| Value At Risk | (0.96) | |||
| Potential Upside | 1.13 |
Topco Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Topco Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Topco Technologies' standard deviation. In reality, there are many statistical measures that can use Topco Technologies historical prices to predict the future Topco Technologies' volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.13) | |||
| Treynor Ratio | (0.07) |
Topco Technologies Backtested Returns
Topco Technologies owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0367, which indicates the firm had a -0.0367% return per unit of risk over the last 3 months. Topco Technologies exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Topco Technologies' Risk Adjusted Performance of (0.01), variance of 0.4592, and Coefficient Of Variation of (6,436) to confirm the risk estimate we provide. The entity has a beta of 0.31, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Topco Technologies' returns are expected to increase less than the market. However, during the bear market, the loss of holding Topco Technologies is expected to be smaller as well. At this point, Topco Technologies has a negative expected return of -0.0241%. Please make sure to validate Topco Technologies' total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Topco Technologies performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.23 |
Weak predictability
Topco Technologies has weak predictability. Overlapping area represents the amount of predictability between Topco Technologies time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Topco Technologies price movement. The serial correlation of 0.23 indicates that over 23.0% of current Topco Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.23 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Topco Technologies lagged returns against current returns
Autocorrelation, which is Topco Technologies 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 Topco Technologies' stock expected returns. We can calculate the autocorrelation of Topco Technologies returns to help us make a trade decision. For example, suppose you find that Topco Technologies 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 |
Topco Technologies 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 Topco Technologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Topco Technologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Topco Technologies stock over time.
Current vs Lagged Prices |
| Timeline |
Topco Technologies Lagged Returns
When evaluating Topco Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Topco Technologies stock have on its future price. Topco Technologies 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, Topco Technologies autocorrelation shows the relationship between Topco Technologies stock current value and its past values and can show if there is a momentum factor associated with investing in Topco Technologies.
Regressed Prices |
| Timeline |
Pair Trading with Topco Technologies
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 Topco Technologies 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 Topco Technologies will appreciate offsetting losses from the drop in the long position's value.Moving together with Topco Stock
Moving against Topco Stock
The ability to find closely correlated positions to Topco Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Topco Technologies 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 Topco Technologies - 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 Topco Technologies to buy it.
The correlation of Topco Technologies 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 Topco Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Topco Technologies 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 Topco Technologies 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 Topco Stock Analysis
When running Topco Technologies' price analysis, check to measure Topco Technologies' 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 Topco Technologies is operating at the current time. Most of Topco Technologies' value examination focuses on studying past and present price action to predict the probability of Topco Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Topco Technologies' price. Additionally, you may evaluate how the addition of Topco Technologies to your portfolios can decrease your overall portfolio volatility.