Unique Optical (Taiwan) Market Value
| 3441 Stock | TWD 36.95 0.55 1.51% |
| Symbol | Unique |
Unique Optical '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 Unique Optical'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 Unique Optical.
| 01/31/2024 |
| 11/26/2024 |
If you would invest 0.00 in Unique Optical on January 31, 2024 and sell it all today you would earn a total of 0.00 from holding Unique Optical Industrial or generate 0.0% return on investment in Unique Optical over 300 days. Unique Optical is related to or competes with Farglory FTZ, Kings Town, HOYA Resort, Hua Nan, Mechema Chemicals, Landis Taipei, and First Insurance. More
Unique Optical 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 Unique Optical'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 Unique Optical Industrial upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 14.13 | |||
| Value At Risk | (3.95) | |||
| Potential Upside | 3.71 |
Unique Optical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Unique Optical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Unique Optical's standard deviation. In reality, there are many statistical measures that can use Unique Optical historical prices to predict the future Unique Optical's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.48) | |||
| Treynor Ratio | (0.95) |
Unique Optical Industrial Backtested Returns
Unique Optical Industrial owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0374, which indicates the firm had a -0.0374% return per unit of risk over the last 3 months. Unique Optical Industrial exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Unique Optical's Variance of 5.93, coefficient of variation of (2,676), and Risk Adjusted Performance of (0.02) to confirm the risk estimate we provide. The entity has a beta of 0.11, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Unique Optical's returns are expected to increase less than the market. However, during the bear market, the loss of holding Unique Optical is expected to be smaller as well. At this point, Unique Optical Industrial has a negative expected return of -0.091%. Please make sure to validate Unique Optical's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Unique Optical Industrial performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.35 |
Below average predictability
Unique Optical Industrial has below average predictability. Overlapping area represents the amount of predictability between Unique Optical time series from 31st of January 2024 to 29th of June 2024 and 29th of June 2024 to 26th 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 Unique Optical Industrial price movement. The serial correlation of 0.35 indicates that nearly 35.0% of current Unique Optical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.35 | |
| Spearman Rank Test | 0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 3.63 |
Unique Optical Industrial lagged returns against current returns
Autocorrelation, which is Unique Optical 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 Unique Optical's stock expected returns. We can calculate the autocorrelation of Unique Optical returns to help us make a trade decision. For example, suppose you find that Unique Optical 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 |
Unique Optical 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 Unique Optical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Unique Optical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Unique Optical stock over time.
Current vs Lagged Prices |
| Timeline |
Unique Optical Lagged Returns
When evaluating Unique Optical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Unique Optical stock have on its future price. Unique Optical 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, Unique Optical autocorrelation shows the relationship between Unique Optical stock current value and its past values and can show if there is a momentum factor associated with investing in Unique Optical Industrial.
Regressed Prices |
| Timeline |
Pair Trading with Unique Optical
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 Unique Optical 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 Unique Optical will appreciate offsetting losses from the drop in the long position's value.Moving together with Unique Stock
The ability to find closely correlated positions to Unique Optical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Unique Optical 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 Unique Optical - 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 Unique Optical Industrial to buy it.
The correlation of Unique Optical 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 Unique Optical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Unique Optical Industrial 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 Unique Optical 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 Unique Stock Analysis
When running Unique Optical's price analysis, check to measure Unique Optical'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 Unique Optical is operating at the current time. Most of Unique Optical's value examination focuses on studying past and present price action to predict the probability of Unique Optical's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Unique Optical's price. Additionally, you may evaluate how the addition of Unique Optical to your portfolios can decrease your overall portfolio volatility.