Tung Thih (Taiwan) Market Value
| 3552 Stock | TWD 98.50 1.50 1.50% |
| Symbol | Tung |
Tung Thih '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 Tung Thih'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 Tung Thih.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Tung Thih on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Tung Thih Electronic or generate 0.0% return on investment in Tung Thih over 30 days. Tung Thih is related to or competes with Hota Industrial, BizLink Holding, Cub Elecparts, Hu Lane, and WIN Semiconductors. Tung Thih Electronic Co., Ltd. manufactures and supplies automotive electronics worldwide More
Tung Thih 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 Tung Thih'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 Tung Thih Electronic upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.59 | |||
| Information Ratio | 0.0437 | |||
| Maximum Drawdown | 16.05 | |||
| Value At Risk | (3.85) | |||
| Potential Upside | 9.85 |
Tung Thih Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tung Thih's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tung Thih's standard deviation. In reality, there are many statistical measures that can use Tung Thih historical prices to predict the future Tung Thih's volatility.| Risk Adjusted Performance | 0.0709 | |||
| Jensen Alpha | 0.2337 | |||
| Total Risk Alpha | (0.23) | |||
| Sortino Ratio | 0.0544 | |||
| Treynor Ratio | 1.32 |
Tung Thih Electronic Backtested Returns
Tung Thih appears to be very steady, given 3 months investment horizon. Tung Thih Electronic owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0843, which indicates the firm had a 0.0843% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Tung Thih Electronic, which you can use to evaluate the volatility of the company. Please review Tung Thih's Semi Deviation of 2.14, coefficient of variation of 1210.96, and Risk Adjusted Performance of 0.0709 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Tung Thih holds a performance score of 6. The entity has a beta of 0.19, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Tung Thih's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tung Thih is expected to be smaller as well. Please check Tung Thih's information ratio, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Tung Thih's existing price patterns will revert.
Auto-correlation | 0.20 |
Weak predictability
Tung Thih Electronic has weak predictability. Overlapping area represents the amount of predictability between Tung Thih time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 Tung Thih Electronic price movement. The serial correlation of 0.2 indicates that over 20.0% of current Tung Thih price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | -0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 16.78 |
Tung Thih Electronic lagged returns against current returns
Autocorrelation, which is Tung Thih 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 Tung Thih's stock expected returns. We can calculate the autocorrelation of Tung Thih returns to help us make a trade decision. For example, suppose you find that Tung Thih 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 |
Tung Thih 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 Tung Thih stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tung Thih stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tung Thih stock over time.
Current vs Lagged Prices |
| Timeline |
Tung Thih Lagged Returns
When evaluating Tung Thih's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tung Thih stock have on its future price. Tung Thih 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, Tung Thih autocorrelation shows the relationship between Tung Thih stock current value and its past values and can show if there is a momentum factor associated with investing in Tung Thih Electronic.
Regressed Prices |
| Timeline |
Pair Trading with Tung Thih
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 Tung Thih 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 Tung Thih will appreciate offsetting losses from the drop in the long position's value.Moving together with Tung Stock
Moving against Tung Stock
| 0.8 | 6291 | Analog Integrations | PairCorr |
| 0.64 | 5274 | Aspeed Technology | PairCorr |
| 0.6 | 6605 | Depo Auto Parts | PairCorr |
| 0.58 | 2106 | Kenda Rubber Industrial | PairCorr |
| 0.43 | 8255 | Actron Technology | PairCorr |
The ability to find closely correlated positions to Tung Thih could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tung Thih 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 Tung Thih - 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 Tung Thih Electronic to buy it.
The correlation of Tung Thih 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 Tung Thih moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tung Thih Electronic 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 Tung Thih 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 Tung Stock Analysis
When running Tung Thih's price analysis, check to measure Tung Thih'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 Tung Thih is operating at the current time. Most of Tung Thih's value examination focuses on studying past and present price action to predict the probability of Tung Thih's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tung Thih's price. Additionally, you may evaluate how the addition of Tung Thih to your portfolios can decrease your overall portfolio volatility.