Optivision Technology (Taiwan) Market Value
| 3666 Stock | TWD 30.40 0.05 0.16% |
| Symbol | Optivision |
Optivision Technology '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 Optivision Technology'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 Optivision Technology.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Optivision Technology on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Optivision Technology or generate 0.0% return on investment in Optivision Technology over 30 days. Optivision Technology is related to or competes with Taiwan Semiconductor, MediaTek, United Microelectronics, Novatek Microelectronics, Silergy Corp, GlobalWafers, and Realtek Semiconductor. Optivision Technology, Inc. designs and develops optical films More
Optivision Technology 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 Optivision Technology'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 Optivision Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 15.36 | |||
| Value At Risk | (3.82) | |||
| Potential Upside | 5.47 |
Optivision Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Optivision Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Optivision Technology's standard deviation. In reality, there are many statistical measures that can use Optivision Technology historical prices to predict the future Optivision Technology's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.61) | |||
| Treynor Ratio | 0.6898 |
Optivision Technology Backtested Returns
Optivision Technology maintains Sharpe Ratio (i.e., Efficiency) of -0.0703, which implies the firm had a -0.0703% return per unit of risk over the last 3 months. Optivision Technology exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Optivision Technology's Variance of 6.39, coefficient of variation of (1,438), and Risk Adjusted Performance of (0.05) to confirm the risk estimate we provide. The company holds a Beta of -0.27, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Optivision Technology are expected to decrease at a much lower rate. During the bear market, Optivision Technology is likely to outperform the market. At this point, Optivision Technology has a negative expected return of -0.18%. Please make sure to check Optivision Technology's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Optivision Technology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.13 |
Insignificant predictability
Optivision Technology has insignificant predictability. Overlapping area represents the amount of predictability between Optivision Technology 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 Optivision Technology price movement. The serial correlation of 0.13 indicates that less than 13.0% of current Optivision Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.13 | |
| Spearman Rank Test | -0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 0.45 |
Optivision Technology lagged returns against current returns
Autocorrelation, which is Optivision Technology 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 Optivision Technology's stock expected returns. We can calculate the autocorrelation of Optivision Technology returns to help us make a trade decision. For example, suppose you find that Optivision Technology 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 |
Optivision Technology 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 Optivision Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Optivision Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Optivision Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Optivision Technology Lagged Returns
When evaluating Optivision Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Optivision Technology stock have on its future price. Optivision Technology 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, Optivision Technology autocorrelation shows the relationship between Optivision Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Optivision Technology.
Regressed Prices |
| Timeline |
Pair Trading with Optivision Technology
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 Optivision Technology 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 Optivision Technology will appreciate offsetting losses from the drop in the long position's value.Moving against Optivision Stock
| 0.52 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.5 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.48 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.45 | 2882 | Cathay Financial Holding | PairCorr |
| 0.42 | 2454 | MediaTek | PairCorr |
The ability to find closely correlated positions to Optivision Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Optivision Technology 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 Optivision Technology - 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 Optivision Technology to buy it.
The correlation of Optivision Technology 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 Optivision Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Optivision Technology 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 Optivision Technology 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 Optivision Stock Analysis
When running Optivision Technology's price analysis, check to measure Optivision Technology'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 Optivision Technology is operating at the current time. Most of Optivision Technology's value examination focuses on studying past and present price action to predict the probability of Optivision Technology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Optivision Technology's price. Additionally, you may evaluate how the addition of Optivision Technology to your portfolios can decrease your overall portfolio volatility.