Tradetool Auto (Taiwan) Market Value
| 3685 Stock | TWD 16.75 0.15 0.89% |
| Symbol | Tradetool |
Tradetool Auto '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 Tradetool Auto'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 Tradetool Auto.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Tradetool Auto on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Tradetool Auto Co or generate 0.0% return on investment in Tradetool Auto over 30 days. Tradetool Auto is related to or competes with Sino American, Powertech Technology, Formosa Sumco, Radiant Opto, Faraday Technology, Tong Hsing, and Topco Scientific. Tradetool Auto Co., Ltd. develops, manufactures, and sells light guide plate products for TFT-LCD panels in Taiwan, Chin... More
Tradetool Auto 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 Tradetool Auto'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 Tradetool Auto Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 14.98 | |||
| Value At Risk | (2.60) | |||
| Potential Upside | 1.98 |
Tradetool Auto Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tradetool Auto's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tradetool Auto's standard deviation. In reality, there are many statistical measures that can use Tradetool Auto historical prices to predict the future Tradetool Auto's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.1) | |||
| Total Risk Alpha | (0.34) | |||
| Treynor Ratio | (0.31) |
Tradetool Auto Backtested Returns
Tradetool Auto owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0581, which indicates the firm had a -0.0581% return per unit of risk over the last 3 months. Tradetool Auto Co exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tradetool Auto's Coefficient Of Variation of (2,996), risk adjusted performance of (0.02), and Variance of 3.19 to confirm the risk estimate we provide. The entity has a beta of 0.23, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Tradetool Auto's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tradetool Auto is expected to be smaller as well. At this point, Tradetool Auto has a negative expected return of -0.1%. Please make sure to validate Tradetool Auto's market risk adjusted performance, coefficient of variation, information ratio, as well as the relationship between the mean deviation and standard deviation , to decide if Tradetool Auto performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.57 |
Modest predictability
Tradetool Auto Co has modest predictability. Overlapping area represents the amount of predictability between Tradetool Auto 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 Tradetool Auto price movement. The serial correlation of 0.57 indicates that roughly 57.0% of current Tradetool Auto price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.57 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Tradetool Auto lagged returns against current returns
Autocorrelation, which is Tradetool Auto 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 Tradetool Auto's stock expected returns. We can calculate the autocorrelation of Tradetool Auto returns to help us make a trade decision. For example, suppose you find that Tradetool Auto 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 |
Tradetool Auto 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 Tradetool Auto stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tradetool Auto stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tradetool Auto stock over time.
Current vs Lagged Prices |
| Timeline |
Tradetool Auto Lagged Returns
When evaluating Tradetool Auto's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tradetool Auto stock have on its future price. Tradetool Auto 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, Tradetool Auto autocorrelation shows the relationship between Tradetool Auto stock current value and its past values and can show if there is a momentum factor associated with investing in Tradetool Auto Co.
Regressed Prices |
| Timeline |
Pair Trading with Tradetool Auto
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 Tradetool Auto 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 Tradetool Auto will appreciate offsetting losses from the drop in the long position's value.Moving together with Tradetool Stock
Moving against Tradetool Stock
| 0.78 | 2881A | Fubon Financial Holding | PairCorr |
| 0.67 | 2882B | Cathay Financial Holding | PairCorr |
| 0.56 | 5434 | Topco Scientific | PairCorr |
| 0.53 | 2317 | Hon Hai Precision | PairCorr |
| 0.52 | 2891 | CTBC Financial Holding | PairCorr |
The ability to find closely correlated positions to Tradetool Auto could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tradetool Auto 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 Tradetool Auto - 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 Tradetool Auto Co to buy it.
The correlation of Tradetool Auto 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 Tradetool Auto moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tradetool Auto 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 Tradetool Auto 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 Tradetool Stock Analysis
When running Tradetool Auto's price analysis, check to measure Tradetool Auto'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 Tradetool Auto is operating at the current time. Most of Tradetool Auto's value examination focuses on studying past and present price action to predict the probability of Tradetool Auto's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tradetool Auto's price. Additionally, you may evaluate how the addition of Tradetool Auto to your portfolios can decrease your overall portfolio volatility.