United Orthopedic (Taiwan) Market Value
| 4129 Stock | TWD 97.50 0.30 0.31% |
| Symbol | United |
United Orthopedic '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 United Orthopedic'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 United Orthopedic.
| 05/04/2023 |
| 11/24/2024 |
If you would invest 0.00 in United Orthopedic on May 4, 2023 and sell it all today you would earn a total of 0.00 from holding United Orthopedic or generate 0.0% return on investment in United Orthopedic over 570 days. United Orthopedic is related to or competes with StShine Optical, TTY Biopharm, Apex Biotechnology, Ruentex Development, Symtek Automation, CTCI Corp, and Information Technology. United Orthopedic Corporation engages in the research, development, manufacture, import and export, and sale of orthoped... More
United Orthopedic 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 United Orthopedic'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 United Orthopedic upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 6.38 | |||
| Value At Risk | (2.06) | |||
| Potential Upside | 1.94 |
United Orthopedic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for United Orthopedic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as United Orthopedic's standard deviation. In reality, there are many statistical measures that can use United Orthopedic historical prices to predict the future United Orthopedic's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | (0.46) |
United Orthopedic Backtested Returns
United Orthopedic owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0231, which indicates the firm had a -0.0231% return per unit of risk over the last 3 months. United Orthopedic exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate United Orthopedic's Risk Adjusted Performance of (0.01), variance of 1.63, and Coefficient Of Variation of (4,214) to confirm the risk estimate we provide. The entity has a beta of 0.0879, which indicates not very significant fluctuations relative to the market. As returns on the market increase, United Orthopedic's returns are expected to increase less than the market. However, during the bear market, the loss of holding United Orthopedic is expected to be smaller as well. At this point, United Orthopedic has a negative expected return of -0.0298%. Please make sure to validate United Orthopedic's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if United Orthopedic performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.21 |
Weak predictability
United Orthopedic has weak predictability. Overlapping area represents the amount of predictability between United Orthopedic time series from 4th of May 2023 to 13th of February 2024 and 13th of February 2024 to 24th 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 United Orthopedic price movement. The serial correlation of 0.21 indicates that over 21.0% of current United Orthopedic price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.21 | |
| Spearman Rank Test | 0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 12.87 |
United Orthopedic lagged returns against current returns
Autocorrelation, which is United Orthopedic 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 United Orthopedic's stock expected returns. We can calculate the autocorrelation of United Orthopedic returns to help us make a trade decision. For example, suppose you find that United Orthopedic 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 |
United Orthopedic 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 United Orthopedic stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if United Orthopedic stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in United Orthopedic stock over time.
Current vs Lagged Prices |
| Timeline |
United Orthopedic Lagged Returns
When evaluating United Orthopedic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of United Orthopedic stock have on its future price. United Orthopedic 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, United Orthopedic autocorrelation shows the relationship between United Orthopedic stock current value and its past values and can show if there is a momentum factor associated with investing in United Orthopedic.
Regressed Prices |
| Timeline |
Pair Trading with United Orthopedic
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 United Orthopedic 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 United Orthopedic will appreciate offsetting losses from the drop in the long position's value.Moving against United Stock
| 0.44 | 3218 | Universal Vision Bio | PairCorr |
| 0.43 | 6747 | Brighten Optix | PairCorr |
| 0.37 | 4126 | Pacific Hospital Supply | PairCorr |
| 0.36 | 6762 | Delta Asia International | PairCorr |
The ability to find closely correlated positions to United Orthopedic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace United Orthopedic 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 United Orthopedic - 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 United Orthopedic to buy it.
The correlation of United Orthopedic 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 United Orthopedic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if United Orthopedic 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 United Orthopedic 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 United Stock Analysis
When running United Orthopedic's price analysis, check to measure United Orthopedic'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 United Orthopedic is operating at the current time. Most of United Orthopedic's value examination focuses on studying past and present price action to predict the probability of United Orthopedic's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move United Orthopedic's price. Additionally, you may evaluate how the addition of United Orthopedic to your portfolios can decrease your overall portfolio volatility.