Golden Biotechnology (Taiwan) Market Value
| 4132 Stock | TWD 16.50 0.15 0.92% |
| Symbol | Golden |
Golden Biotechnology '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 Golden Biotechnology'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 Golden Biotechnology.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Golden Biotechnology on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Golden Biotechnology or generate 0.0% return on investment in Golden Biotechnology over 30 days. Golden Biotechnology is related to or competes with Grape King, ScinoPharm Taiwan, YungShin Global, Standard Chemical, SCI Pharmtech, and . Golden Biotechnology Corporation operates as a drug discovery and healthy food supplement manufacturing company More
Golden Biotechnology 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 Golden Biotechnology'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 Golden Biotechnology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 19.95 | |||
| Value At Risk | (2.88) | |||
| Potential Upside | 1.75 |
Golden Biotechnology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Golden Biotechnology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Golden Biotechnology's standard deviation. In reality, there are many statistical measures that can use Golden Biotechnology historical prices to predict the future Golden Biotechnology's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.28) | |||
| Total Risk Alpha | (0.80) | |||
| Treynor Ratio | 1.94 |
Golden Biotechnology Backtested Returns
Golden Biotechnology holds Efficiency (Sharpe) Ratio of -0.0886, which attests that the entity had a -0.0886% return per unit of risk over the last 3 months. Golden Biotechnology exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Golden Biotechnology's Standard Deviation of 3.24, market risk adjusted performance of 1.95, and Risk Adjusted Performance of (0.06) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.16, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Golden Biotechnology are expected to decrease at a much lower rate. During the bear market, Golden Biotechnology is likely to outperform the market. At this point, Golden Biotechnology has a negative expected return of -0.3%. Please make sure to check out Golden Biotechnology's coefficient of variation, information ratio, total risk alpha, as well as the relationship between the standard deviation and jensen alpha , to decide if Golden Biotechnology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.86 |
Very good predictability
Golden Biotechnology has very good predictability. Overlapping area represents the amount of predictability between Golden Biotechnology time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Golden Biotechnology price movement. The serial correlation of 0.86 indicates that approximately 86.0% of current Golden Biotechnology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.86 | |
| Spearman Rank Test | 0.82 | |
| Residual Average | 0.0 | |
| Price Variance | 0.14 |
Golden Biotechnology lagged returns against current returns
Autocorrelation, which is Golden Biotechnology 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 Golden Biotechnology's stock expected returns. We can calculate the autocorrelation of Golden Biotechnology returns to help us make a trade decision. For example, suppose you find that Golden Biotechnology 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 |
Golden Biotechnology 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 Golden Biotechnology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Golden Biotechnology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Golden Biotechnology stock over time.
Current vs Lagged Prices |
| Timeline |
Golden Biotechnology Lagged Returns
When evaluating Golden Biotechnology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Golden Biotechnology stock have on its future price. Golden Biotechnology 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, Golden Biotechnology autocorrelation shows the relationship between Golden Biotechnology stock current value and its past values and can show if there is a momentum factor associated with investing in Golden Biotechnology.
Regressed Prices |
| Timeline |
Pair Trading with Golden Biotechnology
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 Golden Biotechnology 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 Golden Biotechnology will appreciate offsetting losses from the drop in the long position's value.Moving against Golden Stock
| 0.77 | 1707 | Grape King Bio | PairCorr |
| 0.7 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.65 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.64 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.51 | 6763 | Green World Fintech Split | PairCorr |
The ability to find closely correlated positions to Golden Biotechnology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Golden Biotechnology 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 Golden Biotechnology - 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 Golden Biotechnology to buy it.
The correlation of Golden Biotechnology 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 Golden Biotechnology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Golden Biotechnology 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 Golden Biotechnology 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 Golden Stock Analysis
When running Golden Biotechnology's price analysis, check to measure Golden Biotechnology'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 Golden Biotechnology is operating at the current time. Most of Golden Biotechnology's value examination focuses on studying past and present price action to predict the probability of Golden Biotechnology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Golden Biotechnology's price. Additionally, you may evaluate how the addition of Golden Biotechnology to your portfolios can decrease your overall portfolio volatility.