Oneness Biotech (Taiwan) Market Value
| 4743 Stock | TWD 106.50 3.00 2.90% |
| Symbol | Oneness |
Oneness Biotech '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 Oneness Biotech'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 Oneness Biotech.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Oneness Biotech on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Oneness Biotech Co or generate 0.0% return on investment in Oneness Biotech over 30 days. Oneness Biotech is related to or competes with OBI Pharma, Tanvex BioPharma, and Adimmune Corp. More
Oneness Biotech 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 Oneness Biotech'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 Oneness Biotech Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 13.76 | |||
| Value At Risk | (4.76) | |||
| Potential Upside | 2.87 |
Oneness Biotech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Oneness Biotech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Oneness Biotech's standard deviation. In reality, there are many statistical measures that can use Oneness Biotech historical prices to predict the future Oneness Biotech's volatility.| Risk Adjusted Performance | (0.18) | |||
| Jensen Alpha | (0.60) | |||
| Total Risk Alpha | (0.96) | |||
| Treynor Ratio | (12.53) |
Oneness Biotech Backtested Returns
Oneness Biotech maintains Sharpe Ratio (i.e., Efficiency) of -0.27, which implies the firm had a -0.27% return per unit of risk over the last 3 months. Oneness Biotech exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Oneness Biotech's Risk Adjusted Performance of (0.18), coefficient of variation of (401.99), and Variance of 5.49 to confirm the risk estimate we provide. The company holds a Beta of 0.0473, which implies not very significant fluctuations relative to the market. As returns on the market increase, Oneness Biotech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Oneness Biotech is expected to be smaller as well. At this point, Oneness Biotech has a negative expected return of -0.64%. Please make sure to check Oneness Biotech'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 Oneness Biotech performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.60 |
Good predictability
Oneness Biotech Co has good predictability. Overlapping area represents the amount of predictability between Oneness Biotech time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Oneness Biotech price movement. The serial correlation of 0.6 indicates that roughly 60.0% of current Oneness Biotech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.6 | |
| Spearman Rank Test | 0.51 | |
| Residual Average | 0.0 | |
| Price Variance | 38.22 |
Oneness Biotech lagged returns against current returns
Autocorrelation, which is Oneness Biotech 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 Oneness Biotech's stock expected returns. We can calculate the autocorrelation of Oneness Biotech returns to help us make a trade decision. For example, suppose you find that Oneness Biotech 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 |
Oneness Biotech 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 Oneness Biotech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Oneness Biotech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Oneness Biotech stock over time.
Current vs Lagged Prices |
| Timeline |
Oneness Biotech Lagged Returns
When evaluating Oneness Biotech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Oneness Biotech stock have on its future price. Oneness Biotech 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, Oneness Biotech autocorrelation shows the relationship between Oneness Biotech stock current value and its past values and can show if there is a momentum factor associated with investing in Oneness Biotech Co.
Regressed Prices |
| Timeline |
Pair Trading with Oneness Biotech
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 Oneness Biotech 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 Oneness Biotech will appreciate offsetting losses from the drop in the long position's value.Moving together with Oneness Stock
Moving against Oneness Stock
| 0.91 | 2881A | Fubon Financial Holding | PairCorr |
| 0.86 | 2891 | CTBC Financial Holding | PairCorr |
| 0.79 | 2891B | CTBC Financial Holding | PairCorr |
| 0.76 | 2882B | Cathay Financial Holding | PairCorr |
| 0.75 | 4162 | PharmaEngine | PairCorr |
The ability to find closely correlated positions to Oneness Biotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Oneness Biotech 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 Oneness Biotech - 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 Oneness Biotech Co to buy it.
The correlation of Oneness Biotech 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 Oneness Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Oneness Biotech 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 Oneness Biotech 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 Oneness Stock Analysis
When running Oneness Biotech's price analysis, check to measure Oneness Biotech'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 Oneness Biotech is operating at the current time. Most of Oneness Biotech's value examination focuses on studying past and present price action to predict the probability of Oneness Biotech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Oneness Biotech's price. Additionally, you may evaluate how the addition of Oneness Biotech to your portfolios can decrease your overall portfolio volatility.