Parade Technologies (Taiwan) Market Value
| 4966 Stock | TWD 695.00 13.00 1.91% |
| Symbol | Parade |
Parade Technologies '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 Parade Technologies' 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 Parade Technologies.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Parade Technologies on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Parade Technologies or generate 0.0% return on investment in Parade Technologies over 720 days. Parade Technologies is related to or competes with Aspeed Technology, Silergy Corp, Novatek Microelectronics, WIN Semiconductors, and Realtek Semiconductor. More
Parade Technologies 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 Parade Technologies' 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 Parade Technologies upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 12.57 | |||
| Value At Risk | (3.23) | |||
| Potential Upside | 4.42 |
Parade Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Parade Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Parade Technologies' standard deviation. In reality, there are many statistical measures that can use Parade Technologies historical prices to predict the future Parade Technologies' volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.21) | |||
| Total Risk Alpha | (0.51) | |||
| Treynor Ratio | (0.26) |
Parade Technologies Backtested Returns
Parade Technologies maintains Sharpe Ratio (i.e., Efficiency) of -0.0663, which implies the firm had a -0.0663% return per unit of risk over the last 3 months. Parade Technologies exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Parade Technologies' Coefficient Of Variation of (1,704), variance of 4.96, and Risk Adjusted Performance of (0.04) to confirm the risk estimate we provide. The company holds a Beta of 0.54, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Parade Technologies' returns are expected to increase less than the market. However, during the bear market, the loss of holding Parade Technologies is expected to be smaller as well. At this point, Parade Technologies has a negative expected return of -0.15%. Please make sure to check Parade Technologies' treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Parade Technologies performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.39 |
Poor reverse predictability
Parade Technologies has poor reverse predictability. Overlapping area represents the amount of predictability between Parade Technologies time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd of December 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 Parade Technologies price movement. The serial correlation of -0.39 indicates that just about 39.0% of current Parade Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.39 | |
| Spearman Rank Test | -0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 27.7 K |
Parade Technologies lagged returns against current returns
Autocorrelation, which is Parade Technologies 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 Parade Technologies' stock expected returns. We can calculate the autocorrelation of Parade Technologies returns to help us make a trade decision. For example, suppose you find that Parade Technologies 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 |
Parade Technologies 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 Parade Technologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Parade Technologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Parade Technologies stock over time.
Current vs Lagged Prices |
| Timeline |
Parade Technologies Lagged Returns
When evaluating Parade Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Parade Technologies stock have on its future price. Parade Technologies 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, Parade Technologies autocorrelation shows the relationship between Parade Technologies stock current value and its past values and can show if there is a momentum factor associated with investing in Parade Technologies.
Regressed Prices |
| Timeline |
Pair Trading with Parade Technologies
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 Parade Technologies 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 Parade Technologies will appreciate offsetting losses from the drop in the long position's value.Moving together with Parade Stock
Moving against Parade Stock
| 0.39 | 3443 | Global Unichip Corp | PairCorr |
| 0.38 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.38 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.33 | 0057 | Fubon MSCI Taiwan | PairCorr |
The ability to find closely correlated positions to Parade Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Parade Technologies 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 Parade Technologies - 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 Parade Technologies to buy it.
The correlation of Parade Technologies 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 Parade Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Parade Technologies 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 Parade Technologies 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 Parade Stock Analysis
When running Parade Technologies' price analysis, check to measure Parade Technologies' 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 Parade Technologies is operating at the current time. Most of Parade Technologies' value examination focuses on studying past and present price action to predict the probability of Parade Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Parade Technologies' price. Additionally, you may evaluate how the addition of Parade Technologies to your portfolios can decrease your overall portfolio volatility.