Asia Tech (Taiwan) Market Value
| 4974 Stock | TWD 91.60 0.20 0.22% |
| Symbol | Asia |
Asia Tech '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 Asia Tech'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 Asia Tech.
| 11/11/2024 |
| 12/11/2024 |
If you would invest 0.00 in Asia Tech on November 11, 2024 and sell it all today you would earn a total of 0.00 from holding Asia Tech Image or generate 0.0% return on investment in Asia Tech over 30 days. Asia Tech is related to or competes with ANJI Technology, Emerging Display, U Tech, Ruentex Development, WiseChip Semiconductor, Novatek Microelectronics, and Leader Electronics. Asia Tech Image Inc. designs, develops, assembles, manufactures, and sells customized contact image sensor modules in Ta... More
Asia Tech 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 Asia Tech'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 Asia Tech Image upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 15.78 | |||
| Value At Risk | (3.03) | |||
| Potential Upside | 4.4 |
Asia Tech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Asia Tech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Asia Tech's standard deviation. In reality, there are many statistical measures that can use Asia Tech historical prices to predict the future Asia Tech's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.47) | |||
| Treynor Ratio | (0.11) |
Asia Tech Image Backtested Returns
Asia Tech Image secures Sharpe Ratio (or Efficiency) of -0.12, which signifies that the company had a -0.12% return per unit of risk over the last 3 months. Asia Tech Image exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Asia Tech's Risk Adjusted Performance of (0.01), standard deviation of 2.61, and Mean Deviation of 1.69 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.49, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Asia Tech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Asia Tech is expected to be smaller as well. At this point, Asia Tech Image has a negative expected return of -0.27%. Please make sure to confirm Asia Tech's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Asia Tech Image performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.36 |
Poor reverse predictability
Asia Tech Image has poor reverse predictability. Overlapping area represents the amount of predictability between Asia Tech time series from 11th of November 2024 to 26th of November 2024 and 26th of November 2024 to 11th 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 Asia Tech Image price movement. The serial correlation of -0.36 indicates that just about 36.0% of current Asia Tech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.36 | |
| Spearman Rank Test | -0.58 | |
| Residual Average | 0.0 | |
| Price Variance | 3.17 |
Asia Tech Image lagged returns against current returns
Autocorrelation, which is Asia Tech 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 Asia Tech's stock expected returns. We can calculate the autocorrelation of Asia Tech returns to help us make a trade decision. For example, suppose you find that Asia Tech 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 |
Asia Tech 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 Asia Tech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Asia Tech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Asia Tech stock over time.
Current vs Lagged Prices |
| Timeline |
Asia Tech Lagged Returns
When evaluating Asia Tech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Asia Tech stock have on its future price. Asia Tech 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, Asia Tech autocorrelation shows the relationship between Asia Tech stock current value and its past values and can show if there is a momentum factor associated with investing in Asia Tech Image.
Regressed Prices |
| Timeline |
Pair Trading with Asia Tech
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 Asia Tech 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 Asia Tech will appreciate offsetting losses from the drop in the long position's value.Moving together with Asia Stock
Moving against Asia Stock
| 0.71 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.66 | 3529 | eMemory Technology | PairCorr |
| 0.65 | 3443 | Global Unichip Corp | PairCorr |
| 0.63 | 2317 | Hon Hai Precision | PairCorr |
| 0.6 | 0057 | Fubon MSCI Taiwan | PairCorr |
The ability to find closely correlated positions to Asia Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Asia Tech 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 Asia Tech - 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 Asia Tech Image to buy it.
The correlation of Asia Tech 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 Asia Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Asia Tech Image 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 Asia Tech 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 Asia Stock Analysis
When running Asia Tech's price analysis, check to measure Asia Tech'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 Asia Tech is operating at the current time. Most of Asia Tech's value examination focuses on studying past and present price action to predict the probability of Asia Tech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Asia Tech's price. Additionally, you may evaluate how the addition of Asia Tech to your portfolios can decrease your overall portfolio volatility.