GrandTech (Taiwan) Market Value
| 6123 Stock | TWD 56.80 0.30 0.53% |
| Symbol | GrandTech |
GrandTech '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 GrandTech'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 GrandTech.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in GrandTech on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding GrandTech CG Systems or generate 0.0% return on investment in GrandTech over 720 days. GrandTech is related to or competes with Jia Jie, Onyx Healthcare, Genovate Biotechnology, SynCore Biotechnology, and Medigen Biotechnology. More
GrandTech 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 GrandTech'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 GrandTech CG Systems upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.27) | |||
| Maximum Drawdown | 4.65 | |||
| Value At Risk | (1.80) | |||
| Potential Upside | 0.8319 |
GrandTech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for GrandTech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as GrandTech's standard deviation. In reality, there are many statistical measures that can use GrandTech historical prices to predict the future GrandTech's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | (1.20) |
GrandTech CG Systems Backtested Returns
GrandTech CG Systems holds Efficiency (Sharpe) Ratio of -0.17, which attests that the entity had a -0.17% return per unit of standard deviation over the last 3 months. GrandTech CG Systems exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out GrandTech's risk adjusted performance of (0.09), and Market Risk Adjusted Performance of (1.19) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.0953, which attests to not very significant fluctuations relative to the market. As returns on the market increase, GrandTech's returns are expected to increase less than the market. However, during the bear market, the loss of holding GrandTech is expected to be smaller as well. At this point, GrandTech CG Systems has a negative expected return of -0.14%. Please make sure to check out GrandTech's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if GrandTech CG Systems performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.02 |
Very weak reverse predictability
GrandTech CG Systems has very weak reverse predictability. Overlapping area represents the amount of predictability between GrandTech time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 to 28th 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 GrandTech CG Systems price movement. The serial correlation of -0.02 indicates that only 2.0% of current GrandTech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.02 | |
| Spearman Rank Test | -0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 23.53 |
GrandTech CG Systems lagged returns against current returns
Autocorrelation, which is GrandTech 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 GrandTech's stock expected returns. We can calculate the autocorrelation of GrandTech returns to help us make a trade decision. For example, suppose you find that GrandTech 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 |
GrandTech 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 GrandTech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if GrandTech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in GrandTech stock over time.
Current vs Lagged Prices |
| Timeline |
GrandTech Lagged Returns
When evaluating GrandTech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of GrandTech stock have on its future price. GrandTech 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, GrandTech autocorrelation shows the relationship between GrandTech stock current value and its past values and can show if there is a momentum factor associated with investing in GrandTech CG Systems.
Regressed Prices |
| Timeline |
Pair Trading with GrandTech
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 GrandTech 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 GrandTech will appreciate offsetting losses from the drop in the long position's value.Moving together with GrandTech Stock
Moving against GrandTech Stock
| 0.43 | 2317 | Hon Hai Precision | PairCorr |
| 0.4 | 6776 | Weblink International | PairCorr |
| 0.4 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.37 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.35 | 3224 | MetaTech AP | PairCorr |
The ability to find closely correlated positions to GrandTech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GrandTech 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 GrandTech - 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 GrandTech CG Systems to buy it.
The correlation of GrandTech 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 GrandTech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GrandTech CG Systems 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 GrandTech 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 GrandTech Stock Analysis
When running GrandTech's price analysis, check to measure GrandTech'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 GrandTech is operating at the current time. Most of GrandTech's value examination focuses on studying past and present price action to predict the probability of GrandTech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move GrandTech's price. Additionally, you may evaluate how the addition of GrandTech to your portfolios can decrease your overall portfolio volatility.