Wonderful (Taiwan) Market Value
| 6190 Stock | TWD 38.90 0.10 0.26% |
| Symbol | Wonderful |
Wonderful '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 Wonderful'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 Wonderful.
| 04/07/2023 |
| 02/25/2025 |
If you would invest 0.00 in Wonderful on April 7, 2023 and sell it all today you would earn a total of 0.00 from holding Wonderful Hi Tech Co or generate 0.0% return on investment in Wonderful over 690 days. Wonderful is related to or competes with Standard Chemical, China Times, Landis Taipei, Ambassador Hotel, Hsinli Chemical, Mechema Chemicals, and Pan Asia. More
Wonderful 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 Wonderful'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 Wonderful Hi Tech Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.64 | |||
| Information Ratio | 0.082 | |||
| Maximum Drawdown | 7.43 | |||
| Value At Risk | (2.79) | |||
| Potential Upside | 2.78 |
Wonderful Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wonderful's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wonderful's standard deviation. In reality, there are many statistical measures that can use Wonderful historical prices to predict the future Wonderful's volatility.| Risk Adjusted Performance | 0.068 | |||
| Jensen Alpha | 0.1235 | |||
| Total Risk Alpha | 0.137 | |||
| Sortino Ratio | 0.0802 | |||
| Treynor Ratio | (0.21) |
Wonderful Hi Tech Backtested Returns
Wonderful appears to be very steady, given 3 months investment horizon. Wonderful Hi Tech shows Sharpe Ratio of 0.14, which attests that the company had a 0.14 % return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Wonderful Hi Tech, which you can use to evaluate the volatility of the company. Please utilize Wonderful's Mean Deviation of 1.24, market risk adjusted performance of (0.20), and Downside Deviation of 1.64 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Wonderful holds a performance score of 10. The firm maintains a market beta of -0.61, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Wonderful are expected to decrease at a much lower rate. During the bear market, Wonderful is likely to outperform the market. Please check Wonderful's information ratio, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Wonderful's historical returns will revert.
Auto-correlation | 0.69 |
Good predictability
Wonderful Hi Tech Co has good predictability. Overlapping area represents the amount of predictability between Wonderful time series from 7th of April 2023 to 17th of March 2024 and 17th of March 2024 to 25th of February 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Wonderful Hi Tech price movement. The serial correlation of 0.69 indicates that around 69.0% of current Wonderful price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.69 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 5.02 |
Wonderful Hi Tech lagged returns against current returns
Autocorrelation, which is Wonderful 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 Wonderful's stock expected returns. We can calculate the autocorrelation of Wonderful returns to help us make a trade decision. For example, suppose you find that Wonderful 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 |
Wonderful 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 Wonderful stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wonderful stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wonderful stock over time.
Current vs Lagged Prices |
| Timeline |
Wonderful Lagged Returns
When evaluating Wonderful's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wonderful stock have on its future price. Wonderful 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, Wonderful autocorrelation shows the relationship between Wonderful stock current value and its past values and can show if there is a momentum factor associated with investing in Wonderful Hi Tech Co.
Regressed Prices |
| Timeline |
Pair Trading with Wonderful
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 Wonderful 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 Wonderful will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Wonderful could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wonderful 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 Wonderful - 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 Wonderful Hi Tech Co to buy it.
The correlation of Wonderful 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 Wonderful moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wonderful Hi Tech 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 Wonderful 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 Wonderful Stock Analysis
When running Wonderful's price analysis, check to measure Wonderful'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 Wonderful is operating at the current time. Most of Wonderful's value examination focuses on studying past and present price action to predict the probability of Wonderful's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Wonderful's price. Additionally, you may evaluate how the addition of Wonderful to your portfolios can decrease your overall portfolio volatility.