Top Union (Taiwan) Market Value
| 6266 Stock | TWD 33.20 0.65 1.92% |
| Symbol | Top |
Top Union '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 Top Union'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 Top Union.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Top Union on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Top Union Electronics or generate 0.0% return on investment in Top Union over 30 days. Top Union is related to or competes with Sino American, Powertech Technology, Formosa Sumco, Radiant Opto, Faraday Technology, Tong Hsing, and Topco Scientific. Top Union Electronics Corp. provides electronic manufacturing services in Taiwan and China More
Top Union 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 Top Union'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 Top Union Electronics upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.05 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 4.94 | |||
| Value At Risk | (1.49) | |||
| Potential Upside | 2.12 |
Top Union Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Top Union's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Top Union's standard deviation. In reality, there are many statistical measures that can use Top Union historical prices to predict the future Top Union's volatility.| Risk Adjusted Performance | 0.0752 | |||
| Jensen Alpha | 0.0754 | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.8739 |
Top Union Electronics Backtested Returns
At this stage we consider Top Stock to be very steady. Top Union Electronics owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0699, which indicates the firm had a 0.0699% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Top Union Electronics, which you can use to evaluate the volatility of the company. Please validate Top Union's Semi Deviation of 0.8038, coefficient of variation of 1052.99, and Risk Adjusted Performance of 0.0752 to confirm if the risk estimate we provide is consistent with the expected return of 0.0752%. Top Union has a performance score of 5 on a scale of 0 to 100. The entity has a beta of 0.1, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Top Union's returns are expected to increase less than the market. However, during the bear market, the loss of holding Top Union is expected to be smaller as well. Top Union Electronics right now has a risk of 1.08%. Please validate Top Union jensen alpha, sortino ratio, and the relationship between the standard deviation and total risk alpha , to decide if Top Union will be following its existing price patterns.
Auto-correlation | 0.57 |
Modest predictability
Top Union Electronics has modest predictability. Overlapping area represents the amount of predictability between Top Union time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 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 Top Union Electronics price movement. The serial correlation of 0.57 indicates that roughly 57.0% of current Top Union price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.57 | |
| Spearman Rank Test | 0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 0.11 |
Top Union Electronics lagged returns against current returns
Autocorrelation, which is Top Union 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 Top Union's stock expected returns. We can calculate the autocorrelation of Top Union returns to help us make a trade decision. For example, suppose you find that Top Union 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 |
Top Union 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 Top Union stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Top Union stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Top Union stock over time.
Current vs Lagged Prices |
| Timeline |
Top Union Lagged Returns
When evaluating Top Union's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Top Union stock have on its future price. Top Union 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, Top Union autocorrelation shows the relationship between Top Union stock current value and its past values and can show if there is a momentum factor associated with investing in Top Union Electronics.
Regressed Prices |
| Timeline |
Pair Trading with Top Union
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 Top Union 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 Top Union will appreciate offsetting losses from the drop in the long position's value.Moving against Top Stock
| 0.54 | 6239 | Powertech Technology | PairCorr |
| 0.54 | 3532 | Formosa Sumco Technology | PairCorr |
| 0.54 | 3035 | Faraday Technology Corp | PairCorr |
| 0.54 | 3264 | Ardentec | PairCorr |
| 0.51 | 5483 | Sino American Silicon | PairCorr |
The ability to find closely correlated positions to Top Union could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Top Union 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 Top Union - 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 Top Union Electronics to buy it.
The correlation of Top Union 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 Top Union moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Top Union Electronics 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 Top Union 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 Top Stock Analysis
When running Top Union's price analysis, check to measure Top Union'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 Top Union is operating at the current time. Most of Top Union's value examination focuses on studying past and present price action to predict the probability of Top Union's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Top Union's price. Additionally, you may evaluate how the addition of Top Union to your portfolios can decrease your overall portfolio volatility.