Professional Computer (Taiwan) Market Value
| 6270 Stock | TWD 26.50 0.55 2.12% |
| Symbol | Professional |
Professional Computer '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 Professional Computer'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 Professional Computer.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Professional Computer on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Professional Computer Technology or generate 0.0% return on investment in Professional Computer over 30 days. Professional Computer is related to or competes with Taiwan Semiconductor, MediaTek, United Microelectronics, Novatek Microelectronics, Silergy Corp, GlobalWafers, and Realtek Semiconductor. More
Professional Computer 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 Professional Computer'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 Professional Computer Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 9.18 | |||
| Value At Risk | (2.78) | |||
| Potential Upside | 3.42 |
Professional Computer Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Professional Computer's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Professional Computer's standard deviation. In reality, there are many statistical measures that can use Professional Computer historical prices to predict the future Professional Computer's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.39) | |||
| Treynor Ratio | 0.5573 |
Professional Computer Backtested Returns
Professional Computer maintains Sharpe Ratio (i.e., Efficiency) of -0.0306, which implies the firm had a -0.0306% return per unit of risk over the last 3 months. Professional Computer exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Professional Computer's Risk Adjusted Performance of (0.01), variance of 3.88, and Coefficient Of Variation of (3,887) to confirm the risk estimate we provide. The company holds a Beta of -0.11, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Professional Computer are expected to decrease at a much lower rate. During the bear market, Professional Computer is likely to outperform the market. At this point, Professional Computer has a negative expected return of -0.0609%. Please make sure to check Professional Computer's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Professional Computer performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.64 |
Good predictability
Professional Computer Technology has good predictability. Overlapping area represents the amount of predictability between Professional Computer time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 Professional Computer price movement. The serial correlation of 0.64 indicates that roughly 64.0% of current Professional Computer price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.64 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.21 |
Professional Computer lagged returns against current returns
Autocorrelation, which is Professional Computer 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 Professional Computer's stock expected returns. We can calculate the autocorrelation of Professional Computer returns to help us make a trade decision. For example, suppose you find that Professional Computer 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 |
Professional Computer 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 Professional Computer stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Professional Computer stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Professional Computer stock over time.
Current vs Lagged Prices |
| Timeline |
Professional Computer Lagged Returns
When evaluating Professional Computer's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Professional Computer stock have on its future price. Professional Computer 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, Professional Computer autocorrelation shows the relationship between Professional Computer stock current value and its past values and can show if there is a momentum factor associated with investing in Professional Computer Technology.
Regressed Prices |
| Timeline |
Pair Trading with Professional Computer
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 Professional Computer 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 Professional Computer will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Professional Computer could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Professional Computer 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 Professional Computer - 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 Professional Computer Technology to buy it.
The correlation of Professional Computer 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 Professional Computer moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Professional Computer 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 Professional Computer 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 Professional Stock Analysis
When running Professional Computer's price analysis, check to measure Professional Computer'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 Professional Computer is operating at the current time. Most of Professional Computer's value examination focuses on studying past and present price action to predict the probability of Professional Computer's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Professional Computer's price. Additionally, you may evaluate how the addition of Professional Computer to your portfolios can decrease your overall portfolio volatility.