Tong Hsing (Taiwan) Market Value
| 6271 Stock | TWD 129.00 2.00 1.57% |
| Symbol | Tong |
Tong Hsing '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 Tong Hsing'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 Tong Hsing.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Tong Hsing on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Tong Hsing Electronic or generate 0.0% return on investment in Tong Hsing over 30 days. Tong Hsing is related to or competes with United Microelectronics, and Winbond Electronics. Tong Hsing Electronic Industries, Ltd. develops, manufactures, and sells micro modules and custom semiconductor packages... More
Tong Hsing 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 Tong Hsing'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 Tong Hsing Electronic upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 7.48 | |||
| Value At Risk | (2.91) | |||
| Potential Upside | 3.17 |
Tong Hsing Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tong Hsing's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tong Hsing's standard deviation. In reality, there are many statistical measures that can use Tong Hsing historical prices to predict the future Tong Hsing's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.42) | |||
| Treynor Ratio | (0.19) |
Tong Hsing Electronic Backtested Returns
Tong Hsing Electronic owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0613, which indicates the firm had a -0.0613% return per unit of risk over the last 3 months. Tong Hsing Electronic exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tong Hsing's Risk Adjusted Performance of (0.04), variance of 3.26, and Coefficient Of Variation of (1,674) to confirm the risk estimate we provide. The entity has a beta of 0.63, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Tong Hsing's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tong Hsing is expected to be smaller as well. At this point, Tong Hsing Electronic has a negative expected return of -0.11%. Please make sure to validate Tong Hsing's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Tong Hsing Electronic performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.08 |
Virtually no predictability
Tong Hsing Electronic has virtually no predictability. Overlapping area represents the amount of predictability between Tong Hsing time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Tong Hsing Electronic price movement. The serial correlation of 0.08 indicates that barely 8.0% of current Tong Hsing price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.08 | |
| Spearman Rank Test | -0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 9.69 |
Tong Hsing Electronic lagged returns against current returns
Autocorrelation, which is Tong Hsing 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 Tong Hsing's stock expected returns. We can calculate the autocorrelation of Tong Hsing returns to help us make a trade decision. For example, suppose you find that Tong Hsing 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 |
Tong Hsing 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 Tong Hsing stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tong Hsing stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tong Hsing stock over time.
Current vs Lagged Prices |
| Timeline |
Tong Hsing Lagged Returns
When evaluating Tong Hsing's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tong Hsing stock have on its future price. Tong Hsing 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, Tong Hsing autocorrelation shows the relationship between Tong Hsing stock current value and its past values and can show if there is a momentum factor associated with investing in Tong Hsing Electronic.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Tong Stock Analysis
When running Tong Hsing's price analysis, check to measure Tong Hsing'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 Tong Hsing is operating at the current time. Most of Tong Hsing's value examination focuses on studying past and present price action to predict the probability of Tong Hsing's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tong Hsing's price. Additionally, you may evaluate how the addition of Tong Hsing to your portfolios can decrease your overall portfolio volatility.