Taiwan Hopax (Taiwan) Market Value
| 6509 Stock | TWD 42.10 0.25 0.59% |
| Symbol | Taiwan |
Taiwan Hopax '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 Taiwan Hopax'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 Taiwan Hopax.
| 08/02/2023 |
| 11/24/2024 |
If you would invest 0.00 in Taiwan Hopax on August 2, 2023 and sell it all today you would earn a total of 0.00 from holding Taiwan Hopax Chemsistry or generate 0.0% return on investment in Taiwan Hopax over 480 days. Taiwan Hopax is related to or competes with Mechema Chemicals, Coremax Corp, China Steel, Wafer Works, and Ta Chen. ,Ltd. produces and sells diversified chemical products in the areas of specialty chemicals, fine chemicals, and repositi... More
Taiwan Hopax 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 Taiwan Hopax'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 Taiwan Hopax Chemsistry upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.41 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 8.08 | |||
| Value At Risk | (2.04) | |||
| Potential Upside | 1.91 |
Taiwan Hopax Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Taiwan Hopax's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Taiwan Hopax's standard deviation. In reality, there are many statistical measures that can use Taiwan Hopax historical prices to predict the future Taiwan Hopax's volatility.| Risk Adjusted Performance | 0.0509 | |||
| Jensen Alpha | 0.045 | |||
| Total Risk Alpha | (0.14) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.3156 |
Taiwan Hopax Chemsistry Backtested Returns
At this stage we consider Taiwan Stock to be very steady. Taiwan Hopax Chemsistry owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0628, which indicates the firm had a 0.0628% return per unit of risk over the last 3 months. We have found thirty technical indicators for Taiwan Hopax Chemsistry, which you can use to evaluate the volatility of the company. Please validate Taiwan Hopax's Risk Adjusted Performance of 0.0509, coefficient of variation of 1649.4, and Semi Deviation of 1.15 to confirm if the risk estimate we provide is consistent with the expected return of 0.073%. Taiwan Hopax has a performance score of 4 on a scale of 0 to 100. The entity has a beta of 0.23, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Taiwan Hopax's returns are expected to increase less than the market. However, during the bear market, the loss of holding Taiwan Hopax is expected to be smaller as well. Taiwan Hopax Chemsistry right now has a risk of 1.16%. Please validate Taiwan Hopax downside deviation, standard deviation, and the relationship between the semi deviation and coefficient of variation , to decide if Taiwan Hopax will be following its existing price patterns.
Auto-correlation | -0.01 |
Very weak reverse predictability
Taiwan Hopax Chemsistry has very weak reverse predictability. Overlapping area represents the amount of predictability between Taiwan Hopax time series from 2nd of August 2023 to 29th of March 2024 and 29th of March 2024 to 24th 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 Taiwan Hopax Chemsistry price movement. The serial correlation of -0.01 indicates that just 1.0% of current Taiwan Hopax price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.01 | |
| Spearman Rank Test | 0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 5.24 |
Taiwan Hopax Chemsistry lagged returns against current returns
Autocorrelation, which is Taiwan Hopax 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 Taiwan Hopax's stock expected returns. We can calculate the autocorrelation of Taiwan Hopax returns to help us make a trade decision. For example, suppose you find that Taiwan Hopax 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 |
Taiwan Hopax 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 Taiwan Hopax stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Taiwan Hopax stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Taiwan Hopax stock over time.
Current vs Lagged Prices |
| Timeline |
Taiwan Hopax Lagged Returns
When evaluating Taiwan Hopax's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Taiwan Hopax stock have on its future price. Taiwan Hopax 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, Taiwan Hopax autocorrelation shows the relationship between Taiwan Hopax stock current value and its past values and can show if there is a momentum factor associated with investing in Taiwan Hopax Chemsistry.
Regressed Prices |
| Timeline |
Pair Trading with Taiwan Hopax
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 Taiwan Hopax 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 Taiwan Hopax will appreciate offsetting losses from the drop in the long position's value.Moving against Taiwan Stock
| 0.77 | 2891C | CTBC Financial Holding | PairCorr |
| 0.72 | 2888 | Shin Kong Financial Earnings Call This Week | PairCorr |
| 0.62 | 1314 | China Petrochemical | PairCorr |
| 0.44 | 2104 | International CSRC | PairCorr |
| 0.4 | 2108 | Nantex Industry | PairCorr |
The ability to find closely correlated positions to Taiwan Hopax could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taiwan Hopax 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 Taiwan Hopax - 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 Taiwan Hopax Chemsistry to buy it.
The correlation of Taiwan Hopax 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 Taiwan Hopax moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taiwan Hopax Chemsistry 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 Taiwan Hopax 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 Taiwan Stock Analysis
When running Taiwan Hopax's price analysis, check to measure Taiwan Hopax'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 Taiwan Hopax is operating at the current time. Most of Taiwan Hopax's value examination focuses on studying past and present price action to predict the probability of Taiwan Hopax's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Taiwan Hopax's price. Additionally, you may evaluate how the addition of Taiwan Hopax to your portfolios can decrease your overall portfolio volatility.