Brighten Optix (Taiwan) Market Value
| 6747 Stock | TWD 133.50 2.50 1.84% |
| Symbol | Brighten |
Brighten Optix '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 Brighten Optix'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 Brighten Optix.
| 09/04/2023 |
| 11/27/2024 |
If you would invest 0.00 in Brighten Optix on September 4, 2023 and sell it all today you would earn a total of 0.00 from holding Brighten Optix or generate 0.0% return on investment in Brighten Optix over 450 days. Brighten Optix is related to or competes with Universal Vision, Excelsior Medical, Delta Asia, Hi Clearance, Medtecs International, and United Orthopedic. Brighten Optix Corporation researches and develops, manufactures, and sells specialty contact lenses in Taiwan and the A... More
Brighten Optix 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 Brighten Optix'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 Brighten Optix upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 4.35 | |||
| Value At Risk | (1.63) | |||
| Potential Upside | 1.32 |
Brighten Optix Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Brighten Optix's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Brighten Optix's standard deviation. In reality, there are many statistical measures that can use Brighten Optix historical prices to predict the future Brighten Optix's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.28) | |||
| Treynor Ratio | 1.2 |
Brighten Optix Backtested Returns
Brighten Optix secures Sharpe Ratio (or Efficiency) of -0.22, which signifies that the company had a -0.22% return per unit of risk over the last 3 months. Brighten Optix exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Brighten Optix's Mean Deviation of 0.648, risk adjusted performance of (0.12), and Standard Deviation of 0.8807 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.12, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Brighten Optix are expected to decrease at a much lower rate. During the bear market, Brighten Optix is likely to outperform the market. At this point, Brighten Optix has a negative expected return of -0.2%. Please make sure to confirm Brighten Optix's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Brighten Optix performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.20 |
Weak predictability
Brighten Optix has weak predictability. Overlapping area represents the amount of predictability between Brighten Optix time series from 4th of September 2023 to 16th of April 2024 and 16th of April 2024 to 27th 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 Brighten Optix price movement. The serial correlation of 0.2 indicates that over 20.0% of current Brighten Optix price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | 0.21 | |
| Residual Average | 0.0 | |
| Price Variance | 181.06 |
Brighten Optix lagged returns against current returns
Autocorrelation, which is Brighten Optix 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 Brighten Optix's stock expected returns. We can calculate the autocorrelation of Brighten Optix returns to help us make a trade decision. For example, suppose you find that Brighten Optix 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 |
Brighten Optix 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 Brighten Optix stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Brighten Optix stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Brighten Optix stock over time.
Current vs Lagged Prices |
| Timeline |
Brighten Optix Lagged Returns
When evaluating Brighten Optix's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Brighten Optix stock have on its future price. Brighten Optix 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, Brighten Optix autocorrelation shows the relationship between Brighten Optix stock current value and its past values and can show if there is a momentum factor associated with investing in Brighten Optix.
Regressed Prices |
| Timeline |
Pair Trading with Brighten Optix
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 Brighten Optix 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 Brighten Optix will appreciate offsetting losses from the drop in the long position's value.Moving together with Brighten Stock
| 0.75 | 3218 | Universal Vision Bio | PairCorr |
| 0.65 | 4104 | Excelsior Medical | PairCorr |
| 0.77 | 6762 | Delta Asia International | PairCorr |
Moving against Brighten Stock
| 0.69 | 6763 | Green World Fintech Split | PairCorr |
| 0.56 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.5 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.43 | 4129 | United Orthopedic | PairCorr |
| 0.41 | 0053 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Brighten Optix could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Brighten Optix 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 Brighten Optix - 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 Brighten Optix to buy it.
The correlation of Brighten Optix 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 Brighten Optix moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Brighten Optix 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 Brighten Optix 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 Brighten Stock Analysis
When running Brighten Optix's price analysis, check to measure Brighten Optix'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 Brighten Optix is operating at the current time. Most of Brighten Optix's value examination focuses on studying past and present price action to predict the probability of Brighten Optix's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Brighten Optix's price. Additionally, you may evaluate how the addition of Brighten Optix to your portfolios can decrease your overall portfolio volatility.