Thong Nhat (Vietnam) Market Value
| TNC Stock | 34,700 2,200 6.77% |
| Symbol | Thong |
Thong Nhat '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 Thong Nhat'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 Thong Nhat.
| 06/01/2024 |
| 11/28/2024 |
If you would invest 0.00 in Thong Nhat on June 1, 2024 and sell it all today you would earn a total of 0.00 from holding Thong Nhat Rubber or generate 0.0% return on investment in Thong Nhat over 180 days. Thong Nhat is related to or competes with FIT INVEST, Damsan JSC, An Phat, Alphanam, APG Securities, Binhthuan Agriculture, and Mekong Fisheries. More
Thong Nhat 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 Thong Nhat'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 Thong Nhat Rubber upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 13.54 | |||
| Value At Risk | (6.78) | |||
| Potential Upside | 6.3 |
Thong Nhat Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Thong Nhat's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Thong Nhat's standard deviation. In reality, there are many statistical measures that can use Thong Nhat historical prices to predict the future Thong Nhat's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.79) | |||
| Treynor Ratio | 0.2594 |
Thong Nhat Rubber Backtested Returns
Thong Nhat Rubber owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0534, which indicates the firm had a -0.0534% return per unit of risk over the last 3 months. Thong Nhat Rubber exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Thong Nhat's Coefficient Of Variation of (1,792), risk adjusted performance of (0.03), and Variance of 14.46 to confirm the risk estimate we provide. The entity has a beta of -0.86, which indicates possible diversification benefits within a given portfolio. As the market becomes more bullish, returns on owning Thong Nhat are expected to decrease slowly. On the other hand, during market turmoil, Thong Nhat is expected to outperform it slightly. At this point, Thong Nhat Rubber has a negative expected return of -0.21%. Please make sure to validate Thong Nhat's skewness, as well as the relationship between the rate of daily change and price action indicator , to decide if Thong Nhat Rubber performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.40 |
Average predictability
Thong Nhat Rubber has average predictability. Overlapping area represents the amount of predictability between Thong Nhat time series from 1st of June 2024 to 30th of August 2024 and 30th of August 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 Thong Nhat Rubber price movement. The serial correlation of 0.4 indicates that just about 40.0% of current Thong Nhat price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.4 | |
| Spearman Rank Test | 0.48 | |
| Residual Average | 0.0 | |
| Price Variance | 2.1 M |
Thong Nhat Rubber lagged returns against current returns
Autocorrelation, which is Thong Nhat 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 Thong Nhat's stock expected returns. We can calculate the autocorrelation of Thong Nhat returns to help us make a trade decision. For example, suppose you find that Thong Nhat 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 |
Thong Nhat 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 Thong Nhat stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Thong Nhat stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Thong Nhat stock over time.
Current vs Lagged Prices |
| Timeline |
Thong Nhat Lagged Returns
When evaluating Thong Nhat's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Thong Nhat stock have on its future price. Thong Nhat 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, Thong Nhat autocorrelation shows the relationship between Thong Nhat stock current value and its past values and can show if there is a momentum factor associated with investing in Thong Nhat Rubber.
Regressed Prices |
| Timeline |
Pair Trading with Thong Nhat
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 Thong Nhat 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 Thong Nhat will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Thong Nhat could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Thong Nhat 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 Thong Nhat - 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 Thong Nhat Rubber to buy it.
The correlation of Thong Nhat 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 Thong Nhat moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Thong Nhat Rubber 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 Thong Nhat 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.Other Information on Investing in Thong Stock
Thong Nhat financial ratios help investors to determine whether Thong Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Thong with respect to the benefits of owning Thong Nhat security.