Wholetech System (Taiwan) Market Value
| 3402 Stock | TWD 102.00 2.00 2.00% |
| Symbol | Wholetech |
Wholetech System '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 Wholetech System'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 Wholetech System.
| 12/12/2022 |
| 12/01/2024 |
If you would invest 0.00 in Wholetech System on December 12, 2022 and sell it all today you would earn a total of 0.00 from holding Wholetech System Hitech or generate 0.0% return on investment in Wholetech System over 720 days. Wholetech System is related to or competes with United Microelectronics, and Winbond Electronics. More
Wholetech System 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 Wholetech System'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 Wholetech System Hitech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 15.71 | |||
| Value At Risk | (3.33) | |||
| Potential Upside | 2.49 |
Wholetech System Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wholetech System's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wholetech System's standard deviation. In reality, there are many statistical measures that can use Wholetech System historical prices to predict the future Wholetech System's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.52) | |||
| Treynor Ratio | (0.38) |
Wholetech System Hitech Backtested Returns
Wholetech System Hitech shows Sharpe Ratio of -0.0335, which attests that the company had a -0.0335% return per unit of risk over the last 3 months. Wholetech System Hitech exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Wholetech System's Mean Deviation of 1.6, standard deviation of 2.29, and Market Risk Adjusted Performance of (0.37) to validate the risk estimate we provide. The firm maintains a market beta of 0.37, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Wholetech System's returns are expected to increase less than the market. However, during the bear market, the loss of holding Wholetech System is expected to be smaller as well. At this point, Wholetech System Hitech has a negative expected return of -0.0774%. Please make sure to check out Wholetech System's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Wholetech System Hitech performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.53 |
Modest predictability
Wholetech System Hitech has modest predictability. Overlapping area represents the amount of predictability between Wholetech System time series from 12th of December 2022 to 7th of December 2023 and 7th of December 2023 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 Wholetech System Hitech price movement. The serial correlation of 0.53 indicates that about 53.0% of current Wholetech System price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 200.16 |
Wholetech System Hitech lagged returns against current returns
Autocorrelation, which is Wholetech System 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 Wholetech System's stock expected returns. We can calculate the autocorrelation of Wholetech System returns to help us make a trade decision. For example, suppose you find that Wholetech System 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 |
Wholetech System 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 Wholetech System stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wholetech System stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wholetech System stock over time.
Current vs Lagged Prices |
| Timeline |
Wholetech System Lagged Returns
When evaluating Wholetech System's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wholetech System stock have on its future price. Wholetech System 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, Wholetech System autocorrelation shows the relationship between Wholetech System stock current value and its past values and can show if there is a momentum factor associated with investing in Wholetech System Hitech.
Regressed Prices |
| Timeline |
Pair Trading with Wholetech System
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 Wholetech System 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 Wholetech System will appreciate offsetting losses from the drop in the long position's value.Moving against Wholetech Stock
The ability to find closely correlated positions to Wholetech System could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wholetech System 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 Wholetech System - 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 Wholetech System Hitech to buy it.
The correlation of Wholetech System 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 Wholetech System moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wholetech System Hitech 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 Wholetech System 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 Wholetech Stock Analysis
When running Wholetech System's price analysis, check to measure Wholetech System'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 Wholetech System is operating at the current time. Most of Wholetech System's value examination focuses on studying past and present price action to predict the probability of Wholetech System's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Wholetech System's price. Additionally, you may evaluate how the addition of Wholetech System to your portfolios can decrease your overall portfolio volatility.