Bioteque (Taiwan) Market Value
| 4107 Stock | TWD 127.00 1.00 0.79% |
| Symbol | Bioteque |
Bioteque '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 Bioteque'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 Bioteque.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Bioteque on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Bioteque or generate 0.0% return on investment in Bioteque over 30 days. Bioteque is related to or competes with WiseChip Semiconductor, Novatek Microelectronics, Leader Electronics, Information Technology, Kinko Optical, Giant Manufacturing, and Cathay Financial. More
Bioteque 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 Bioteque'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 Bioteque upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.29) | |||
| Maximum Drawdown | 4.06 | |||
| Value At Risk | (1.18) | |||
| Potential Upside | 0.8032 |
Bioteque Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bioteque's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bioteque's standard deviation. In reality, there are many statistical measures that can use Bioteque historical prices to predict the future Bioteque's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | (0.59) |
Bioteque Backtested Returns
Bioteque secures Sharpe Ratio (or Efficiency) of -0.0629, which signifies that the company had a -0.0629% return per unit of risk over the last 3 months. Bioteque exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Bioteque's Mean Deviation of 0.5745, standard deviation of 0.8263, and Risk Adjusted Performance of (0.11) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.22, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Bioteque's returns are expected to increase less than the market. However, during the bear market, the loss of holding Bioteque is expected to be smaller as well. At this point, Bioteque has a negative expected return of -0.041%. Please make sure to confirm Bioteque's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Bioteque performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.01 |
Virtually no predictability
Bioteque has virtually no predictability. Overlapping area represents the amount of predictability between Bioteque time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th 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 Bioteque price movement. The serial correlation of 0.01 indicates that just 1.0% of current Bioteque price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.01 | |
| Spearman Rank Test | -0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.51 |
Bioteque lagged returns against current returns
Autocorrelation, which is Bioteque 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 Bioteque's stock expected returns. We can calculate the autocorrelation of Bioteque returns to help us make a trade decision. For example, suppose you find that Bioteque 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 |
Bioteque 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 Bioteque stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bioteque stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bioteque stock over time.
Current vs Lagged Prices |
| Timeline |
Bioteque Lagged Returns
When evaluating Bioteque's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bioteque stock have on its future price. Bioteque 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, Bioteque autocorrelation shows the relationship between Bioteque stock current value and its past values and can show if there is a momentum factor associated with investing in Bioteque.
Regressed Prices |
| Timeline |
Pair Trading with Bioteque
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 Bioteque 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 Bioteque will appreciate offsetting losses from the drop in the long position's value.Moving together with Bioteque Stock
Moving against Bioteque Stock
| 0.71 | 6763 | Green World Fintech | PairCorr |
| 0.66 | 1565 | StShine Optical | PairCorr |
| 0.65 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.65 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.61 | 0053 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Bioteque could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bioteque 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 Bioteque - 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 Bioteque to buy it.
The correlation of Bioteque 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 Bioteque moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bioteque 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 Bioteque 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 Bioteque Stock Analysis
When running Bioteque's price analysis, check to measure Bioteque'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 Bioteque is operating at the current time. Most of Bioteque's value examination focuses on studying past and present price action to predict the probability of Bioteque's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bioteque's price. Additionally, you may evaluate how the addition of Bioteque to your portfolios can decrease your overall portfolio volatility.