Highlight Tech (Taiwan) Market Value
| 6208 Stock | TWD 53.60 0.40 0.75% |
| Symbol | Highlight |
Highlight Tech '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 Highlight Tech'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 Highlight Tech.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Highlight Tech on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Highlight Tech or generate 0.0% return on investment in Highlight Tech over 720 days. Highlight Tech is related to or competes with WiseChip Semiconductor, Novatek Microelectronics, Leader Electronics, Information Technology, Kinko Optical, and Giant Manufacturing. More
Highlight Tech 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 Highlight Tech'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 Highlight Tech upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.26 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 32.4 | |||
| Value At Risk | (3.38) | |||
| Potential Upside | 3.04 |
Highlight Tech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Highlight Tech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Highlight Tech's standard deviation. In reality, there are many statistical measures that can use Highlight Tech historical prices to predict the future Highlight Tech's volatility.| Risk Adjusted Performance | 0.0102 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.65) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.0027 |
Highlight Tech Backtested Returns
At this stage we consider Highlight Stock to be very steady. Highlight Tech holds Efficiency (Sharpe) Ratio of 0.0119, which attests that the entity had a 0.0119% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Highlight Tech, which you can use to evaluate the volatility of the firm. Please check out Highlight Tech's Downside Deviation of 2.26, market risk adjusted performance of 0.0127, and Risk Adjusted Performance of 0.0102 to validate if the risk estimate we provide is consistent with the expected return of 0.0468%. The company retains a Market Volatility (i.e., Beta) of 0.36, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Highlight Tech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Highlight Tech is expected to be smaller as well. Highlight Tech right now retains a risk of 3.95%. Please check out Highlight Tech semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to decide if Highlight Tech will be following its current trending patterns.
Auto-correlation | 0.22 |
Weak predictability
Highlight Tech has weak predictability. Overlapping area represents the amount of predictability between Highlight Tech time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 Highlight Tech price movement. The serial correlation of 0.22 indicates that over 22.0% of current Highlight Tech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.22 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 30.75 |
Highlight Tech lagged returns against current returns
Autocorrelation, which is Highlight Tech 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 Highlight Tech's stock expected returns. We can calculate the autocorrelation of Highlight Tech returns to help us make a trade decision. For example, suppose you find that Highlight Tech 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 |
Highlight Tech 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 Highlight Tech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Highlight Tech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Highlight Tech stock over time.
Current vs Lagged Prices |
| Timeline |
Highlight Tech Lagged Returns
When evaluating Highlight Tech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Highlight Tech stock have on its future price. Highlight Tech 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, Highlight Tech autocorrelation shows the relationship between Highlight Tech stock current value and its past values and can show if there is a momentum factor associated with investing in Highlight Tech.
Regressed Prices |
| Timeline |
Pair Trading with Highlight Tech
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 Highlight Tech 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 Highlight Tech will appreciate offsetting losses from the drop in the long position's value.Moving against Highlight Stock
The ability to find closely correlated positions to Highlight Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Highlight Tech 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 Highlight Tech - 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 Highlight Tech to buy it.
The correlation of Highlight Tech 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 Highlight Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Highlight Tech 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 Highlight Tech 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 Highlight Stock Analysis
When running Highlight Tech's price analysis, check to measure Highlight Tech'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 Highlight Tech is operating at the current time. Most of Highlight Tech's value examination focuses on studying past and present price action to predict the probability of Highlight Tech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Highlight Tech's price. Additionally, you may evaluate how the addition of Highlight Tech to your portfolios can decrease your overall portfolio volatility.