TCI (Taiwan) Market Value
| 8436 Stock | TWD 125.00 0.50 0.40% |
| Symbol | TCI |
TCI '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 TCI'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 TCI.
| 10/27/2024 |
| 12/26/2024 |
If you would invest 0.00 in TCI on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding TCI Co or generate 0.0% return on investment in TCI over 60 days. TCI is related to or competes with Chlitina Holding, Taiyen Biotech, Nan Liu, DRWu Skincare, Jourdeness, Luo Lih, and Farcent Enterprise. TCI Co., Ltd. engages in the research, development, manufacture, and sale of functional beverages, dietary supplements, ... More
TCI 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 TCI'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 TCI Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 6.61 | |||
| Value At Risk | (2.30) | |||
| Potential Upside | 2.03 |
TCI Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for TCI's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as TCI's standard deviation. In reality, there are many statistical measures that can use TCI historical prices to predict the future TCI's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.13) | |||
| Treynor Ratio | 0.3836 |
TCI Co Backtested Returns
TCI Co owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0905, which indicates the company had a -0.0905% return per unit of volatility over the last 3 months. TCI Co exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate TCI's Risk Adjusted Performance of (0.04), standard deviation of 1.29, and Market Risk Adjusted Performance of 0.3936 to confirm the risk estimate we provide. The firm has a beta of -0.2, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning TCI are expected to decrease at a much lower rate. During the bear market, TCI is likely to outperform the market. At this point, TCI Co has a negative expected return of -0.11%. Please make sure to validate TCI's standard deviation, jensen alpha, and the relationship between the coefficient of variation and information ratio , to decide if TCI Co performance from the past will be repeated in the future.
Auto-correlation | -0.02 |
Very weak reverse predictability
TCI Co has very weak reverse predictability. Overlapping area represents the amount of predictability between TCI time series from 27th of October 2024 to 26th of November 2024 and 26th of November 2024 to 26th 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 TCI Co price movement. The serial correlation of -0.02 indicates that only 2.0% of current TCI price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.02 | |
| Spearman Rank Test | -0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 1.58 |
TCI Co lagged returns against current returns
Autocorrelation, which is TCI 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 TCI's stock expected returns. We can calculate the autocorrelation of TCI returns to help us make a trade decision. For example, suppose you find that TCI 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 |
TCI 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 TCI stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if TCI stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in TCI stock over time.
Current vs Lagged Prices |
| Timeline |
TCI Lagged Returns
When evaluating TCI's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of TCI stock have on its future price. TCI 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, TCI autocorrelation shows the relationship between TCI stock current value and its past values and can show if there is a momentum factor associated with investing in TCI Co.
Regressed Prices |
| Timeline |
Pair Trading with TCI
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 TCI 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 TCI will appreciate offsetting losses from the drop in the long position's value.Moving together with TCI Stock
| 0.92 | 4137 | Chlitina Holding | PairCorr |
| 0.82 | 1737 | Taiyen Biotech | PairCorr |
| 0.71 | 6504 | Nan Liu Enterprise | PairCorr |
Moving against TCI Stock
| 0.86 | 8284 | Mitake Information | PairCorr |
| 0.83 | 5530 | Lungyen Life Service | PairCorr |
| 0.81 | 2891 | CTBC Financial Holding | PairCorr |
| 0.77 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.71 | 6669 | Wiwynn Corp | PairCorr |
The ability to find closely correlated positions to TCI could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TCI 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 TCI - 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 TCI Co to buy it.
The correlation of TCI 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 TCI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TCI Co 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 TCI 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 TCI Stock Analysis
When running TCI's price analysis, check to measure TCI'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 TCI is operating at the current time. Most of TCI's value examination focuses on studying past and present price action to predict the probability of TCI's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move TCI's price. Additionally, you may evaluate how the addition of TCI to your portfolios can decrease your overall portfolio volatility.