Thong Nhat (Vietnam) Market Value
| BAX Stock | 41,900 100.00 0.24% |
| 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.
| 11/27/2024 |
| 12/27/2024 |
If you would invest 0.00 in Thong Nhat on November 27, 2024 and sell it all today you would earn a total of 0.00 from holding Thong Nhat JSC or generate 0.0% return on investment in Thong Nhat over 30 days.
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 JSC upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.51 | |||
| Information Ratio | 0.03 | |||
| Maximum Drawdown | 10.78 | |||
| Value At Risk | (4.52) | |||
| Potential Upside | 3.84 |
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 | 0.048 | |||
| Jensen Alpha | 0.1406 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | 0.029 | |||
| Treynor Ratio | (0.20) |
Thong Nhat JSC Backtested Returns
Thong Nhat appears to be very steady, given 3 months investment horizon. Thong Nhat JSC owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0789, which indicates the firm had a 0.0789% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Thong Nhat JSC, which you can use to evaluate the volatility of the company. Please review Thong Nhat's Risk Adjusted Performance of 0.048, semi deviation of 2.02, and Coefficient Of Variation of 1922.73 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Thong Nhat holds a performance score of 6. The entity has a beta of -0.57, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Thong Nhat are expected to decrease at a much lower rate. During the bear market, Thong Nhat is likely to outperform the market. Please check Thong Nhat's sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to make a quick decision on whether Thong Nhat's existing price patterns will revert.
Auto-correlation | 0.10 |
Insignificant predictability
Thong Nhat JSC has insignificant predictability. Overlapping area represents the amount of predictability between Thong Nhat time series from 27th of November 2024 to 12th of December 2024 and 12th of December 2024 to 27th 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 Thong Nhat JSC price movement. The serial correlation of 0.1 indicates that less than 10.0% of current Thong Nhat price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.1 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 176.9 K |
Thong Nhat JSC 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 JSC.
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.Moving together with Thong Stock
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 JSC 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 JSC 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.