Tong Hsing (Taiwan) Market Value
| 6271 Stock | TWD 148.00 1.00 0.67% |
| Symbol | Tong |
Tong Hsing '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 Tong Hsing'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 Tong Hsing.
| 03/09/2024 |
| 05/08/2024 |
If you would invest 0.00 in Tong Hsing on March 9, 2024 and sell it all today you would earn a total of 0.00 from holding Tong Hsing Electronic or generate 0.0% return on investment in Tong Hsing over 60 days. Tong Hsing is related to or competes with LARGAN Precision, Evergreen Marine, MediaTek, Yang Ming, and Novatek Microelectronics. Tong Hsing Electronic Industries, Ltd. develops, manufactures, and sells micro modules and custom semiconductor packages... More
Tong Hsing 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 Tong Hsing'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 Tong Hsing Electronic upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.95 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 11.82 | |||
| Value At Risk | (2.71) | |||
| Potential Upside | 3.14 |
Tong Hsing Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tong Hsing's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tong Hsing's standard deviation. In reality, there are many statistical measures that can use Tong Hsing historical prices to predict the future Tong Hsing's volatility.| Risk Adjusted Performance | 0.0256 | |||
| Jensen Alpha | 0.0656 | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | (0.35) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Tong Hsing's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Tong Hsing Electronic Backtested Returns
We consider Tong Hsing very steady. Tong Hsing Electronic owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0353, which indicates the firm had a 0.0353% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Tong Hsing Electronic, which you can use to evaluate the volatility of the company. Please validate Tong Hsing's Coefficient Of Variation of 3384.99, risk adjusted performance of 0.0256, and Semi Deviation of 1.76 to confirm if the risk estimate we provide is consistent with the expected return of 0.0828%. Tong Hsing has a performance score of 2 on a scale of 0 to 100. The entity has a beta of -0.16, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Tong Hsing are expected to decrease at a much lower rate. During the bear market, Tong Hsing is likely to outperform the market. Tong Hsing Electronic right now has a risk of 2.35%. Please validate Tong Hsing downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Tong Hsing will be following its existing price patterns.
Auto-correlation | 0.03 |
Virtually no predictability
Tong Hsing Electronic has virtually no predictability. Overlapping area represents the amount of predictability between Tong Hsing time series from 9th of March 2024 to 8th of April 2024 and 8th of April 2024 to 8th of May 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 Tong Hsing Electronic price movement. The serial correlation of 0.03 indicates that only 3.0% of current Tong Hsing price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.03 | |
| Spearman Rank Test | -0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 16.8 |
Tong Hsing Electronic lagged returns against current returns
Autocorrelation, which is Tong Hsing 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 Tong Hsing's stock expected returns. We can calculate the autocorrelation of Tong Hsing returns to help us make a trade decision. For example, suppose you find that Tong Hsing 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 |
Tong Hsing 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 Tong Hsing stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tong Hsing stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tong Hsing stock over time.
Current vs Lagged Prices |
| Timeline |
Tong Hsing Lagged Returns
When evaluating Tong Hsing's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tong Hsing stock have on its future price. Tong Hsing 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, Tong Hsing autocorrelation shows the relationship between Tong Hsing stock current value and its past values and can show if there is a momentum factor associated with investing in Tong Hsing Electronic.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Tong Hsing in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Tong Hsing's short interest history, or implied volatility extrapolated from Tong Hsing options trading.
Thematic Opportunities
Explore Investment Opportunities
Check out Tong Hsing Correlation, Tong Hsing Volatility and Tong Hsing Alpha and Beta module to complement your research on Tong Hsing. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
Complementary Tools for Tong Stock analysis
When running Tong Hsing's price analysis, check to measure Tong Hsing'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 Tong Hsing is operating at the current time. Most of Tong Hsing's value examination focuses on studying past and present price action to predict the probability of Tong Hsing's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tong Hsing's price. Additionally, you may evaluate how the addition of Tong Hsing to your portfolios can decrease your overall portfolio volatility.
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Tong Hsing technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.