United Microelectronics (Taiwan) Market Value
| 2303 Stock | TWD 55.00 0.80 1.43% |
| Symbol | United |
United Microelectronics '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 United Microelectronics' 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 United Microelectronics.
| 03/04/2024 |
| 06/02/2024 |
If you would invest 0.00 in United Microelectronics on March 4, 2024 and sell it all today you would earn a total of 0.00 from holding United Microelectronics or generate 0.0% return on investment in United Microelectronics over 90 days. United Microelectronics is related to or competes with AU Optronics, Macronix International, Winbond Electronics, Hon Hai, and MediaTek. United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Ja... More
United Microelectronics 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 United Microelectronics' 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 United Microelectronics upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.21 | |||
| Information Ratio | 0.1264 | |||
| Maximum Drawdown | 6.29 | |||
| Value At Risk | (2.09) | |||
| Potential Upside | 2.32 |
United Microelectronics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for United Microelectronics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as United Microelectronics' standard deviation. In reality, there are many statistical measures that can use United Microelectronics historical prices to predict the future United Microelectronics' volatility.| Risk Adjusted Performance | 0.1054 | |||
| Jensen Alpha | 0.202 | |||
| Total Risk Alpha | 0.1294 | |||
| Sortino Ratio | 0.1411 | |||
| Treynor Ratio | 2.15 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of United Microelectronics' 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.
United Microelectronics Backtested Returns
United Microelectronics appears to be very steady, given 3 months investment horizon. United Microelectronics owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.15, which indicates the firm had a 0.15% return per unit of risk over the last 3 months. We have found thirty technical indicators for United Microelectronics, which you can use to evaluate the volatility of the company. Please review United Microelectronics' Risk Adjusted Performance of 0.1054, coefficient of variation of 624.69, and Semi Deviation of 1.05 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, United Microelectronics holds a performance score of 11. The entity has a beta of 0.0955, which indicates not very significant fluctuations relative to the market. As returns on the market increase, United Microelectronics' returns are expected to increase less than the market. However, during the bear market, the loss of holding United Microelectronics is expected to be smaller as well. Please check United Microelectronics' downside deviation, standard deviation, and the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether United Microelectronics' existing price patterns will revert.
Auto-correlation | 0.24 |
Weak predictability
United Microelectronics has weak predictability. Overlapping area represents the amount of predictability between United Microelectronics time series from 4th of March 2024 to 18th of April 2024 and 18th of April 2024 to 2nd of June 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 United Microelectronics price movement. The serial correlation of 0.24 indicates that over 24.0% of current United Microelectronics price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.24 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 5.46 |
United Microelectronics lagged returns against current returns
Autocorrelation, which is United Microelectronics 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 United Microelectronics' stock expected returns. We can calculate the autocorrelation of United Microelectronics returns to help us make a trade decision. For example, suppose you find that United Microelectronics 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 |
United Microelectronics 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 United Microelectronics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if United Microelectronics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in United Microelectronics stock over time.
Current vs Lagged Prices |
| Timeline |
United Microelectronics Lagged Returns
When evaluating United Microelectronics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of United Microelectronics stock have on its future price. United Microelectronics 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, United Microelectronics autocorrelation shows the relationship between United Microelectronics stock current value and its past values and can show if there is a momentum factor associated with investing in United Microelectronics.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether United Microelectronics offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of United Microelectronics' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of United Microelectronics Stock. Outlined below are crucial reports that will aid in making a well-informed decision on United Microelectronics Stock:Check out United Microelectronics Correlation, United Microelectronics Volatility and United Microelectronics Alpha and Beta module to complement your research on United Microelectronics. For more information on how to buy United Stock please use our How to Invest in United Microelectronics guide.You can also try the Transaction History module to view history of all your transactions and understand their impact on performance.
Complementary Tools for United Stock analysis
When running United Microelectronics' price analysis, check to measure United Microelectronics' 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 United Microelectronics is operating at the current time. Most of United Microelectronics' value examination focuses on studying past and present price action to predict the probability of United Microelectronics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move United Microelectronics' price. Additionally, you may evaluate how the addition of United Microelectronics to your portfolios can decrease your overall portfolio volatility.
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United Microelectronics 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.