CTBC 20 (Taiwan) Market Value
| 00862B Etf | TWD 32.59 0.31 0.94% |
| Symbol | CTBC |
Please note, there is a significant difference between CTBC 20's value and its price as these two are different measures arrived at by different means. Investors typically determine if CTBC 20 is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CTBC 20's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
CTBC 20 '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 CTBC 20's etf 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 CTBC 20.
| 05/12/2024 |
| 01/07/2025 |
If you would invest 0.00 in CTBC 20 on May 12, 2024 and sell it all today you would earn a total of 0.00 from holding CTBC 20 Year or generate 0.0% return on investment in CTBC 20 over 240 days. CTBC 20 is related to or competes with Yuanta Daily, Yuanta Daily, Fubon FTSE, Fuh Hwa, Paradigm, and Yuanta Daily. More
CTBC 20 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 CTBC 20's etf 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 CTBC 20 Year upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 2.89 | |||
| Value At Risk | (1.19) | |||
| Potential Upside | 0.9136 |
CTBC 20 Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CTBC 20's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CTBC 20's standard deviation. In reality, there are many statistical measures that can use CTBC 20 historical prices to predict the future CTBC 20's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.09) | |||
| Treynor Ratio | (0.88) |
CTBC 20 Year Backtested Returns
CTBC 20 Year retains Efficiency (Sharpe Ratio) of -0.1, which signifies that the etf had a -0.1% return per unit of risk over the last 3 months. CTBC 20 exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm CTBC 20's variance of 0.4694, and Market Risk Adjusted Performance of (0.87) to double-check the risk estimate we provide. The etf owns a Beta (Systematic Risk) of 0.0876, which signifies not very significant fluctuations relative to the market. As returns on the market increase, CTBC 20's returns are expected to increase less than the market. However, during the bear market, the loss of holding CTBC 20 is expected to be smaller as well.
Auto-correlation | -0.35 |
Poor reverse predictability
CTBC 20 Year has poor reverse predictability. Overlapping area represents the amount of predictability between CTBC 20 time series from 12th of May 2024 to 9th of September 2024 and 9th of September 2024 to 7th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of CTBC 20 Year price movement. The serial correlation of -0.35 indicates that nearly 35.0% of current CTBC 20 price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.35 | |
| Spearman Rank Test | -0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.49 |
CTBC 20 Year lagged returns against current returns
Autocorrelation, which is CTBC 20 etf'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 CTBC 20's etf expected returns. We can calculate the autocorrelation of CTBC 20 returns to help us make a trade decision. For example, suppose you find that CTBC 20 has exhibited high autocorrelation historically, and you observe that the etf 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 |
CTBC 20 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 CTBC 20 etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CTBC 20 etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CTBC 20 etf over time.
Current vs Lagged Prices |
| Timeline |
CTBC 20 Lagged Returns
When evaluating CTBC 20's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CTBC 20 etf have on its future price. CTBC 20 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, CTBC 20 autocorrelation shows the relationship between CTBC 20 etf current value and its past values and can show if there is a momentum factor associated with investing in CTBC 20 Year.
Regressed Prices |
| Timeline |
Pair Trading with CTBC 20
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 CTBC 20 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 CTBC 20 will appreciate offsetting losses from the drop in the long position's value.Moving against CTBC Etf
| 0.43 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.4 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.37 | 0057 | Fubon MSCI Taiwan | PairCorr |
The ability to find closely correlated positions to CTBC 20 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CTBC 20 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 CTBC 20 - 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 CTBC 20 Year to buy it.
The correlation of CTBC 20 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 CTBC 20 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CTBC 20 Year 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 CTBC 20 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.Other Information on Investing in CTBC Etf
CTBC 20 financial ratios help investors to determine whether CTBC Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in CTBC with respect to the benefits of owning CTBC 20 security.