Chi Sheng (Taiwan) Market Value
| 4111 Stock | TWD 27.30 0.30 1.09% |
| Symbol | Chi |
Chi Sheng '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 Chi Sheng'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 Chi Sheng.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Chi Sheng on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Chi Sheng Chemical or generate 0.0% return on investment in Chi Sheng over 30 days. Chi Sheng is related to or competes with WiseChip Semiconductor, Novatek Microelectronics, Leader Electronics, Information Technology, Kinko Optical, Giant Manufacturing, and Cathay Financial. More
Chi Sheng 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 Chi Sheng'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 Chi Sheng Chemical upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7475 | |||
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 3.36 | |||
| Value At Risk | (0.76) | |||
| Potential Upside | 0.9653 |
Chi Sheng Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chi Sheng's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chi Sheng's standard deviation. In reality, there are many statistical measures that can use Chi Sheng historical prices to predict the future Chi Sheng's volatility.| Risk Adjusted Performance | 0.0697 | |||
| Jensen Alpha | 0.0689 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | (0.31) |
Chi Sheng Chemical Backtested Returns
At this stage we consider Chi Stock to be very steady. Chi Sheng Chemical secures Sharpe Ratio (or Efficiency) of 0.12, which signifies that the company had a 0.12% return per unit of risk over the last 3 months. We have found thirty technical indicators for Chi Sheng Chemical, which you can use to evaluate the volatility of the firm. Please confirm Chi Sheng's Mean Deviation of 0.4543, risk adjusted performance of 0.0697, and Downside Deviation of 0.7475 to double-check if the risk estimate we provide is consistent with the expected return of 0.07%. Chi Sheng has a performance score of 9 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.17, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Chi Sheng are expected to decrease at a much lower rate. During the bear market, Chi Sheng is likely to outperform the market. Chi Sheng Chemical right now shows a risk of 0.58%. Please confirm Chi Sheng Chemical downside deviation, standard deviation, and the relationship between the semi deviation and coefficient of variation , to decide if Chi Sheng Chemical will be following its price patterns.
Auto-correlation | 0.35 |
Below average predictability
Chi Sheng Chemical has below average predictability. Overlapping area represents the amount of predictability between Chi Sheng time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th 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 Chi Sheng Chemical price movement. The serial correlation of 0.35 indicates that nearly 35.0% of current Chi Sheng price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.35 | |
| Spearman Rank Test | 0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Chi Sheng Chemical lagged returns against current returns
Autocorrelation, which is Chi Sheng 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 Chi Sheng's stock expected returns. We can calculate the autocorrelation of Chi Sheng returns to help us make a trade decision. For example, suppose you find that Chi Sheng 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 |
Chi Sheng 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 Chi Sheng stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chi Sheng stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chi Sheng stock over time.
Current vs Lagged Prices |
| Timeline |
Chi Sheng Lagged Returns
When evaluating Chi Sheng's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chi Sheng stock have on its future price. Chi Sheng 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, Chi Sheng autocorrelation shows the relationship between Chi Sheng stock current value and its past values and can show if there is a momentum factor associated with investing in Chi Sheng Chemical.
Regressed Prices |
| Timeline |
Pair Trading with Chi Sheng
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 Chi Sheng 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 Chi Sheng will appreciate offsetting losses from the drop in the long position's value.Moving against Chi Stock
| 0.68 | 6612 | Icares Medicus | PairCorr |
| 0.58 | 0051 | YuantaP shares Taiwan | PairCorr |
| 0.52 | 1786 | SciVision Biotech | PairCorr |
| 0.51 | 6539 | DV Biomed | PairCorr |
| 0.47 | 6499 | Medeon Biodesign | PairCorr |
The ability to find closely correlated positions to Chi Sheng could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chi Sheng 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 Chi Sheng - 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 Chi Sheng Chemical to buy it.
The correlation of Chi Sheng 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 Chi Sheng moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chi Sheng Chemical 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 Chi Sheng 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 Chi Stock Analysis
When running Chi Sheng's price analysis, check to measure Chi Sheng'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 Chi Sheng is operating at the current time. Most of Chi Sheng's value examination focuses on studying past and present price action to predict the probability of Chi Sheng's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chi Sheng's price. Additionally, you may evaluate how the addition of Chi Sheng to your portfolios can decrease your overall portfolio volatility.