Coretronic (Taiwan) Market Value
| 5371 Stock | TWD 75.60 1.60 2.07% |
| Symbol | Coretronic |
Coretronic '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 Coretronic'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 Coretronic.
| 12/26/2022 |
| 12/15/2024 |
If you would invest 0.00 in Coretronic on December 26, 2022 and sell it all today you would earn a total of 0.00 from holding Coretronic or generate 0.0% return on investment in Coretronic over 720 days. Coretronic is related to or competes with Chicony Power, Ruentex Development, Symtek Automation, WiseChip Semiconductor, Novatek Microelectronics, and Leader Electronics. Coretronic Corporation engages in the research, development, production, manufacturing, and marketing of projectors, bac... More
Coretronic 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 Coretronic'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 Coretronic upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.21 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 13.51 | |||
| Value At Risk | (3.38) | |||
| Potential Upside | 4.48 |
Coretronic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Coretronic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Coretronic's standard deviation. In reality, there are many statistical measures that can use Coretronic historical prices to predict the future Coretronic's volatility.| Risk Adjusted Performance | 0.03 | |||
| Jensen Alpha | 0.0109 | |||
| Total Risk Alpha | (0.25) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.1067 |
Coretronic Backtested Returns
At this stage we consider Coretronic Stock to be very steady. Coretronic secures Sharpe Ratio (or Efficiency) of 0.0108, which signifies that the company had a 0.0108% return per unit of risk over the last 3 months. We have found thirty technical indicators for Coretronic, which you can use to evaluate the volatility of the firm. Please confirm Coretronic's Mean Deviation of 1.69, downside deviation of 2.21, and Risk Adjusted Performance of 0.03 to double-check if the risk estimate we provide is consistent with the expected return of 0.0277%. The firm shows a Beta (market volatility) of 0.66, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Coretronic's returns are expected to increase less than the market. However, during the bear market, the loss of holding Coretronic is expected to be smaller as well. Coretronic right now shows a risk of 2.56%. Please confirm Coretronic coefficient of variation, jensen alpha, sortino ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Coretronic will be following its price patterns.
Auto-correlation | 0.27 |
Poor predictability
Coretronic has poor predictability. Overlapping area represents the amount of predictability between Coretronic time series from 26th of December 2022 to 21st of December 2023 and 21st of December 2023 to 15th 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 Coretronic price movement. The serial correlation of 0.27 indicates that nearly 27.0% of current Coretronic price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.27 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 119.96 |
Coretronic lagged returns against current returns
Autocorrelation, which is Coretronic 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 Coretronic's stock expected returns. We can calculate the autocorrelation of Coretronic returns to help us make a trade decision. For example, suppose you find that Coretronic 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 |
Coretronic 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 Coretronic stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Coretronic stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Coretronic stock over time.
Current vs Lagged Prices |
| Timeline |
Coretronic Lagged Returns
When evaluating Coretronic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Coretronic stock have on its future price. Coretronic 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, Coretronic autocorrelation shows the relationship between Coretronic stock current value and its past values and can show if there is a momentum factor associated with investing in Coretronic.
Regressed Prices |
| Timeline |
Pair Trading with Coretronic
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 Coretronic 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 Coretronic will appreciate offsetting losses from the drop in the long position's value.Moving against Coretronic Stock
The ability to find closely correlated positions to Coretronic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Coretronic 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 Coretronic - 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 Coretronic to buy it.
The correlation of Coretronic 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 Coretronic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Coretronic 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 Coretronic 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 Coretronic Stock Analysis
When running Coretronic's price analysis, check to measure Coretronic'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 Coretronic is operating at the current time. Most of Coretronic's value examination focuses on studying past and present price action to predict the probability of Coretronic's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Coretronic's price. Additionally, you may evaluate how the addition of Coretronic to your portfolios can decrease your overall portfolio volatility.