Coretronic (Taiwan) Market Value

5371 Stock  TWD 75.60  1.60  2.07%   
Coretronic's market value is the price at which a share of Coretronic trades on a public exchange. It measures the collective expectations of Coretronic investors about its performance. Coretronic is selling for under 75.60 as of the 15th of December 2024; that is 2.07 percent decrease since the beginning of the trading day. The stock's lowest day price was 75.3.
With this module, you can estimate the performance of a buy and hold strategy of Coretronic and determine expected loss or profit from investing in Coretronic over a given investment horizon. Check out Coretronic Correlation, Coretronic Volatility and Coretronic Alpha and Beta module to complement your research on Coretronic.
Symbol

Please note, there is a significant difference between Coretronic's value and its price as these two are different measures arrived at by different means. Investors typically determine if Coretronic is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Coretronic'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.

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.
0.00
11/15/2024
No Change 0.00  0.0 
In 30 days
12/15/2024
0.00
If you would invest  0.00  in Coretronic on November 15, 2024 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 30 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.

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.
Hype
Prediction
LowEstimatedHigh
73.0475.6078.16
Details
Intrinsic
Valuation
LowRealHigh
72.9775.5378.09
Details
Naive
Forecast
LowNextHigh
68.1870.7573.31
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
63.3373.1482.96
Details

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 twenty-nine technical indicators for Coretronic, which you can use to evaluate the volatility of the firm. Please confirm Coretronic's Risk Adjusted Performance of 0.03, mean deviation of 1.69, and Downside Deviation of 2.21 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 jensen alpha, sortino ratio, and the relationship between the standard deviation and total risk alpha , to decide if Coretronic will be following its price patterns.

Auto-correlation

    
  -0.59  

Good reverse predictability

Coretronic has good reverse predictability. Overlapping area represents the amount of predictability between Coretronic time series from 15th of November 2024 to 30th of November 2024 and 30th of November 2024 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 -0.59 indicates that roughly 59.0% of current Coretronic price fluctuation can be explain by its past prices.
Correlation Coefficient-0.59
Spearman Rank Test-0.64
Residual Average0.0
Price Variance7.52

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

  0.472317 Hon Hai PrecisionPairCorr
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.
Pair CorrelationCorrelation Matching

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.