Chong Hong (Taiwan) Market Value
| 5534 Stock | TWD 88.00 0.10 0.11% |
| Symbol | Chong |
Chong Hong '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 Chong Hong'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 Chong Hong.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Chong Hong on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Chong Hong Construction or generate 0.0% return on investment in Chong Hong over 30 days. Chong Hong is related to or competes with Huaku Development, Ruentex Development, Taiwan Cement, Symtek Automation, CTCI Corp, Information Technology, and Kinko Optical. Chong Hong Construction Co., Ltd. engages in the construction of houses More
Chong Hong 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 Chong Hong'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 Chong Hong Construction upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 12.0 | |||
| Value At Risk | (3.56) | |||
| Potential Upside | 3.68 |
Chong Hong Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chong Hong's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chong Hong's standard deviation. In reality, there are many statistical measures that can use Chong Hong historical prices to predict the future Chong Hong's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.39) | |||
| Total Risk Alpha | (0.69) | |||
| Treynor Ratio | 8.0 |
Chong Hong Construction Backtested Returns
Chong Hong Construction secures Sharpe Ratio (or Efficiency) of -0.15, which signifies that the company had a -0.15% return per unit of risk over the last 3 months. Chong Hong Construction exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Chong Hong's Standard Deviation of 2.23, risk adjusted performance of (0.12), and Mean Deviation of 1.63 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0489, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Chong Hong are expected to decrease at a much lower rate. During the bear market, Chong Hong is likely to outperform the market. At this point, Chong Hong Construction has a negative expected return of -0.35%. Please make sure to confirm Chong Hong's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Chong Hong Construction performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.08 |
Very weak reverse predictability
Chong Hong Construction has very weak reverse predictability. Overlapping area represents the amount of predictability between Chong Hong 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 Chong Hong Construction price movement. The serial correlation of -0.08 indicates that barely 8.0% of current Chong Hong price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.08 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 4.39 |
Chong Hong Construction lagged returns against current returns
Autocorrelation, which is Chong Hong 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 Chong Hong's stock expected returns. We can calculate the autocorrelation of Chong Hong returns to help us make a trade decision. For example, suppose you find that Chong Hong 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 |
Chong Hong 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 Chong Hong stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chong Hong stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chong Hong stock over time.
Current vs Lagged Prices |
| Timeline |
Chong Hong Lagged Returns
When evaluating Chong Hong's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chong Hong stock have on its future price. Chong Hong 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, Chong Hong autocorrelation shows the relationship between Chong Hong stock current value and its past values and can show if there is a momentum factor associated with investing in Chong Hong Construction.
Regressed Prices |
| Timeline |
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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.Additional Tools for Chong Stock Analysis
When running Chong Hong's price analysis, check to measure Chong Hong'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 Chong Hong is operating at the current time. Most of Chong Hong's value examination focuses on studying past and present price action to predict the probability of Chong Hong's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chong Hong's price. Additionally, you may evaluate how the addition of Chong Hong to your portfolios can decrease your overall portfolio volatility.