Chung Lien (Taiwan) Market Value
| 5604 Stock | TWD 42.00 0.10 0.24% |
| Symbol | Chung |
Chung Lien '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 Chung Lien'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 Chung Lien.
| 11/18/2024 |
| 12/18/2024 |
If you would invest 0.00 in Chung Lien on November 18, 2024 and sell it all today you would earn a total of 0.00 from holding Chung Lien Transportation or generate 0.0% return on investment in Chung Lien over 30 days. Chung Lien is related to or competes with MediaTek, International CSRC, Weltrend Semiconductor, Elite Semiconductor, Tradetool Auto, and Trade Van. Chung Lien Transportation Co., Ltd operates as a freight trucking company in Taiwan More
Chung Lien 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 Chung Lien'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 Chung Lien Transportation upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 2.59 | |||
| Value At Risk | (0.93) | |||
| Potential Upside | 0.7134 |
Chung Lien Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chung Lien's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chung Lien's standard deviation. In reality, there are many statistical measures that can use Chung Lien historical prices to predict the future Chung Lien's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.09) | |||
| Treynor Ratio | (2.97) |
Chung Lien Transportation Backtested Returns
Chung Lien Transportation secures Sharpe Ratio (or Efficiency) of -0.0684, which signifies that the company had a -0.0684% return per unit of risk over the last 3 months. Chung Lien Transportation exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Chung Lien's Risk Adjusted Performance of (0.05), mean deviation of 0.365, and Standard Deviation of 0.52 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.0149, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Chung Lien's returns are expected to increase less than the market. However, during the bear market, the loss of holding Chung Lien is expected to be smaller as well. At this point, Chung Lien Transportation has a negative expected return of -0.036%. Please make sure to confirm Chung Lien's total risk alpha, maximum drawdown, skewness, as well as the relationship between the treynor ratio and potential upside , to decide if Chung Lien Transportation performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.63 |
Very good reverse predictability
Chung Lien Transportation has very good reverse predictability. Overlapping area represents the amount of predictability between Chung Lien time series from 18th of November 2024 to 3rd of December 2024 and 3rd of December 2024 to 18th 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 Chung Lien Transportation price movement. The serial correlation of -0.63 indicates that roughly 63.0% of current Chung Lien price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.63 | |
| Spearman Rank Test | -0.59 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Chung Lien Transportation lagged returns against current returns
Autocorrelation, which is Chung Lien 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 Chung Lien's stock expected returns. We can calculate the autocorrelation of Chung Lien returns to help us make a trade decision. For example, suppose you find that Chung Lien 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 |
Chung Lien 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 Chung Lien stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chung Lien stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chung Lien stock over time.
Current vs Lagged Prices |
| Timeline |
Chung Lien Lagged Returns
When evaluating Chung Lien's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chung Lien stock have on its future price. Chung Lien 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, Chung Lien autocorrelation shows the relationship between Chung Lien stock current value and its past values and can show if there is a momentum factor associated with investing in Chung Lien Transportation.
Regressed Prices |
| Timeline |
Pair Trading with Chung Lien
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 Chung Lien 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 Chung Lien will appreciate offsetting losses from the drop in the long position's value.Moving against Chung Stock
| 0.75 | 2882B | Cathay Financial Holding | PairCorr |
| 0.7 | 2882A | Cathay Financial Holding | PairCorr |
| 0.68 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.68 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.63 | 2881A | Fubon Financial Holding | PairCorr |
The ability to find closely correlated positions to Chung Lien could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chung Lien 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 Chung Lien - 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 Chung Lien Transportation to buy it.
The correlation of Chung Lien 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 Chung Lien moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chung Lien Transportation 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 Chung Lien 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 Chung Stock Analysis
When running Chung Lien's price analysis, check to measure Chung Lien'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 Chung Lien is operating at the current time. Most of Chung Lien's value examination focuses on studying past and present price action to predict the probability of Chung Lien's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chung Lien's price. Additionally, you may evaluate how the addition of Chung Lien to your portfolios can decrease your overall portfolio volatility.