Concord Securities (Taiwan) Market Value
| 6016 Stock | TWD 13.45 0.05 0.37% |
| Symbol | Concord |
Concord Securities '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 Concord Securities' 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 Concord Securities.
| 11/17/2024 |
| 12/17/2024 |
If you would invest 0.00 in Concord Securities on November 17, 2024 and sell it all today you would earn a total of 0.00 from holding Concord Securities Co or generate 0.0% return on investment in Concord Securities over 30 days. Concord Securities is related to or competes with IBF Financial, Capital Securities, President Securities, China Bills, Yuanta Futures, Capital Futures, and Concord Securities. ,Ltd., through its subsidiaries, provides brokerage and wealth management services in Taiwan More
Concord Securities 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 Concord Securities' 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 Concord Securities Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 4.72 | |||
| Value At Risk | (1.09) | |||
| Potential Upside | 1.43 |
Concord Securities Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Concord Securities' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Concord Securities' standard deviation. In reality, there are many statistical measures that can use Concord Securities historical prices to predict the future Concord Securities' volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.1) | |||
| Treynor Ratio | (0.14) |
Concord Securities Backtested Returns
Concord Securities secures Sharpe Ratio (or Efficiency) of -0.11, which signifies that the company had a -0.11% return per unit of risk over the last 3 months. Concord Securities Co exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Concord Securities' Standard Deviation of 0.7684, risk adjusted performance of (0.01), and Mean Deviation of 0.5362 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.13, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Concord Securities' returns are expected to increase less than the market. However, during the bear market, the loss of holding Concord Securities is expected to be smaller as well. At this point, Concord Securities has a negative expected return of -0.0716%. Please make sure to confirm Concord Securities' standard deviation, information ratio, total risk alpha, as well as the relationship between the variance and jensen alpha , to decide if Concord Securities performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.71 |
Good predictability
Concord Securities Co has good predictability. Overlapping area represents the amount of predictability between Concord Securities time series from 17th of November 2024 to 2nd of December 2024 and 2nd of December 2024 to 17th 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 Concord Securities price movement. The serial correlation of 0.71 indicates that around 71.0% of current Concord Securities price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.71 | |
| Spearman Rank Test | 0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Concord Securities lagged returns against current returns
Autocorrelation, which is Concord Securities 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 Concord Securities' stock expected returns. We can calculate the autocorrelation of Concord Securities returns to help us make a trade decision. For example, suppose you find that Concord Securities 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 |
Concord Securities 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 Concord Securities stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Concord Securities stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Concord Securities stock over time.
Current vs Lagged Prices |
| Timeline |
Concord Securities Lagged Returns
When evaluating Concord Securities' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Concord Securities stock have on its future price. Concord Securities 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, Concord Securities autocorrelation shows the relationship between Concord Securities stock current value and its past values and can show if there is a momentum factor associated with investing in Concord Securities Co.
Regressed Prices |
| Timeline |
Pair Trading with Concord Securities
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 Concord Securities 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 Concord Securities will appreciate offsetting losses from the drop in the long position's value.Moving against Concord Stock
| 0.61 | 2891B | CTBC Financial Holding | PairCorr |
| 0.57 | 2882B | Cathay Financial Holding | PairCorr |
| 0.57 | 2881A | Fubon Financial Holding | PairCorr |
| 0.48 | 2891 | CTBC Financial Holding | PairCorr |
| 0.42 | 6005 | Capital Securities Corp | PairCorr |
The ability to find closely correlated positions to Concord Securities could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Concord Securities 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 Concord Securities - 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 Concord Securities Co to buy it.
The correlation of Concord Securities 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 Concord Securities moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Concord Securities 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 Concord Securities 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 Concord Stock Analysis
When running Concord Securities' price analysis, check to measure Concord Securities' 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 Concord Securities is operating at the current time. Most of Concord Securities' value examination focuses on studying past and present price action to predict the probability of Concord Securities' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Concord Securities' price. Additionally, you may evaluate how the addition of Concord Securities to your portfolios can decrease your overall portfolio volatility.