C Media (Taiwan) Market Value
| 6237 Stock | TWD 50.30 0.60 1.18% |
| Symbol | 6237 |
C Media '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 C Media'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 C Media.
| 12/18/2023 |
| 12/12/2024 |
If you would invest 0.00 in C Media on December 18, 2023 and sell it all today you would earn a total of 0.00 from holding C Media Electronics or generate 0.0% return on investment in C Media over 360 days. C Media is related to or competes with WIN Semiconductors, GlobalWafers, Novatek Microelectronics, Ruentex Development, WiseChip Semiconductor, Leader Electronics, and Information Technology. More
C Media 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 C Media'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 C Media Electronics upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.26 | |||
| Information Ratio | 0.0574 | |||
| Maximum Drawdown | 15.66 | |||
| Value At Risk | (3.32) | |||
| Potential Upside | 3.44 |
C Media Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for C Media's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as C Media's standard deviation. In reality, there are many statistical measures that can use C Media historical prices to predict the future C Media's volatility.| Risk Adjusted Performance | 0.0851 | |||
| Jensen Alpha | 0.2301 | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | 0.0622 | |||
| Treynor Ratio | 1.16 |
C Media Electronics Backtested Returns
C Media appears to be very steady, given 3 months investment horizon. C Media Electronics secures Sharpe Ratio (or Efficiency) of 0.1, which signifies that the company had a 0.1% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for C Media Electronics, which you can use to evaluate the volatility of the entity. Please makes use of C Media's Mean Deviation of 1.77, coefficient of variation of 924.99, and Semi Deviation of 1.88 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, C Media holds a performance score of 8. The firm shows a Beta (market volatility) of 0.22, which signifies not very significant fluctuations relative to the market. As returns on the market increase, C Media's returns are expected to increase less than the market. However, during the bear market, the loss of holding C Media is expected to be smaller as well. Please check C Media's downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether C Media's price patterns will revert.
Auto-correlation | -0.53 |
Good reverse predictability
C Media Electronics has good reverse predictability. Overlapping area represents the amount of predictability between C Media time series from 18th of December 2023 to 15th of June 2024 and 15th of June 2024 to 12th 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 C Media Electronics price movement. The serial correlation of -0.53 indicates that about 53.0% of current C Media price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.53 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 14.49 |
C Media Electronics lagged returns against current returns
Autocorrelation, which is C Media 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 C Media's stock expected returns. We can calculate the autocorrelation of C Media returns to help us make a trade decision. For example, suppose you find that C Media 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 |
C Media 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 C Media stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if C Media stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in C Media stock over time.
Current vs Lagged Prices |
| Timeline |
C Media Lagged Returns
When evaluating C Media's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of C Media stock have on its future price. C Media 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, C Media autocorrelation shows the relationship between C Media stock current value and its past values and can show if there is a momentum factor associated with investing in C Media Electronics.
Regressed Prices |
| Timeline |
Pair Trading with C Media
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 C Media 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 C Media will appreciate offsetting losses from the drop in the long position's value.Moving together with 6237 Stock
The ability to find closely correlated positions to C Media could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace C Media 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 C Media - 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 C Media Electronics to buy it.
The correlation of C Media 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 C Media moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if C Media Electronics 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 C Media 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 6237 Stock Analysis
When running C Media's price analysis, check to measure C Media'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 C Media is operating at the current time. Most of C Media's value examination focuses on studying past and present price action to predict the probability of C Media's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move C Media's price. Additionally, you may evaluate how the addition of C Media to your portfolios can decrease your overall portfolio volatility.