Chunghwa Precision (Taiwan) Market Value
| 6510 Stock | TWD 875.00 5.00 0.57% |
| Symbol | Chunghwa |
Chunghwa Precision '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 Chunghwa Precision'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 Chunghwa Precision.
| 12/19/2023 |
| 12/13/2024 |
If you would invest 0.00 in Chunghwa Precision on December 19, 2023 and sell it all today you would earn a total of 0.00 from holding Chunghwa Precision Test or generate 0.0% return on investment in Chunghwa Precision over 360 days. Chunghwa Precision is related to or competes with U Media, PChome Online, Hannstar Display, Cayenne Entertainment, Eastern Media, Shan Loong, and Sesoda Corp. More
Chunghwa Precision 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 Chunghwa Precision'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 Chunghwa Precision Test upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.76 | |||
| Information Ratio | 0.248 | |||
| Maximum Drawdown | 16.9 | |||
| Value At Risk | (3.30) | |||
| Potential Upside | 8.04 |
Chunghwa Precision Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chunghwa Precision's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chunghwa Precision's standard deviation. In reality, there are many statistical measures that can use Chunghwa Precision historical prices to predict the future Chunghwa Precision's volatility.| Risk Adjusted Performance | 0.2127 | |||
| Jensen Alpha | 0.8037 | |||
| Total Risk Alpha | 0.4558 | |||
| Sortino Ratio | 0.2947 | |||
| Treynor Ratio | 0.8332 |
Chunghwa Precision Test Backtested Returns
Chunghwa Precision appears to be very steady, given 3 months investment horizon. Chunghwa Precision Test secures Sharpe Ratio (or Efficiency) of 0.28, which signifies that the company had a 0.28% return per unit of risk over the last 3 months. By analyzing Chunghwa Precision's technical indicators, you can evaluate if the expected return of 0.94% is justified by implied risk. Please makes use of Chunghwa Precision's Mean Deviation of 2.38, downside deviation of 2.76, and Risk Adjusted Performance of 0.2127 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Chunghwa Precision holds a performance score of 22. The firm shows a Beta (market volatility) of 1.1, which signifies a somewhat significant risk relative to the market. Chunghwa Precision returns are very sensitive to returns on the market. As the market goes up or down, Chunghwa Precision is expected to follow. Please check Chunghwa Precision's jensen alpha, sortino ratio, maximum drawdown, as well as the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether Chunghwa Precision's price patterns will revert.
Auto-correlation | -0.77 |
Almost perfect reverse predictability
Chunghwa Precision Test has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Chunghwa Precision time series from 19th of December 2023 to 16th of June 2024 and 16th of June 2024 to 13th 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 Chunghwa Precision Test price movement. The serial correlation of -0.77 indicates that around 77.0% of current Chunghwa Precision price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.77 | |
| Spearman Rank Test | -0.82 | |
| Residual Average | 0.0 | |
| Price Variance | 7978.31 |
Chunghwa Precision Test lagged returns against current returns
Autocorrelation, which is Chunghwa Precision 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 Chunghwa Precision's stock expected returns. We can calculate the autocorrelation of Chunghwa Precision returns to help us make a trade decision. For example, suppose you find that Chunghwa Precision 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 |
Chunghwa Precision 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 Chunghwa Precision stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chunghwa Precision stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chunghwa Precision stock over time.
Current vs Lagged Prices |
| Timeline |
Chunghwa Precision Lagged Returns
When evaluating Chunghwa Precision's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chunghwa Precision stock have on its future price. Chunghwa Precision 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, Chunghwa Precision autocorrelation shows the relationship between Chunghwa Precision stock current value and its past values and can show if there is a momentum factor associated with investing in Chunghwa Precision Test.
Regressed Prices |
| Timeline |
Pair Trading with Chunghwa Precision
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 Chunghwa Precision 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 Chunghwa Precision will appreciate offsetting losses from the drop in the long position's value.Moving against Chunghwa Stock
| 0.81 | 4938 | Pegatron Corp | PairCorr |
| 0.79 | 2327 | Yageo Corp | PairCorr |
| 0.79 | 6291 | Analog Integrations | PairCorr |
| 0.72 | 8069 | E Ink Holdings | PairCorr |
| 0.72 | 2409 | AU Optronics | PairCorr |
The ability to find closely correlated positions to Chunghwa Precision could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chunghwa Precision 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 Chunghwa Precision - 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 Chunghwa Precision Test to buy it.
The correlation of Chunghwa Precision 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 Chunghwa Precision moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chunghwa Precision Test 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 Chunghwa Precision 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 Chunghwa Stock Analysis
When running Chunghwa Precision's price analysis, check to measure Chunghwa Precision'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 Chunghwa Precision is operating at the current time. Most of Chunghwa Precision's value examination focuses on studying past and present price action to predict the probability of Chunghwa Precision's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chunghwa Precision's price. Additionally, you may evaluate how the addition of Chunghwa Precision to your portfolios can decrease your overall portfolio volatility.