Cathay SP (Taiwan) Market Value
| 00770 Etf | TWD 50.55 0.30 0.60% |
| Symbol | Cathay |
Cathay SP '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 Cathay SP's etf 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 Cathay SP.
| 12/07/2022 |
| 11/26/2024 |
If you would invest 0.00 in Cathay SP on December 7, 2022 and sell it all today you would earn a total of 0.00 from holding Cathay SP North or generate 0.0% return on investment in Cathay SP over 720 days. Cathay SP is related to or competes with Yuanta Daily, and Paradigm. CATHAY SECS is traded on Taiwan Stock Exchange in Taiwan. More
Cathay SP 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 Cathay SP's etf 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 Cathay SP North upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.42 | |||
| Information Ratio | 0.003 | |||
| Maximum Drawdown | 7.03 | |||
| Value At Risk | (1.25) | |||
| Potential Upside | 1.51 |
Cathay SP Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cathay SP's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cathay SP's standard deviation. In reality, there are many statistical measures that can use Cathay SP historical prices to predict the future Cathay SP's volatility.| Risk Adjusted Performance | 0.0907 | |||
| Jensen Alpha | 0.0793 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | 0.0025 | |||
| Treynor Ratio | 0.3333 |
Cathay SP North Backtested Returns
Currently, Cathay SP North is very steady. Cathay SP North secures Sharpe Ratio (or Efficiency) of 0.13, which signifies that the etf had a 0.13% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Cathay SP North, which you can use to evaluate the volatility of the entity. Please confirm Cathay SP's Downside Deviation of 1.42, risk adjusted performance of 0.0907, and Mean Deviation of 0.7981 to double-check if the risk estimate we provide is consistent with the expected return of 0.16%. The etf shows a Beta (market volatility) of 0.37, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Cathay SP's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cathay SP is expected to be smaller as well.
Auto-correlation | 0.90 |
Excellent predictability
Cathay SP North has excellent predictability. Overlapping area represents the amount of predictability between Cathay SP time series from 7th of December 2022 to 2nd of December 2023 and 2nd of December 2023 to 26th of November 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 Cathay SP North price movement. The serial correlation of 0.9 indicates that approximately 90.0% of current Cathay SP price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.9 | |
| Spearman Rank Test | 0.86 | |
| Residual Average | 0.0 | |
| Price Variance | 13.83 |
Cathay SP North lagged returns against current returns
Autocorrelation, which is Cathay SP etf'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 Cathay SP's etf expected returns. We can calculate the autocorrelation of Cathay SP returns to help us make a trade decision. For example, suppose you find that Cathay SP has exhibited high autocorrelation historically, and you observe that the etf 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 |
Cathay SP 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 Cathay SP etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cathay SP etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cathay SP etf over time.
Current vs Lagged Prices |
| Timeline |
Cathay SP Lagged Returns
When evaluating Cathay SP's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cathay SP etf have on its future price. Cathay SP 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, Cathay SP autocorrelation shows the relationship between Cathay SP etf current value and its past values and can show if there is a momentum factor associated with investing in Cathay SP North.
Regressed Prices |
| Timeline |
Also Currently Popular
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.Other Information on Investing in Cathay Etf
Cathay SP financial ratios help investors to determine whether Cathay Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Cathay with respect to the benefits of owning Cathay SP security.