CTBC Emerging (Taiwan) Market Value
| 00848B Etf | TWD 36.03 0.09 0.25% |
| Symbol | CTBC |
Please note, there is a significant difference between CTBC Emerging's value and its price as these two are different measures arrived at by different means. Investors typically determine if CTBC Emerging is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CTBC Emerging's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
CTBC Emerging '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 CTBC Emerging'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 CTBC Emerging.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in CTBC Emerging on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding CTBC Emerging Asia or generate 0.0% return on investment in CTBC Emerging over 30 days. More
CTBC Emerging 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 CTBC Emerging'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 CTBC Emerging Asia upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.29) | |||
| Maximum Drawdown | 2.33 | |||
| Value At Risk | (0.88) | |||
| Potential Upside | 0.7441 |
CTBC Emerging Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CTBC Emerging's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CTBC Emerging's standard deviation. In reality, there are many statistical measures that can use CTBC Emerging historical prices to predict the future CTBC Emerging's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.10) | |||
| Treynor Ratio | (0.32) |
CTBC Emerging Asia Backtested Returns
CTBC Emerging Asia retains Efficiency (Sharpe Ratio) of -0.0203, which signifies that the etf had a -0.0203% return per unit of risk over the last 3 months. CTBC Emerging exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm CTBC Emerging's variance of 0.244, and Market Risk Adjusted Performance of (0.31) to double-check the risk estimate we provide. The etf owns a Beta (Systematic Risk) of 0.0877, which signifies not very significant fluctuations relative to the market. As returns on the market increase, CTBC Emerging's returns are expected to increase less than the market. However, during the bear market, the loss of holding CTBC Emerging is expected to be smaller as well.
Auto-correlation | 0.72 |
Good predictability
CTBC Emerging Asia has good predictability. Overlapping area represents the amount of predictability between CTBC Emerging time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 CTBC Emerging Asia price movement. The serial correlation of 0.72 indicates that around 72.0% of current CTBC Emerging price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
CTBC Emerging Asia lagged returns against current returns
Autocorrelation, which is CTBC Emerging 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 CTBC Emerging's etf expected returns. We can calculate the autocorrelation of CTBC Emerging returns to help us make a trade decision. For example, suppose you find that CTBC Emerging 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 |
CTBC Emerging 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 CTBC Emerging etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CTBC Emerging etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CTBC Emerging etf over time.
Current vs Lagged Prices |
| Timeline |
CTBC Emerging Lagged Returns
When evaluating CTBC Emerging's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CTBC Emerging etf have on its future price. CTBC Emerging 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, CTBC Emerging autocorrelation shows the relationship between CTBC Emerging etf current value and its past values and can show if there is a momentum factor associated with investing in CTBC Emerging Asia.
Regressed Prices |
| Timeline |
Pair Trading with CTBC Emerging
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 CTBC Emerging 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 CTBC Emerging will appreciate offsetting losses from the drop in the long position's value.Moving together with CTBC Etf
Moving against CTBC Etf
| 0.87 | 00881 | Cathay Taiwan 5G | PairCorr |
| 0.81 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.75 | 006203 | YuantaP shares MSCI | PairCorr |
| 0.74 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.73 | 006208 | Fubon FTSE TWSE | PairCorr |
The ability to find closely correlated positions to CTBC Emerging could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CTBC Emerging 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 CTBC Emerging - 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 CTBC Emerging Asia to buy it.
The correlation of CTBC Emerging 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 CTBC Emerging moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CTBC Emerging Asia 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 CTBC Emerging 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.Other Information on Investing in CTBC Etf
CTBC Emerging financial ratios help investors to determine whether CTBC 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 CTBC with respect to the benefits of owning CTBC Emerging security.