Chi Hua (Taiwan) Market Value
| 1593 Stock | TWD 37.25 0.25 0.67% |
| Symbol | Chi |
Chi Hua '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 Chi Hua'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 Chi Hua.
| 05/31/2024 |
| 11/27/2024 |
If you would invest 0.00 in Chi Hua on May 31, 2024 and sell it all today you would earn a total of 0.00 from holding Chi Hua Fitness or generate 0.0% return on investment in Chi Hua over 180 days. Chi Hua is related to or competes with Feng Tay, Ruentex Materials, Symtek Automation, CTCI Corp, Information Technology, Kinko Optical, and Chong Hong. More
Chi Hua 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 Chi Hua'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 Chi Hua Fitness upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 11.25 | |||
| Value At Risk | (2.06) | |||
| Potential Upside | 1.61 |
Chi Hua Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chi Hua's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chi Hua's standard deviation. In reality, there are many statistical measures that can use Chi Hua historical prices to predict the future Chi Hua's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.40) | |||
| Treynor Ratio | (0.69) |
Chi Hua Fitness Backtested Returns
Chi Hua Fitness 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. Chi Hua Fitness exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Chi Hua's Standard Deviation of 1.45, mean deviation of 0.8502, and Risk Adjusted Performance of (0.08) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.25, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Chi Hua's returns are expected to increase less than the market. However, during the bear market, the loss of holding Chi Hua is expected to be smaller as well. At this point, Chi Hua Fitness has a negative expected return of -0.15%. Please make sure to confirm Chi Hua's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Chi Hua Fitness performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.46 |
Modest reverse predictability
Chi Hua Fitness has modest reverse predictability. Overlapping area represents the amount of predictability between Chi Hua time series from 31st of May 2024 to 29th of August 2024 and 29th of August 2024 to 27th 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 Chi Hua Fitness price movement. The serial correlation of -0.46 indicates that about 46.0% of current Chi Hua price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.46 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 4.31 |
Chi Hua Fitness lagged returns against current returns
Autocorrelation, which is Chi Hua 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 Chi Hua's stock expected returns. We can calculate the autocorrelation of Chi Hua returns to help us make a trade decision. For example, suppose you find that Chi Hua 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 |
Chi Hua 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 Chi Hua stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chi Hua stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chi Hua stock over time.
Current vs Lagged Prices |
| Timeline |
Chi Hua Lagged Returns
When evaluating Chi Hua's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chi Hua stock have on its future price. Chi Hua 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, Chi Hua autocorrelation shows the relationship between Chi Hua stock current value and its past values and can show if there is a momentum factor associated with investing in Chi Hua Fitness.
Regressed Prices |
| Timeline |
Pair Trading with Chi Hua
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 Chi Hua 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 Chi Hua will appreciate offsetting losses from the drop in the long position's value.Moving together with Chi Stock
| 0.81 | 9921 | Giant Manufacturing | PairCorr |
| 0.83 | 9914 | Merida Industry | PairCorr |
| 0.74 | 8478 | Alexander Marine | PairCorr |
Moving against Chi Stock
| 0.74 | 6768 | Sports Gear | PairCorr |
| 0.71 | 8047 | Great Computer | PairCorr |
| 0.58 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.57 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.53 | 0053 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Chi Hua could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chi Hua 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 Chi Hua - 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 Chi Hua Fitness to buy it.
The correlation of Chi Hua 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 Chi Hua moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chi Hua Fitness 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 Chi Hua 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 Chi Stock Analysis
When running Chi Hua's price analysis, check to measure Chi Hua'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 Chi Hua is operating at the current time. Most of Chi Hua's value examination focuses on studying past and present price action to predict the probability of Chi Hua's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chi Hua's price. Additionally, you may evaluate how the addition of Chi Hua to your portfolios can decrease your overall portfolio volatility.