Cathay Chemical (Taiwan) Market Value
| 1713 Stock | TWD 47.95 0.35 0.74% |
| Symbol | Cathay |
Cathay Chemical '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 Chemical'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 Cathay Chemical.
| 05/28/2024 |
| 11/24/2024 |
If you would invest 0.00 in Cathay Chemical on May 28, 2024 and sell it all today you would earn a total of 0.00 from holding Cathay Chemical Works or generate 0.0% return on investment in Cathay Chemical over 180 days. Cathay Chemical is related to or competes with Chung Hwa, China Man, Sesoda Corp, and Everlight Chemical. Cathay Chemical Works Inc. imports, manufactures, and sells specialty and fine chemicals under the CATHAY brand in Taiwa... More
Cathay Chemical 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 Chemical'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 Cathay Chemical Works upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.45) | |||
| Maximum Drawdown | 4.32 | |||
| Value At Risk | (1.71) | |||
| Potential Upside | 1.15 |
Cathay Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cathay Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cathay Chemical's standard deviation. In reality, there are many statistical measures that can use Cathay Chemical historical prices to predict the future Cathay Chemical's volatility.| Risk Adjusted Performance | (0.23) | |||
| Jensen Alpha | (0.34) | |||
| Total Risk Alpha | (0.44) | |||
| Treynor Ratio | (0.83) |
Cathay Chemical Works Backtested Returns
Cathay Chemical Works secures Sharpe Ratio (or Efficiency) of -0.35, which signifies that the company had a -0.35% return per unit of risk over the last 3 months. Cathay Chemical Works exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cathay Chemical's Standard Deviation of 0.9197, mean deviation of 0.7169, and Risk Adjusted Performance of (0.23) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.35, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Cathay Chemical's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cathay Chemical is expected to be smaller as well. At this point, Cathay Chemical Works has a negative expected return of -0.32%. Please make sure to confirm Cathay Chemical's maximum drawdown, potential upside, and the relationship between the treynor ratio and value at risk , to decide if Cathay Chemical Works performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.72 |
Almost perfect reverse predictability
Cathay Chemical Works has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Cathay Chemical time series from 28th of May 2024 to 26th of August 2024 and 26th of August 2024 to 24th 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 Chemical Works price movement. The serial correlation of -0.72 indicates that around 72.0% of current Cathay Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.72 | |
| Spearman Rank Test | -0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 8.59 |
Cathay Chemical Works lagged returns against current returns
Autocorrelation, which is Cathay Chemical 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 Cathay Chemical's stock expected returns. We can calculate the autocorrelation of Cathay Chemical returns to help us make a trade decision. For example, suppose you find that Cathay Chemical 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 |
Cathay Chemical 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 Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cathay Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cathay Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
Cathay Chemical Lagged Returns
When evaluating Cathay Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cathay Chemical stock have on its future price. Cathay Chemical 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 Chemical autocorrelation shows the relationship between Cathay Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in Cathay Chemical Works.
Regressed Prices |
| Timeline |
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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.Additional Tools for Cathay Stock Analysis
When running Cathay Chemical's price analysis, check to measure Cathay Chemical'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 Cathay Chemical is operating at the current time. Most of Cathay Chemical's value examination focuses on studying past and present price action to predict the probability of Cathay Chemical's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cathay Chemical's price. Additionally, you may evaluate how the addition of Cathay Chemical to your portfolios can decrease your overall portfolio volatility.