Chunghwa Chemical (Taiwan) Market Value
| 1762 Stock | TWD 37.85 0.70 1.82% |
| Symbol | Chunghwa |
Chunghwa 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 Chunghwa 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 Chunghwa Chemical.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Chunghwa Chemical on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Chunghwa Chemical Synthesis or generate 0.0% return on investment in Chunghwa Chemical over 30 days. Chunghwa Chemical is related to or competes with Sinphar Pharmaceutical, Abnova Taiwan, YungShin Global, Phytohealth Corp, and GenMont Biotech. Ltd. engages in research and development, manufacture, and wholesale of active pharmaceutical ingredients in Taiwan More
Chunghwa 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 Chunghwa 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 Chunghwa Chemical Synthesis upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 7.73 | |||
| Value At Risk | (1.82) | |||
| Potential Upside | 1.22 |
Chunghwa Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chunghwa Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chunghwa Chemical's standard deviation. In reality, there are many statistical measures that can use Chunghwa Chemical historical prices to predict the future Chunghwa Chemical's volatility.| Risk Adjusted Performance | (0.15) | |||
| Jensen Alpha | (0.32) | |||
| Total Risk Alpha | (0.47) | |||
| Treynor Ratio | (0.83) |
Chunghwa Chemical Backtested Returns
Chunghwa Chemical secures Sharpe Ratio (or Efficiency) of -0.2, which signifies that the company had a -0.2% return per unit of risk over the last 3 months. Chunghwa Chemical Synthesis exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Chunghwa Chemical's Standard Deviation of 1.3, risk adjusted performance of (0.15), and Mean Deviation of 0.8132 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.33, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Chunghwa Chemical's returns are expected to increase less than the market. However, during the bear market, the loss of holding Chunghwa Chemical is expected to be smaller as well. At this point, Chunghwa Chemical has a negative expected return of -0.26%. Please make sure to confirm Chunghwa Chemical's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Chunghwa Chemical performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.51 |
Modest predictability
Chunghwa Chemical Synthesis has modest predictability. Overlapping area represents the amount of predictability between Chunghwa Chemical 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 Chunghwa Chemical price movement. The serial correlation of 0.51 indicates that about 51.0% of current Chunghwa Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.59 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Chunghwa Chemical lagged returns against current returns
Autocorrelation, which is Chunghwa 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 Chunghwa Chemical's stock expected returns. We can calculate the autocorrelation of Chunghwa Chemical returns to help us make a trade decision. For example, suppose you find that Chunghwa 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 |
Chunghwa 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 Chunghwa Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chunghwa Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chunghwa Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
Chunghwa Chemical Lagged Returns
When evaluating Chunghwa Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chunghwa Chemical stock have on its future price. Chunghwa 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, Chunghwa Chemical autocorrelation shows the relationship between Chunghwa Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in Chunghwa Chemical Synthesis.
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 Chunghwa Stock Analysis
When running Chunghwa Chemical's price analysis, check to measure Chunghwa 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 Chunghwa Chemical is operating at the current time. Most of Chunghwa Chemical's value examination focuses on studying past and present price action to predict the probability of Chunghwa 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 Chunghwa Chemical's price. Additionally, you may evaluate how the addition of Chunghwa Chemical to your portfolios can decrease your overall portfolio volatility.