Cheng Loong (Taiwan) Market Value
| 1904 Stock | TWD 21.70 0.25 1.14% |
| Symbol | Cheng |
Cheng Loong '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 Cheng Loong'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 Cheng Loong.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Cheng Loong on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Cheng Loong Corp or generate 0.0% return on investment in Cheng Loong over 30 days. Cheng Loong is related to or competes with YFY, Long Chen, Chung Hwa, Nan Ya, and Taiwan Cement. Cheng Loong Corporation manufactures and sells paper products in Taiwan, China, and Southeast Asia More
Cheng Loong 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 Cheng Loong'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 Cheng Loong Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.31) | |||
| Maximum Drawdown | 7.4 | |||
| Value At Risk | (2.29) | |||
| Potential Upside | 1.26 |
Cheng Loong Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cheng Loong's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cheng Loong's standard deviation. In reality, there are many statistical measures that can use Cheng Loong historical prices to predict the future Cheng Loong's volatility.| Risk Adjusted Performance | (0.15) | |||
| Jensen Alpha | (0.28) | |||
| Total Risk Alpha | (0.46) | |||
| Treynor Ratio | (1.93) |
Cheng Loong Corp Backtested Returns
Cheng Loong Corp secures Sharpe Ratio (or Efficiency) of -0.21, which signifies that the company had a -0.21% return per unit of standard deviation over the last 3 months. Cheng Loong Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cheng Loong's mean deviation of 0.8084, and Risk Adjusted Performance of (0.15) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.13, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Cheng Loong's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cheng Loong is expected to be smaller as well. At this point, Cheng Loong Corp has a negative expected return of -0.26%. Please make sure to confirm Cheng Loong's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Cheng Loong Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.70 |
Good predictability
Cheng Loong Corp has good predictability. Overlapping area represents the amount of predictability between Cheng Loong time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 to 2nd of December 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 Cheng Loong Corp price movement. The serial correlation of 0.7 indicates that around 70.0% of current Cheng Loong price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.7 | |
| Spearman Rank Test | 0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
Cheng Loong Corp lagged returns against current returns
Autocorrelation, which is Cheng Loong 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 Cheng Loong's stock expected returns. We can calculate the autocorrelation of Cheng Loong returns to help us make a trade decision. For example, suppose you find that Cheng Loong 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 |
Cheng Loong 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 Cheng Loong stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cheng Loong stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cheng Loong stock over time.
Current vs Lagged Prices |
| Timeline |
Cheng Loong Lagged Returns
When evaluating Cheng Loong's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cheng Loong stock have on its future price. Cheng Loong 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, Cheng Loong autocorrelation shows the relationship between Cheng Loong stock current value and its past values and can show if there is a momentum factor associated with investing in Cheng Loong Corp.
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 Cheng Stock Analysis
When running Cheng Loong's price analysis, check to measure Cheng Loong'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 Cheng Loong is operating at the current time. Most of Cheng Loong's value examination focuses on studying past and present price action to predict the probability of Cheng Loong's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cheng Loong's price. Additionally, you may evaluate how the addition of Cheng Loong to your portfolios can decrease your overall portfolio volatility.