China Steel (Taiwan) Market Value
| 2002A Stock | TWD 41.90 0.45 1.06% |
| Symbol | China |
China Steel '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 China Steel'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 China Steel.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in China Steel on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding China Steel Corp or generate 0.0% return on investment in China Steel over 30 days. China Steel is related to or competes with China Steel, Chung Hung, Tung Ho, Feng Hsin, Yieh Phui, Yieh United, and Century Iron. China Steel Corporation manufactures and sells steel products primarily in Taiwan, Vietnam, Malaysia, China, India, and ... More
China Steel 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 China Steel'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 China Steel Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.58) | |||
| Maximum Drawdown | 0.9476 | |||
| Value At Risk | (0.36) | |||
| Potential Upside | 0.3584 |
China Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for China Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as China Steel's standard deviation. In reality, there are many statistical measures that can use China Steel historical prices to predict the future China Steel's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.08) | |||
| Treynor Ratio | 2.67 |
China Steel Corp Backtested Returns
China Steel Corp secures Sharpe Ratio (or Efficiency) of -0.11, which signifies that the company had a -0.11% return per unit of risk over the last 3 months. China Steel Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm China Steel's Standard Deviation of 0.2743, risk adjusted performance of (0.10), and Mean Deviation of 0.2021 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.015, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning China Steel are expected to decrease at a much lower rate. During the bear market, China Steel is likely to outperform the market. At this point, China Steel Corp has a negative expected return of -0.0297%. Please make sure to confirm China Steel's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if China Steel Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.14 |
Insignificant predictability
China Steel Corp has insignificant predictability. Overlapping area represents the amount of predictability between China Steel time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 China Steel Corp price movement. The serial correlation of 0.14 indicates that less than 14.0% of current China Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.14 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
China Steel Corp lagged returns against current returns
Autocorrelation, which is China Steel 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 China Steel's stock expected returns. We can calculate the autocorrelation of China Steel returns to help us make a trade decision. For example, suppose you find that China Steel 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 |
China Steel 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 China Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if China Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in China Steel stock over time.
Current vs Lagged Prices |
| Timeline |
China Steel Lagged Returns
When evaluating China Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of China Steel stock have on its future price. China Steel 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, China Steel autocorrelation shows the relationship between China Steel stock current value and its past values and can show if there is a momentum factor associated with investing in China Steel 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 China Stock Analysis
When running China Steel's price analysis, check to measure China Steel'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 China Steel is operating at the current time. Most of China Steel's value examination focuses on studying past and present price action to predict the probability of China Steel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move China Steel's price. Additionally, you may evaluate how the addition of China Steel to your portfolios can decrease your overall portfolio volatility.