Chia Yi (Taiwan) Market Value
| 2067 Stock | TWD 12.00 1.05 9.59% |
| Symbol | Chia |
Chia Yi '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 Chia Yi'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 Chia Yi.
| 08/31/2024 |
| 11/29/2024 |
If you would invest 0.00 in Chia Yi on August 31, 2024 and sell it all today you would earn a total of 0.00 from holding Chia Yi Steel or generate 0.0% return on investment in Chia Yi over 90 days. Chia Yi is related to or competes with Huang Hsiang, Pacific Construction, Chung Lien, FDC International, and Kao Fong. More
Chia Yi 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 Chia Yi'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 Chia Yi Steel upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.18 | |||
| Information Ratio | 0.0113 | |||
| Maximum Drawdown | 23.39 | |||
| Value At Risk | (6.49) | |||
| Potential Upside | 9.59 |
Chia Yi Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chia Yi's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chia Yi's standard deviation. In reality, there are many statistical measures that can use Chia Yi historical prices to predict the future Chia Yi's volatility.| Risk Adjusted Performance | 0.0416 | |||
| Jensen Alpha | 0.1142 | |||
| Total Risk Alpha | (0.42) | |||
| Sortino Ratio | 0.0104 | |||
| Treynor Ratio | 0.4112 |
Chia Yi Steel Backtested Returns
Chia Yi appears to be somewhat reliable, given 3 months investment horizon. Chia Yi Steel secures Sharpe Ratio (or Efficiency) of 0.0554, which signifies that the company had a 0.0554% return per unit of risk over the last 3 months. We have found thirty technical indicators for Chia Yi Steel, which you can use to evaluate the volatility of the firm. Please makes use of Chia Yi's Downside Deviation of 4.18, risk adjusted performance of 0.0416, and Mean Deviation of 2.33 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Chia Yi holds a performance score of 4. The firm shows a Beta (market volatility) of 0.39, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Chia Yi's returns are expected to increase less than the market. However, during the bear market, the loss of holding Chia Yi is expected to be smaller as well. Please check Chia Yi's downside deviation, standard deviation, and the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Chia Yi's price patterns will revert.
Auto-correlation | -0.25 |
Weak reverse predictability
Chia Yi Steel has weak reverse predictability. Overlapping area represents the amount of predictability between Chia Yi time series from 31st of August 2024 to 15th of October 2024 and 15th of October 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 Chia Yi Steel price movement. The serial correlation of -0.25 indicates that over 25.0% of current Chia Yi price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.25 | |
| Spearman Rank Test | -0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.26 |
Chia Yi Steel lagged returns against current returns
Autocorrelation, which is Chia Yi 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 Chia Yi's stock expected returns. We can calculate the autocorrelation of Chia Yi returns to help us make a trade decision. For example, suppose you find that Chia Yi 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 |
Chia Yi 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 Chia Yi stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chia Yi stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chia Yi stock over time.
Current vs Lagged Prices |
| Timeline |
Chia Yi Lagged Returns
When evaluating Chia Yi's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chia Yi stock have on its future price. Chia Yi 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, Chia Yi autocorrelation shows the relationship between Chia Yi stock current value and its past values and can show if there is a momentum factor associated with investing in Chia Yi Steel.
Regressed Prices |
| Timeline |
Pair Trading with Chia Yi
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 Chia Yi 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 Chia Yi will appreciate offsetting losses from the drop in the long position's value.Moving against Chia Stock
| 0.59 | 2474 | Catcher Technology | PairCorr |
| 0.54 | 1532 | China Metal Products | PairCorr |
| 0.53 | 1589 | Yeong Guan Energy | PairCorr |
| 0.52 | 2327 | Yageo Corp | PairCorr |
| 0.48 | 4966 | Parade Technologies | PairCorr |
The ability to find closely correlated positions to Chia Yi could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chia Yi 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 Chia Yi - 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 Chia Yi Steel to buy it.
The correlation of Chia Yi 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 Chia Yi moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chia Yi Steel 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 Chia Yi 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 Chia Stock Analysis
When running Chia Yi's price analysis, check to measure Chia Yi'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 Chia Yi is operating at the current time. Most of Chia Yi's value examination focuses on studying past and present price action to predict the probability of Chia Yi's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chia Yi's price. Additionally, you may evaluate how the addition of Chia Yi to your portfolios can decrease your overall portfolio volatility.