Century Wind (Taiwan) Market Value
| 2072 Stock | TWD 300.50 3.50 1.15% |
| Symbol | Century |
Century Wind '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 Century Wind'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 Century Wind.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Century Wind on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Century Wind Power or generate 0.0% return on investment in Century Wind over 30 days. Century Wind is related to or competes with United Integrated, CTCI Corp, Ruentex Engineering, BES Engineering, Da Cin, and LK Engineering. It engages in international trading business, as well as manufactures and installs power generation, transmission, and d... More
Century Wind 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 Century Wind'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 Century Wind Power upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 12.16 | |||
| Value At Risk | (2.71) | |||
| Potential Upside | 2.37 |
Century Wind Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Century Wind's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Century Wind's standard deviation. In reality, there are many statistical measures that can use Century Wind historical prices to predict the future Century Wind's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.40) | |||
| Treynor Ratio | (0.56) |
Century Wind Power Backtested Returns
Century Wind Power secures Sharpe Ratio (or Efficiency) of -0.16, which signifies that the company had a -0.16% return per unit of risk over the last 3 months. Century Wind Power exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Century Wind's Standard Deviation of 1.69, mean deviation of 1.12, and Risk Adjusted Performance of (0.05) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.25, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Century Wind's returns are expected to increase less than the market. However, during the bear market, the loss of holding Century Wind is expected to be smaller as well. At this point, Century Wind Power has a negative expected return of -0.23%. Please make sure to confirm Century Wind's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Century Wind Power performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.11 |
Insignificant predictability
Century Wind Power has insignificant predictability. Overlapping area represents the amount of predictability between Century Wind time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Century Wind Power price movement. The serial correlation of 0.11 indicates that less than 11.0% of current Century Wind price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.11 | |
| Spearman Rank Test | -0.21 | |
| Residual Average | 0.0 | |
| Price Variance | 4.91 |
Century Wind Power lagged returns against current returns
Autocorrelation, which is Century Wind 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 Century Wind's stock expected returns. We can calculate the autocorrelation of Century Wind returns to help us make a trade decision. For example, suppose you find that Century Wind 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 |
Century Wind 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 Century Wind stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Century Wind stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Century Wind stock over time.
Current vs Lagged Prices |
| Timeline |
Century Wind Lagged Returns
When evaluating Century Wind's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Century Wind stock have on its future price. Century Wind 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, Century Wind autocorrelation shows the relationship between Century Wind stock current value and its past values and can show if there is a momentum factor associated with investing in Century Wind Power.
Regressed Prices |
| Timeline |
Pair Trading with Century Wind
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 Century Wind 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 Century Wind will appreciate offsetting losses from the drop in the long position's value.Moving together with Century Stock
| 0.91 | 9933 | CTCI Corp | PairCorr |
| 0.7 | 3703 | Continental Holdings Corp | PairCorr |
| 0.64 | 2597 | Ruentex Engineering | PairCorr |
Moving against Century Stock
| 0.84 | 2881A | Fubon Financial Holding | PairCorr |
| 0.83 | 2882B | Cathay Financial Holding | PairCorr |
| 0.78 | 2317 | Hon Hai Precision | PairCorr |
| 0.73 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.72 | 0050 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Century Wind could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Century Wind 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 Century Wind - 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 Century Wind Power to buy it.
The correlation of Century Wind 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 Century Wind moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Century Wind Power 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 Century Wind 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 Century Stock Analysis
When running Century Wind's price analysis, check to measure Century Wind'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 Century Wind is operating at the current time. Most of Century Wind's value examination focuses on studying past and present price action to predict the probability of Century Wind's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Century Wind's price. Additionally, you may evaluate how the addition of Century Wind to your portfolios can decrease your overall portfolio volatility.