Cayman Tung (Taiwan) Market Value
| 2924 Stock | TWD 34.20 1.15 3.48% |
| Symbol | Cayman |
Cayman Tung '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 Cayman Tung'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 Cayman Tung.
| 07/05/2023 |
| 11/26/2024 |
If you would invest 0.00 in Cayman Tung on July 5, 2023 and sell it all today you would earn a total of 0.00 from holding Cayman Tung Ling or generate 0.0% return on investment in Cayman Tung over 510 days. Cayman Tung is related to or competes with Dynamic Medical, Louisa Professional, Emerging Display, Hannstar Display, Tradetool Auto, and Est Global. Cayman Tung Ling Co., Limited researches, develops, manufactures, and sells baby apparel products in Taiwan and internat... More
Cayman Tung 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 Cayman Tung'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 Cayman Tung Ling upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 9.55 | |||
| Value At Risk | (3.14) | |||
| Potential Upside | 3.28 |
Cayman Tung Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cayman Tung's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cayman Tung's standard deviation. In reality, there are many statistical measures that can use Cayman Tung historical prices to predict the future Cayman Tung's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.53) | |||
| Treynor Ratio | 0.8255 |
Cayman Tung Ling Backtested Returns
Cayman Tung Ling secures Sharpe Ratio (or Efficiency) of -0.15, which signifies that the company had a -0.15% return per unit of risk over the last 3 months. Cayman Tung Ling exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cayman Tung's Standard Deviation of 1.98, mean deviation of 1.25, and Risk Adjusted Performance of (0.08) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.28, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Cayman Tung are expected to decrease at a much lower rate. During the bear market, Cayman Tung is likely to outperform the market. At this point, Cayman Tung Ling has a negative expected return of -0.24%. Please make sure to confirm Cayman Tung's maximum drawdown, potential upside, kurtosis, as well as the relationship between the value at risk and skewness , to decide if Cayman Tung Ling performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.22 |
Weak reverse predictability
Cayman Tung Ling has weak reverse predictability. Overlapping area represents the amount of predictability between Cayman Tung time series from 5th of July 2023 to 16th of March 2024 and 16th of March 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 Cayman Tung Ling price movement. The serial correlation of -0.22 indicates that over 22.0% of current Cayman Tung price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.22 | |
| Spearman Rank Test | -0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 33.21 |
Cayman Tung Ling lagged returns against current returns
Autocorrelation, which is Cayman Tung 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 Cayman Tung's stock expected returns. We can calculate the autocorrelation of Cayman Tung returns to help us make a trade decision. For example, suppose you find that Cayman Tung 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 |
Cayman Tung 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 Cayman Tung stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cayman Tung stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cayman Tung stock over time.
Current vs Lagged Prices |
| Timeline |
Cayman Tung Lagged Returns
When evaluating Cayman Tung's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cayman Tung stock have on its future price. Cayman Tung 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, Cayman Tung autocorrelation shows the relationship between Cayman Tung stock current value and its past values and can show if there is a momentum factor associated with investing in Cayman Tung Ling.
Regressed Prices |
| Timeline |
Pair Trading with Cayman Tung
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 Cayman Tung 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 Cayman Tung will appreciate offsetting losses from the drop in the long position's value.Moving together with Cayman Stock
Moving against Cayman Stock
| 0.75 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.74 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.72 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.71 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.6 | 2603 | Evergreen Marine Corp | PairCorr |
The ability to find closely correlated positions to Cayman Tung could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cayman Tung 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 Cayman Tung - 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 Cayman Tung Ling to buy it.
The correlation of Cayman Tung 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 Cayman Tung moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cayman Tung Ling 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 Cayman Tung 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 Cayman Stock Analysis
When running Cayman Tung's price analysis, check to measure Cayman Tung'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 Cayman Tung is operating at the current time. Most of Cayman Tung's value examination focuses on studying past and present price action to predict the probability of Cayman Tung's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cayman Tung's price. Additionally, you may evaluate how the addition of Cayman Tung to your portfolios can decrease your overall portfolio volatility.