Cayenne Entertainment (Taiwan) Market Value
| 4946 Stock | TWD 39.35 0.05 0.13% |
| Symbol | Cayenne |
Cayenne Entertainment '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 Cayenne Entertainment'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 Cayenne Entertainment.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in Cayenne Entertainment on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding Cayenne Entertainment Technology or generate 0.0% return on investment in Cayenne Entertainment over 90 days. Cayenne Entertainment is related to or competes with International Games, X Legend, and Fun Yours. Cayenne Entertainment Technology Co., Ltd More
Cayenne Entertainment 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 Cayenne Entertainment'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 Cayenne Entertainment Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 24.71 | |||
| Value At Risk | (9.90) | |||
| Potential Upside | 9.93 |
Cayenne Entertainment Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cayenne Entertainment's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cayenne Entertainment's standard deviation. In reality, there are many statistical measures that can use Cayenne Entertainment historical prices to predict the future Cayenne Entertainment's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.47) | |||
| Total Risk Alpha | (1.19) | |||
| Treynor Ratio | (1.22) |
Cayenne Entertainment Backtested Returns
Cayenne Entertainment secures Sharpe Ratio (or Efficiency) of -0.0893, which signifies that the company had a -0.0893% return per unit of risk over the last 3 months. Cayenne Entertainment Technology exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cayenne Entertainment's Mean Deviation of 3.04, standard deviation of 4.82, and Risk Adjusted Performance of (0.06) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.35, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Cayenne Entertainment's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cayenne Entertainment is expected to be smaller as well. At this point, Cayenne Entertainment has a negative expected return of -0.44%. Please make sure to confirm Cayenne Entertainment's potential upside, kurtosis, and the relationship between the maximum drawdown and skewness , to decide if Cayenne Entertainment performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.11 |
Insignificant predictability
Cayenne Entertainment Technology has insignificant predictability. Overlapping area represents the amount of predictability between Cayenne Entertainment time series from 28th of August 2024 to 12th of October 2024 and 12th of October 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 Cayenne Entertainment price movement. The serial correlation of 0.11 indicates that less than 11.0% of current Cayenne Entertainment price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.11 | |
| Spearman Rank Test | -0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 1.76 |
Cayenne Entertainment lagged returns against current returns
Autocorrelation, which is Cayenne Entertainment 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 Cayenne Entertainment's stock expected returns. We can calculate the autocorrelation of Cayenne Entertainment returns to help us make a trade decision. For example, suppose you find that Cayenne Entertainment 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 |
Cayenne Entertainment 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 Cayenne Entertainment stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cayenne Entertainment stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cayenne Entertainment stock over time.
Current vs Lagged Prices |
| Timeline |
Cayenne Entertainment Lagged Returns
When evaluating Cayenne Entertainment's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cayenne Entertainment stock have on its future price. Cayenne Entertainment 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, Cayenne Entertainment autocorrelation shows the relationship between Cayenne Entertainment stock current value and its past values and can show if there is a momentum factor associated with investing in Cayenne Entertainment Technology.
Regressed Prices |
| Timeline |
Pair Trading with Cayenne Entertainment
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 Cayenne Entertainment 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 Cayenne Entertainment will appreciate offsetting losses from the drop in the long position's value.Moving together with Cayenne Stock
Moving against Cayenne Stock
| 0.84 | 3293 | International Games | PairCorr |
| 0.8 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.75 | 3533 | Lotes | PairCorr |
| 0.75 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.72 | 0050 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Cayenne Entertainment could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cayenne Entertainment 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 Cayenne Entertainment - 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 Cayenne Entertainment Technology to buy it.
The correlation of Cayenne Entertainment 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 Cayenne Entertainment moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cayenne Entertainment 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 Cayenne Entertainment 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 Cayenne Stock Analysis
When running Cayenne Entertainment's price analysis, check to measure Cayenne Entertainment'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 Cayenne Entertainment is operating at the current time. Most of Cayenne Entertainment's value examination focuses on studying past and present price action to predict the probability of Cayenne Entertainment's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cayenne Entertainment's price. Additionally, you may evaluate how the addition of Cayenne Entertainment to your portfolios can decrease your overall portfolio volatility.