Chain Chon (Taiwan) Market Value
| 5014 Stock | TWD 15.15 0.20 1.34% |
| Symbol | Chain |
Chain Chon '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 Chain Chon'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 Chain Chon.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in Chain Chon on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding Chain Chon Industrial or generate 0.0% return on investment in Chain Chon over 180 days. Chain Chon is related to or competes with China Steel, Chung Hung, Tung Ho, Feng Hsin, Yieh Phui, Yieh United, and Century Iron. Chain Chon Industrial Co., Ltd. manufactures and sells stainless steel products in Taiwan and internationally More
Chain Chon 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 Chain Chon'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 Chain Chon Industrial upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 19.67 | |||
| Value At Risk | (3.96) | |||
| Potential Upside | 3.29 |
Chain Chon Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chain Chon's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chain Chon's standard deviation. In reality, there are many statistical measures that can use Chain Chon historical prices to predict the future Chain Chon's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | (0.09) |
Chain Chon Industrial Backtested Returns
Chain Chon Industrial secures Sharpe Ratio (or Efficiency) of -0.0277, which signifies that the company had a -0.0277% return per unit of standard deviation over the last 3 months. Chain Chon Industrial exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Chain Chon's risk adjusted performance of (0), and Mean Deviation of 1.69 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.41, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Chain Chon's returns are expected to increase less than the market. However, during the bear market, the loss of holding Chain Chon is expected to be smaller as well. At this point, Chain Chon Industrial has a negative expected return of -0.075%. Please make sure to confirm Chain Chon's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Chain Chon Industrial performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.10 |
Insignificant predictability
Chain Chon Industrial has insignificant predictability. Overlapping area represents the amount of predictability between Chain Chon time series from 30th of May 2024 to 28th of August 2024 and 28th of August 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 Chain Chon Industrial price movement. The serial correlation of 0.1 indicates that less than 10.0% of current Chain Chon price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.1 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 2.05 |
Chain Chon Industrial lagged returns against current returns
Autocorrelation, which is Chain Chon 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 Chain Chon's stock expected returns. We can calculate the autocorrelation of Chain Chon returns to help us make a trade decision. For example, suppose you find that Chain Chon 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 |
Chain Chon 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 Chain Chon stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chain Chon stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chain Chon stock over time.
Current vs Lagged Prices |
| Timeline |
Chain Chon Lagged Returns
When evaluating Chain Chon's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chain Chon stock have on its future price. Chain Chon 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, Chain Chon autocorrelation shows the relationship between Chain Chon stock current value and its past values and can show if there is a momentum factor associated with investing in Chain Chon Industrial.
Regressed Prices |
| Timeline |
Pair Trading with Chain Chon
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 Chain Chon 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 Chain Chon will appreciate offsetting losses from the drop in the long position's value.Moving together with Chain Stock
| 0.73 | 2002 | China Steel Corp | PairCorr |
| 0.72 | 2014 | Chung Hung Steel | PairCorr |
| 0.62 | 2015 | Feng Hsin Steel | PairCorr |
Moving against Chain Stock
| 0.48 | 2888 | Shin Kong Financial Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Chain Chon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chain Chon 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 Chain Chon - 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 Chain Chon Industrial to buy it.
The correlation of Chain Chon 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 Chain Chon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chain Chon Industrial 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 Chain Chon 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 Chain Stock Analysis
When running Chain Chon's price analysis, check to measure Chain Chon'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 Chain Chon is operating at the current time. Most of Chain Chon's value examination focuses on studying past and present price action to predict the probability of Chain Chon's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chain Chon's price. Additionally, you may evaluate how the addition of Chain Chon to your portfolios can decrease your overall portfolio volatility.