Te Chang (Taiwan) Market Value
| 5511 Stock | TWD 62.80 0.70 1.13% |
| Symbol | 5511 |
Te Chang '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 Te Chang'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 Te Chang.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in Te Chang on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding Te Chang Construction or generate 0.0% return on investment in Te Chang over 90 days. Te Chang is related to or competes with United Integrated, CTCI Corp, Ruentex Engineering, BES Engineering, Da Cin, and LK Engineering. More
Te Chang 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 Te Chang'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 Te Chang Construction upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.06 | |||
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 6.37 | |||
| Value At Risk | (1.89) | |||
| Potential Upside | 1.54 |
Te Chang Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Te Chang's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Te Chang's standard deviation. In reality, there are many statistical measures that can use Te Chang historical prices to predict the future Te Chang's volatility.| Risk Adjusted Performance | 0.0244 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | (0.09) | |||
| Treynor Ratio | 0.0835 |
Te Chang Construction Backtested Returns
At this stage we consider 5511 Stock to be very steady. Te Chang Construction retains Efficiency (Sharpe Ratio) of 0.0426, which indicates the firm had a 0.0426% return per unit of price deviation over the last 3 months. We have found twenty-eight technical indicators for Te Chang, which you can use to evaluate the volatility of the company. Please validate Te Chang's Risk Adjusted Performance of 0.0244, mean deviation of 0.7318, and Downside Deviation of 1.06 to confirm if the risk estimate we provide is consistent with the expected return of 0.0469%. Te Chang has a performance score of 3 on a scale of 0 to 100. The entity owns a Beta (Systematic Risk) of 0.24, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Te Chang's returns are expected to increase less than the market. However, during the bear market, the loss of holding Te Chang is expected to be smaller as well. Te Chang Construction now owns a risk of 1.1%. Please validate Te Chang Construction market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to decide if Te Chang Construction will be following its current price history.
Auto-correlation | -0.74 |
Almost perfect reverse predictability
Te Chang Construction has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Te Chang 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 Te Chang Construction price movement. The serial correlation of -0.74 indicates that around 74.0% of current Te Chang price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.74 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 1.62 |
Te Chang Construction lagged returns against current returns
Autocorrelation, which is Te Chang 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 Te Chang's stock expected returns. We can calculate the autocorrelation of Te Chang returns to help us make a trade decision. For example, suppose you find that Te Chang 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 |
Te Chang 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 Te Chang stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Te Chang stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Te Chang stock over time.
Current vs Lagged Prices |
| Timeline |
Te Chang Lagged Returns
When evaluating Te Chang's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Te Chang stock have on its future price. Te Chang 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, Te Chang autocorrelation shows the relationship between Te Chang stock current value and its past values and can show if there is a momentum factor associated with investing in Te Chang Construction.
Regressed Prices |
| Timeline |
Pair Trading with Te Chang
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 Te Chang 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 Te Chang will appreciate offsetting losses from the drop in the long position's value.Moving together with 5511 Stock
Moving against 5511 Stock
The ability to find closely correlated positions to Te Chang could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Te Chang 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 Te Chang - 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 Te Chang Construction to buy it.
The correlation of Te Chang 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 Te Chang moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Te Chang Construction 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 Te Chang 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 5511 Stock Analysis
When running Te Chang's price analysis, check to measure Te Chang'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 Te Chang is operating at the current time. Most of Te Chang's value examination focuses on studying past and present price action to predict the probability of Te Chang's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Te Chang's price. Additionally, you may evaluate how the addition of Te Chang to your portfolios can decrease your overall portfolio volatility.