Chief Telecom (Taiwan) Market Value
| 6561 Stock | 515.00 11.00 2.18% |
| Symbol | Chief |
Chief Telecom '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 Chief Telecom'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 Chief Telecom.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Chief Telecom on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Chief Telecom or generate 0.0% return on investment in Chief Telecom over 30 days. Chief Telecom is related to or competes with Sunny Friend, Aspeed Technology, Standard Foods, Realtek Semiconductor, and China Steel. More
Chief Telecom 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 Chief Telecom'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 Chief Telecom upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.03 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 14.39 | |||
| Value At Risk | (2.52) | |||
| Potential Upside | 3.63 |
Chief Telecom Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chief Telecom's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chief Telecom's standard deviation. In reality, there are many statistical measures that can use Chief Telecom historical prices to predict the future Chief Telecom's volatility.| Risk Adjusted Performance | 0.0348 | |||
| Jensen Alpha | 0.033 | |||
| Total Risk Alpha | (0.32) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.2233 |
Chief Telecom Backtested Returns
Chief Telecom secures Sharpe Ratio (or Efficiency) of -0.0045, which signifies that the company had a -0.0045% return per unit of risk over the last 3 months. Chief Telecom exposes thirty different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Chief Telecom's Mean Deviation of 1.5, downside deviation of 2.03, and Risk Adjusted Performance of 0.0348 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, Chief Telecom's returns are expected to increase less than the market. However, during the bear market, the loss of holding Chief Telecom is expected to be smaller as well. At this point, Chief Telecom has a negative expected return of -0.0094%. Please make sure to confirm Chief Telecom's downside deviation, standard deviation, and the relationship between the semi deviation and coefficient of variation , to decide if Chief Telecom performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.69 |
Very good reverse predictability
Chief Telecom has very good reverse predictability. Overlapping area represents the amount of predictability between Chief Telecom time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Chief Telecom price movement. The serial correlation of -0.69 indicates that around 69.0% of current Chief Telecom price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.69 | |
| Spearman Rank Test | -0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 21.34 |
Chief Telecom lagged returns against current returns
Autocorrelation, which is Chief Telecom 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 Chief Telecom's stock expected returns. We can calculate the autocorrelation of Chief Telecom returns to help us make a trade decision. For example, suppose you find that Chief Telecom 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 |
Chief Telecom 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 Chief Telecom stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chief Telecom stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chief Telecom stock over time.
Current vs Lagged Prices |
| Timeline |
Chief Telecom Lagged Returns
When evaluating Chief Telecom's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chief Telecom stock have on its future price. Chief Telecom 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, Chief Telecom autocorrelation shows the relationship between Chief Telecom stock current value and its past values and can show if there is a momentum factor associated with investing in Chief Telecom.
Regressed Prices |
| Timeline |
Pair Trading with Chief Telecom
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 Chief Telecom 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 Chief Telecom will appreciate offsetting losses from the drop in the long position's value.Moving against Chief Stock
The ability to find closely correlated positions to Chief Telecom could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chief Telecom 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 Chief Telecom - 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 Chief Telecom to buy it.
The correlation of Chief Telecom 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 Chief Telecom moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chief Telecom 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 Chief Telecom 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 Chief Stock Analysis
When running Chief Telecom's price analysis, check to measure Chief Telecom'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 Chief Telecom is operating at the current time. Most of Chief Telecom's value examination focuses on studying past and present price action to predict the probability of Chief Telecom's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chief Telecom's price. Additionally, you may evaluate how the addition of Chief Telecom to your portfolios can decrease your overall portfolio volatility.