PChome Online (Taiwan) Market Value
| 8044 Stock | TWD 54.20 2.50 4.41% |
| Symbol | PChome |
PChome Online '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 PChome Online'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 PChome Online.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in PChome Online on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding PChome Online or generate 0.0% return on investment in PChome Online over 30 days. PChome Online is related to or competes with Addcn Technology, and Taiwan Taomee. PChome Online Inc. provides e-commerce and portal services in China and internationally More
PChome Online 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 PChome Online'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 PChome Online upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.04 | |||
| Information Ratio | 0.222 | |||
| Maximum Drawdown | 19.96 | |||
| Value At Risk | (4.54) | |||
| Potential Upside | 9.91 |
PChome Online Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PChome Online's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PChome Online's standard deviation. In reality, there are many statistical measures that can use PChome Online historical prices to predict the future PChome Online's volatility.| Risk Adjusted Performance | 0.2025 | |||
| Jensen Alpha | 0.8847 | |||
| Total Risk Alpha | 0.3836 | |||
| Sortino Ratio | 0.2902 | |||
| Treynor Ratio | 1.03 |
PChome Online Backtested Returns
PChome Online is very steady given 3 months investment horizon. PChome Online maintains Sharpe Ratio (i.e., Efficiency) of 0.25, which implies the company had a 0.25% return per unit of risk over the last 3 months. We are able to interpolate and break down twenty-eight different technical indicators, which can help you to evaluate if expected returns of 1.04% are justified by taking the suggested risk. Use PChome Online Coefficient Of Variation of 393.1, standard deviation of 3.97, and Market Risk Adjusted Performance of 1.04 to evaluate company specific risk that cannot be diversified away. PChome Online holds a performance score of 19 on a scale of zero to a hundred. The firm holds a Beta of 0.97, which implies possible diversification benefits within a given portfolio. PChome Online returns are very sensitive to returns on the market. As the market goes up or down, PChome Online is expected to follow. Use PChome Online downside deviation, information ratio, and the relationship between the semi deviation and coefficient of variation , to analyze future returns on PChome Online.
Auto-correlation | 0.02 |
Virtually no predictability
PChome Online has virtually no predictability. Overlapping area represents the amount of predictability between PChome Online time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 PChome Online price movement. The serial correlation of 0.02 indicates that only 2.0% of current PChome Online price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 4.94 |
PChome Online lagged returns against current returns
Autocorrelation, which is PChome Online 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 PChome Online's stock expected returns. We can calculate the autocorrelation of PChome Online returns to help us make a trade decision. For example, suppose you find that PChome Online 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 |
PChome Online 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 PChome Online stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PChome Online stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PChome Online stock over time.
Current vs Lagged Prices |
| Timeline |
PChome Online Lagged Returns
When evaluating PChome Online's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PChome Online stock have on its future price. PChome Online 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, PChome Online autocorrelation shows the relationship between PChome Online stock current value and its past values and can show if there is a momentum factor associated with investing in PChome Online.
Regressed Prices |
| Timeline |
Pair Trading with PChome Online
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 PChome Online 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 PChome Online will appreciate offsetting losses from the drop in the long position's value.Moving together with PChome Stock
The ability to find closely correlated positions to PChome Online could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PChome Online 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 PChome Online - 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 PChome Online to buy it.
The correlation of PChome Online 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 PChome Online moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PChome Online 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 PChome Online 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 PChome Stock Analysis
When running PChome Online's price analysis, check to measure PChome Online'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 PChome Online is operating at the current time. Most of PChome Online's value examination focuses on studying past and present price action to predict the probability of PChome Online's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move PChome Online's price. Additionally, you may evaluate how the addition of PChome Online to your portfolios can decrease your overall portfolio volatility.