Cleanaway (Taiwan) Market Value
| 8422 Stock | TWD 181.00 1.00 0.55% |
| Symbol | Cleanaway |
Cleanaway '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 Cleanaway'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 Cleanaway.
| 10/30/2023 |
| 11/23/2024 |
If you would invest 0.00 in Cleanaway on October 30, 2023 and sell it all today you would earn a total of 0.00 from holding Cleanaway Co or generate 0.0% return on investment in Cleanaway over 390 days. Cleanaway is related to or competes with Sunny Friend, Taiwan Secom, TTET Union, ECOVE Environment, and Yulon Finance. Cleanaway Company Limited operates as an intermediate treatment solidification company within the waste disposal process... More
Cleanaway 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 Cleanaway'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 Cleanaway Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 6.99 | |||
| Value At Risk | (1.08) | |||
| Potential Upside | 1.08 |
Cleanaway Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cleanaway's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cleanaway's standard deviation. In reality, there are many statistical measures that can use Cleanaway historical prices to predict the future Cleanaway's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.16) | |||
| Treynor Ratio | (0.19) |
Cleanaway Backtested Returns
Cleanaway secures Sharpe Ratio (or Efficiency) of -0.0459, which signifies that the company had a -0.0459% return per unit of standard deviation over the last 3 months. Cleanaway Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cleanaway's risk adjusted performance of (0.01), and Mean Deviation of 0.528 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.099, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Cleanaway's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cleanaway is expected to be smaller as well. At this point, Cleanaway has a negative expected return of -0.039%. Please make sure to confirm Cleanaway's market risk adjusted performance, coefficient of variation, jensen alpha, as well as the relationship between the mean deviation and standard deviation , to decide if Cleanaway performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.26 |
Weak reverse predictability
Cleanaway Co has weak reverse predictability. Overlapping area represents the amount of predictability between Cleanaway time series from 30th of October 2023 to 12th of May 2024 and 12th of May 2024 to 23rd 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 Cleanaway price movement. The serial correlation of -0.26 indicates that nearly 26.0% of current Cleanaway price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.26 | |
| Spearman Rank Test | -0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 14.94 |
Cleanaway lagged returns against current returns
Autocorrelation, which is Cleanaway 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 Cleanaway's stock expected returns. We can calculate the autocorrelation of Cleanaway returns to help us make a trade decision. For example, suppose you find that Cleanaway 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 |
Cleanaway 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 Cleanaway stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cleanaway stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cleanaway stock over time.
Current vs Lagged Prices |
| Timeline |
Cleanaway Lagged Returns
When evaluating Cleanaway's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cleanaway stock have on its future price. Cleanaway 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, Cleanaway autocorrelation shows the relationship between Cleanaway stock current value and its past values and can show if there is a momentum factor associated with investing in Cleanaway Co.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Cleanaway Stock Analysis
When running Cleanaway's price analysis, check to measure Cleanaway'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 Cleanaway is operating at the current time. Most of Cleanaway's value examination focuses on studying past and present price action to predict the probability of Cleanaway's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cleanaway's price. Additionally, you may evaluate how the addition of Cleanaway to your portfolios can decrease your overall portfolio volatility.