Chi Hua (Taiwan) Market Value

1593 Stock  TWD 37.40  0.05  0.13%   
Chi Hua's market value is the price at which a share of Chi Hua trades on a public exchange. It measures the collective expectations of Chi Hua Fitness investors about its performance. Chi Hua is selling for under 37.40 as of the 5th of December 2024; that is 0.13 percent increase since the beginning of the trading day. The stock's lowest day price was 37.35.
With this module, you can estimate the performance of a buy and hold strategy of Chi Hua Fitness and determine expected loss or profit from investing in Chi Hua over a given investment horizon. Check out Chi Hua Correlation, Chi Hua Volatility and Chi Hua Alpha and Beta module to complement your research on Chi Hua.
Symbol

Please note, there is a significant difference between Chi Hua's value and its price as these two are different measures arrived at by different means. Investors typically determine if Chi Hua is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Chi Hua's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Chi Hua '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 Chi Hua'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 Chi Hua.
0.00
01/15/2023
No Change 0.00  0.0 
In 1 year 10 months and 21 days
12/05/2024
0.00
If you would invest  0.00  in Chi Hua on January 15, 2023 and sell it all today you would earn a total of 0.00 from holding Chi Hua Fitness or generate 0.0% return on investment in Chi Hua over 690 days. Chi Hua is related to or competes with Pontex Polyblend, EnTie Commercial, Hunya Foods, Chung Lien, Taichung Commercial, Shanghai Commercial, and Hi Lai. More

Chi Hua 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 Chi Hua'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 Chi Hua Fitness upside and downside potential and time the market with a certain degree of confidence.

Chi Hua Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Chi Hua's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chi Hua's standard deviation. In reality, there are many statistical measures that can use Chi Hua historical prices to predict the future Chi Hua's volatility.
Hype
Prediction
LowEstimatedHigh
35.9537.4038.85
Details
Intrinsic
Valuation
LowRealHigh
32.3633.8141.14
Details
Naive
Forecast
LowNextHigh
34.6236.0737.52
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
37.2437.5037.77
Details

Chi Hua Fitness Backtested Returns

Chi Hua Fitness secures Sharpe Ratio (or Efficiency) of -0.1, which signifies that the company had a -0.1% return per unit of risk over the last 3 months. Chi Hua Fitness exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Chi Hua's Mean Deviation of 0.8532, standard deviation of 1.45, and Risk Adjusted Performance of (0.07) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0971, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Chi Hua are expected to decrease at a much lower rate. During the bear market, Chi Hua is likely to outperform the market. At this point, Chi Hua Fitness has a negative expected return of -0.15%. Please make sure to confirm Chi Hua's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Chi Hua Fitness performance from the past will be repeated at some point in the near future.

Auto-correlation

    
  0.20  

Weak predictability

Chi Hua Fitness has weak predictability. Overlapping area represents the amount of predictability between Chi Hua time series from 15th of January 2023 to 26th of December 2023 and 26th of December 2023 to 5th of December 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 Chi Hua Fitness price movement. The serial correlation of 0.2 indicates that over 20.0% of current Chi Hua price fluctuation can be explain by its past prices.
Correlation Coefficient0.2
Spearman Rank Test0.67
Residual Average0.0
Price Variance13.94

Chi Hua Fitness lagged returns against current returns

Autocorrelation, which is Chi Hua 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 Chi Hua's stock expected returns. We can calculate the autocorrelation of Chi Hua returns to help us make a trade decision. For example, suppose you find that Chi Hua 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  

Chi Hua 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 Chi Hua stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chi Hua stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chi Hua stock over time.
   Current vs Lagged Prices   
       Timeline  

Chi Hua Lagged Returns

When evaluating Chi Hua's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chi Hua stock have on its future price. Chi Hua 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, Chi Hua autocorrelation shows the relationship between Chi Hua stock current value and its past values and can show if there is a momentum factor associated with investing in Chi Hua Fitness.
   Regressed Prices   
       Timeline  

Pair Trading with Chi Hua

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 Chi Hua 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 Chi Hua will appreciate offsetting losses from the drop in the long position's value.

Moving together with Chi Stock

  0.829921 Giant ManufacturingPairCorr
  0.859914 Merida IndustryPairCorr
  0.768478 Alexander MarinePairCorr

Moving against Chi Stock

  0.812881A Fubon Financial HoldingPairCorr
  0.772882B Cathay Financial HoldingPairCorr
  0.756768 Sports GearPairCorr
  0.72891 CTBC Financial HoldingPairCorr
  0.662883 China DevelopmentPairCorr
The ability to find closely correlated positions to Chi Hua could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chi Hua 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 Chi Hua - 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 Chi Hua Fitness to buy it.
The correlation of Chi Hua 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 Chi Hua moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chi Hua Fitness 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 Chi Hua 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.
Pair CorrelationCorrelation Matching

Additional Tools for Chi Stock Analysis

When running Chi Hua's price analysis, check to measure Chi Hua'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 Chi Hua is operating at the current time. Most of Chi Hua's value examination focuses on studying past and present price action to predict the probability of Chi Hua's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chi Hua's price. Additionally, you may evaluate how the addition of Chi Hua to your portfolios can decrease your overall portfolio volatility.