Chaheng Precision (Taiwan) Market Value
| 4546 Stock | TWD 92.90 1.00 1.09% |
| Symbol | Chaheng |
Chaheng Precision '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 Chaheng Precision'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 Chaheng Precision.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in Chaheng Precision on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding Chaheng Precision Co or generate 0.0% return on investment in Chaheng Precision over 360 days. Chaheng Precision is related to or competes with Loop Telecommunicatio, Tai Tung, Jia Jie, Shan Loong, Sporton International, and BenQ Medical. Chaheng Precision Co., Ltd. develops, produces, manufactures, and sells aero-engine components in Taiwan More
Chaheng Precision 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 Chaheng Precision'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 Chaheng Precision Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 6.53 | |||
| Value At Risk | (2.58) | |||
| Potential Upside | 2.27 |
Chaheng Precision Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Chaheng Precision's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Chaheng Precision's standard deviation. In reality, there are many statistical measures that can use Chaheng Precision historical prices to predict the future Chaheng Precision's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.28) | |||
| Treynor Ratio | (0.23) |
Chaheng Precision Backtested Returns
Chaheng Precision secures Sharpe Ratio (or Efficiency) of -0.0421, which signifies that the company had a -0.0421% return per unit of standard deviation over the last 3 months. Chaheng Precision Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Chaheng Precision's mean deviation of 0.9186, and Risk Adjusted Performance of (0.03) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.3, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Chaheng Precision's returns are expected to increase less than the market. However, during the bear market, the loss of holding Chaheng Precision is expected to be smaller as well. At this point, Chaheng Precision has a negative expected return of -0.059%. Please make sure to confirm Chaheng Precision's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Chaheng Precision performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.29 |
Weak reverse predictability
Chaheng Precision Co has weak reverse predictability. Overlapping area represents the amount of predictability between Chaheng Precision time series from 9th of December 2023 to 6th of June 2024 and 6th of June 2024 to 3rd 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 Chaheng Precision price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current Chaheng Precision price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.29 | |
| Spearman Rank Test | 0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 32.28 |
Chaheng Precision lagged returns against current returns
Autocorrelation, which is Chaheng Precision 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 Chaheng Precision's stock expected returns. We can calculate the autocorrelation of Chaheng Precision returns to help us make a trade decision. For example, suppose you find that Chaheng Precision 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 |
Chaheng Precision 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 Chaheng Precision stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Chaheng Precision stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Chaheng Precision stock over time.
Current vs Lagged Prices |
| Timeline |
Chaheng Precision Lagged Returns
When evaluating Chaheng Precision's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Chaheng Precision stock have on its future price. Chaheng Precision 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, Chaheng Precision autocorrelation shows the relationship between Chaheng Precision stock current value and its past values and can show if there is a momentum factor associated with investing in Chaheng Precision Co.
Regressed Prices |
| Timeline |
Pair Trading with Chaheng Precision
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 Chaheng Precision 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 Chaheng Precision will appreciate offsetting losses from the drop in the long position's value.Moving against Chaheng Stock
| 0.79 | 6763 | Green World Fintech | PairCorr |
| 0.49 | 0053 | YuantaP shares Taiwan | PairCorr |
| 0.47 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.44 | 4541 | Magnate Technology | PairCorr |
| 0.43 | 0050 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Chaheng Precision could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chaheng Precision 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 Chaheng Precision - 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 Chaheng Precision Co to buy it.
The correlation of Chaheng Precision 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 Chaheng Precision moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chaheng Precision 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 Chaheng Precision 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 Chaheng Stock Analysis
When running Chaheng Precision's price analysis, check to measure Chaheng Precision'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 Chaheng Precision is operating at the current time. Most of Chaheng Precision's value examination focuses on studying past and present price action to predict the probability of Chaheng Precision's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chaheng Precision's price. Additionally, you may evaluate how the addition of Chaheng Precision to your portfolios can decrease your overall portfolio volatility.