Cheng Mei (Taiwan) Market Value
| 4960 Stock | 12.80 0.10 0.79% |
| Symbol | Cheng |
Cheng Mei '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 Cheng Mei'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 Cheng Mei.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Cheng Mei on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Cheng Mei Materials or generate 0.0% return on investment in Cheng Mei over 720 days. Cheng Mei is related to or competes with Taiwan Semiconductor, Yang Ming, ASE Industrial, AU Optronics, Innolux Corp, United Microelectronics, and Nan Ya. Chimei Materials Technology Corporation produces and sells polarizing plates to liquid crystal display panel makers in Taiwan. More
Cheng Mei 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 Cheng Mei'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 Cheng Mei Materials upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 7.7 | |||
| Value At Risk | (2.96) | |||
| Potential Upside | 1.95 |
Cheng Mei Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cheng Mei's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cheng Mei's standard deviation. In reality, there are many statistical measures that can use Cheng Mei historical prices to predict the future Cheng Mei's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.36) | |||
| Treynor Ratio | (0.33) |
Cheng Mei Materials Backtested Returns
Cheng Mei Materials secures Sharpe Ratio (or Efficiency) of -0.0385, which signifies that the company had a -0.0385% return per unit of standard deviation over the last 3 months. Cheng Mei Materials exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cheng Mei's risk adjusted performance of (0.06), and Mean Deviation of 1.03 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.38, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Cheng Mei's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cheng Mei is expected to be smaller as well. At this point, Cheng Mei Materials has a negative expected return of -0.0519%. Please make sure to confirm Cheng Mei's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Cheng Mei Materials performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.11 |
Insignificant reverse predictability
Cheng Mei Materials has insignificant reverse predictability. Overlapping area represents the amount of predictability between Cheng Mei time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 Cheng Mei Materials price movement. The serial correlation of -0.11 indicates that less than 11.0% of current Cheng Mei price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.11 | |
| Spearman Rank Test | -0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 1.09 |
Cheng Mei Materials lagged returns against current returns
Autocorrelation, which is Cheng Mei 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 Cheng Mei's stock expected returns. We can calculate the autocorrelation of Cheng Mei returns to help us make a trade decision. For example, suppose you find that Cheng Mei 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 |
Cheng Mei 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 Cheng Mei stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cheng Mei stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cheng Mei stock over time.
Current vs Lagged Prices |
| Timeline |
Cheng Mei Lagged Returns
When evaluating Cheng Mei's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cheng Mei stock have on its future price. Cheng Mei 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, Cheng Mei autocorrelation shows the relationship between Cheng Mei stock current value and its past values and can show if there is a momentum factor associated with investing in Cheng Mei Materials.
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 Cheng Stock Analysis
When running Cheng Mei's price analysis, check to measure Cheng Mei'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 Cheng Mei is operating at the current time. Most of Cheng Mei's value examination focuses on studying past and present price action to predict the probability of Cheng Mei's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cheng Mei's price. Additionally, you may evaluate how the addition of Cheng Mei to your portfolios can decrease your overall portfolio volatility.