Tencent Music (Germany) Market Value
| 63TA Stock | EUR 10.40 0.30 2.80% |
| Symbol | Tencent |
Tencent Music '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 Tencent Music'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 Tencent Music.
| 06/02/2024 |
| 11/29/2024 |
If you would invest 0.00 in Tencent Music on June 2, 2024 and sell it all today you would earn a total of 0.00 from holding Tencent Music Entertainment or generate 0.0% return on investment in Tencent Music over 180 days. Tencent Music is related to or competes with Entravision Communications, DOCDATA, MICRONIC MYDATA, Ribbon Communications, Chunghwa Telecom, INFORMATION SVC, and Automatic Data. More
Tencent Music 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 Tencent Music'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 Tencent Music Entertainment upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.67 | |||
| Information Ratio | 0.0523 | |||
| Maximum Drawdown | 21.17 | |||
| Value At Risk | (4.50) | |||
| Potential Upside | 5.56 |
Tencent Music Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tencent Music's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tencent Music's standard deviation. In reality, there are many statistical measures that can use Tencent Music historical prices to predict the future Tencent Music's volatility.| Risk Adjusted Performance | 0.077 | |||
| Jensen Alpha | 0.2254 | |||
| Total Risk Alpha | (0.21) | |||
| Sortino Ratio | 0.0643 | |||
| Treynor Ratio | 0.5373 |
Tencent Music Entert Backtested Returns
Tencent Music appears to be somewhat reliable, given 3 months investment horizon. Tencent Music Entert owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0872, which indicates the firm had a 0.0872% return per unit of risk over the last 3 months. We have found thirty technical indicators for Tencent Music Entertainment, which you can use to evaluate the volatility of the company. Please review Tencent Music's Coefficient Of Variation of 1105.83, risk adjusted performance of 0.077, and Semi Deviation of 2.26 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Tencent Music holds a performance score of 6. The entity has a beta of 0.53, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Tencent Music's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tencent Music is expected to be smaller as well. Please check Tencent Music's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Tencent Music's existing price patterns will revert.
Auto-correlation | -0.09 |
Very weak reverse predictability
Tencent Music Entertainment has very weak reverse predictability. Overlapping area represents the amount of predictability between Tencent Music time series from 2nd of June 2024 to 31st of August 2024 and 31st of August 2024 to 29th 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 Tencent Music Entert price movement. The serial correlation of -0.09 indicates that less than 9.0% of current Tencent Music price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.09 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.99 |
Tencent Music Entert lagged returns against current returns
Autocorrelation, which is Tencent Music 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 Tencent Music's stock expected returns. We can calculate the autocorrelation of Tencent Music returns to help us make a trade decision. For example, suppose you find that Tencent Music 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 |
Tencent Music 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 Tencent Music stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tencent Music stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tencent Music stock over time.
Current vs Lagged Prices |
| Timeline |
Tencent Music Lagged Returns
When evaluating Tencent Music's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tencent Music stock have on its future price. Tencent Music 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, Tencent Music autocorrelation shows the relationship between Tencent Music stock current value and its past values and can show if there is a momentum factor associated with investing in Tencent Music Entertainment.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in Tencent Stock
When determining whether Tencent Music Entert is a strong investment it is important to analyze Tencent Music's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Tencent Music's future performance. For an informed investment choice regarding Tencent Stock, refer to the following important reports:Check out Tencent Music Correlation, Tencent Music Volatility and Tencent Music Alpha and Beta module to complement your research on Tencent Music. You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Tencent Music technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.