Companhia Tecidos (Brazil) Market Value
| CTSA3 Stock | BRL 2.59 0.05 1.97% |
| Symbol | Companhia |
Companhia Tecidos '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 Companhia Tecidos' 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 Companhia Tecidos.
| 03/29/2024 |
| 04/28/2024 |
If you would invest 0.00 in Companhia Tecidos on March 29, 2024 and sell it all today you would earn a total of 0.00 from holding Companhia Tecidos Santanense or generate 0.0% return on investment in Companhia Tecidos over 30 days. Companhia Tecidos is related to or competes with Engie Brasil, and M Dias. Companhia Tecidos Santanense Ltda. engages in textile business in Brazil and internationally More
Companhia Tecidos 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 Companhia Tecidos' 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 Companhia Tecidos Santanense upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.32) | |||
| Maximum Drawdown | 13.61 | |||
| Value At Risk | (4.69) | |||
| Potential Upside | 2.37 |
Companhia Tecidos Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Companhia Tecidos' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Companhia Tecidos' standard deviation. In reality, there are many statistical measures that can use Companhia Tecidos historical prices to predict the future Companhia Tecidos' volatility.| Risk Adjusted Performance | (0.17) | |||
| Jensen Alpha | (0.82) | |||
| Total Risk Alpha | (1.03) | |||
| Treynor Ratio | (0.56) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Companhia Tecidos' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Companhia Tecidos Backtested Returns
Companhia Tecidos secures Sharpe Ratio (or Efficiency) of -0.29, which signifies that the company had a -0.29% return per unit of risk over the last 3 months. Companhia Tecidos Santanense exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Companhia Tecidos' Risk Adjusted Performance of (0.17), standard deviation of 2.45, and Mean Deviation of 1.8 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.28, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Companhia Tecidos will likely underperform. Companhia Tecidos has an expected return of -0.72%. Please make sure to confirm Companhia Tecidos treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Companhia Tecidos performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.15 |
Insignificant predictability
Companhia Tecidos Santanense has insignificant predictability. Overlapping area represents the amount of predictability between Companhia Tecidos time series from 29th of March 2024 to 13th of April 2024 and 13th of April 2024 to 28th of April 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 Companhia Tecidos price movement. The serial correlation of 0.15 indicates that less than 15.0% of current Companhia Tecidos price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.15 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Companhia Tecidos lagged returns against current returns
Autocorrelation, which is Companhia Tecidos 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 Companhia Tecidos' stock expected returns. We can calculate the autocorrelation of Companhia Tecidos returns to help us make a trade decision. For example, suppose you find that Companhia Tecidos 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 |
Companhia Tecidos 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 Companhia Tecidos stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Companhia Tecidos stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Companhia Tecidos stock over time.
Current vs Lagged Prices |
| Timeline |
Companhia Tecidos Lagged Returns
When evaluating Companhia Tecidos' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Companhia Tecidos stock have on its future price. Companhia Tecidos 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, Companhia Tecidos autocorrelation shows the relationship between Companhia Tecidos stock current value and its past values and can show if there is a momentum factor associated with investing in Companhia Tecidos Santanense.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Companhia Tecidos in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Companhia Tecidos' short interest history, or implied volatility extrapolated from Companhia Tecidos options trading.
Pair Trading with Companhia Tecidos
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 Companhia Tecidos 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 Companhia Tecidos will appreciate offsetting losses from the drop in the long position's value.Moving together with Companhia Stock
| 0.85 | SNEC34 | Sony Group | PairCorr |
Moving against Companhia Stock
| 0.89 | BERK34 | Berkshire Hathaway | PairCorr |
| 0.86 | TMCO34 | Toyota Motor | PairCorr |
| 0.8 | M1UF34 | Mitsubishi UFJ Financial | PairCorr |
| 0.78 | HOND34 | Honda Motor | PairCorr |
| 0.77 | NMRH34 | Nomura Holdings | PairCorr |
The ability to find closely correlated positions to Companhia Tecidos could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Companhia Tecidos 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 Companhia Tecidos - 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 Companhia Tecidos Santanense to buy it.
The correlation of Companhia Tecidos 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 Companhia Tecidos moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Companhia Tecidos 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 Companhia Tecidos 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.Check out Companhia Tecidos Correlation, Companhia Tecidos Volatility and Companhia Tecidos Alpha and Beta module to complement your research on Companhia Tecidos. Note that the Companhia Tecidos information on this page should be used as a complementary analysis to other Companhia Tecidos' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Complementary Tools for Companhia Stock analysis
When running Companhia Tecidos' price analysis, check to measure Companhia Tecidos' 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 Companhia Tecidos is operating at the current time. Most of Companhia Tecidos' value examination focuses on studying past and present price action to predict the probability of Companhia Tecidos' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Companhia Tecidos' price. Additionally, you may evaluate how the addition of Companhia Tecidos to your portfolios can decrease your overall portfolio volatility.
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Companhia Tecidos 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.