After simplification, the eventual result will be (math available on request): What this means is that the actual volatility of the individual stock is equal to the square of its beta times
the actual volatility of the market portfolio, plus the firm - specific variance.
Not exact matches
Actual results, including with respect to our targets and prospects, could differ materially due to a number
of factors, including the risk that we may not obtain sufficient orders to achieve our targeted revenues; price competition in key
markets; the risk that we or our channel partners are not able to develop and expand customer bases and accurately anticipate demand from end customers, which can result in increased inventory and reduced orders as we experience wide fluctuations in supply and demand; the risk that our commercial Lighting Products results will continue to suffer if new issues arise regarding issues related to product quality for this business; the risk that we may experience production difficulties that preclude us from shipping sufficient quantities to meet customer orders or that result in higher production costs and lower margins; our ability to lower costs; the risk that our results will suffer if we are unable to balance fluctuations in customer demand and capacity, including bringing on additional capacity on a timely basis to meet customer demand; the risk that longer manufacturing lead times may cause customers to fulfill their orders with a competitor's products instead; the risk that the economic and political uncertainty caused by the proposed tariffs by the United States on Chinese goods, and any corresponding Chinese tariffs in response, may negatively impact demand for our products; product mix; risks associated with the ramp - up
of production
of our new products, and our entry into new business channels different from those in which we have historically operated; the risk that customers do not maintain their favorable perception
of our brand and products, resulting in lower demand for our products; the risk that our products fail to perform or fail to meet customer requirements or expectations, resulting in significant additional costs, including costs associated with warranty returns or the potential recall
of our products; ongoing uncertainty in global economic conditions, infrastructure development or customer demand that could negatively affect product demand, collectability
of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments; risks resulting from the concentration
of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the risk that we are not able to enter into acceptable contractual arrangements with the significant customers
of the acquired Infineon RF Power business or otherwise not fully realize anticipated benefits
of the transaction; the risk that retail customers may alter promotional pricing, increase promotion
of a competitor's products over our products or reduce their inventory levels, all
of which could negatively affect product demand; the risk that our investments may experience periods
of significant stock price
volatility causing us to recognize fair value losses on our investment; the risk posed by managing an increasingly complex supply chain that has the ability to supply a sufficient quantity
of raw materials, subsystems and finished products with the required specifications and quality; the risk we may be required to record a significant charge to earnings if our goodwill or amortizable assets become impaired; risks relating to confidential information theft or misuse, including through cyber-attacks or cyber intrusion; our ability to complete development and commercialization
of products under development, such as our pipeline
of Wolfspeed products, improved LED chips, LED components, and LED lighting products risks related to our multi-year warranty periods for LED lighting products; risks associated with acquisitions, divestitures, joint ventures or investments generally; the rapid development
of new technology and competing products that may impair demand or render our products obsolete; the potential lack
of customer acceptance for our products; risks associated with ongoing litigation; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10 - K for the fiscal year ended June 25, 2017, and subsequent reports filed with the SEC.
To the extent that there is informational content in the price behavior
of stocks, however, we are more likely to see it expressed in the
volatility of the
markets than in its
actual price level.
Important factors that may affect the Company's business and operations and that may cause
actual results to differ materially from those in the forward - looking statements include, but are not limited to, increased competition; the Company's ability to maintain, extend and expand its reputation and brand image; the Company's ability to differentiate its products from other brands; the consolidation
of retail customers; the Company's ability to predict, identify and interpret changes in consumer preferences and demand; the Company's ability to drive revenue growth in its key product categories, increase its
market share, or add products; an impairment
of the carrying value
of goodwill or other indefinite - lived intangible assets;
volatility in commodity, energy and other input costs; changes in the Company's management team or other key personnel; the Company's inability to realize the anticipated benefits from the Company's cost savings initiatives; changes in relationships with significant customers and suppliers; execution
of the Company's international expansion strategy; changes in laws and regulations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; failure to successfully integrate the Company; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures; economic and political conditions in the nations in which the Company operates; the
volatility of capital
markets; increased pension, labor and people - related expenses;
volatility in the
market value
of all or a portion
of the derivatives that the Company uses; exchange rate fluctuations; disruptions in information technology networks and systems; the Company's inability to protect intellectual property rights; impacts
of natural events in the locations in which the Company or its customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; the Company's dividend payments on its Series A Preferred Stock; tax law changes or interpretations; pricing actions; and other factors.
We caution you that these statements are not guarantees
of future performance and are subject to numerous risks and uncertainties, including
volatility in the economy and the credit
markets, supply and demand changes for vacation ownership and residential products, competitive conditions; the availability
of capital to finance growth, and other matters referred to under the heading «Risk Factors» contained in our Annual Report on 10 - K for the year ended December 30, 2011 filed with the U.S. Securities and Exchange Commission (the «SEC») and in subsequent SEC filings, any
of which could cause
actual results to differ materially from those expressed in or implied in this presentation.
Important factors that may affect the Company's business and operations and that may cause
actual results to differ materially from those in the forward - looking statements include, but are not limited to, operating in a highly competitive industry; changes in the retail landscape or the loss
of key retail customers; the Company's ability to maintain, extend and expand its reputation and brand image; the impacts
of the Company's international operations; the Company's ability to leverage its brand value; the Company's ability to predict, identify and interpret changes in consumer preferences and demand; the Company's ability to drive revenue growth in its key product categories, increase its
market share, or add products; an impairment
of the carrying value
of goodwill or other indefinite - lived intangible assets;
volatility in commodity, energy and other input costs; changes in the Company's management team or other key personnel; the Company's ability to realize the anticipated benefits from its cost savings initiatives; changes in relationships with significant customers and suppliers; the execution
of the Company's international expansion strategy; tax law changes or interpretations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures; economic and political conditions in the United States and in various other nations in which we operate; the
volatility of capital
markets; increased pension, labor and people - related expenses;
volatility in the
market value
of all or a portion
of the derivatives we use; exchange rate fluctuations; risks associated with information technology and systems, including service interruptions, misappropriation
of data or breaches
of security; the Company's ability to protect intellectual property rights; impacts
of natural events in the locations in which we or the Company's customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; the Company's ownership structure; the impact
of future sales
of its common stock in the public
markets; the Company's ability to continue to pay a regular dividend; changes in laws and regulations; restatements
of the Company's consolidated financial statements; and other factors.
Important factors that may affect the Company's business and operations and that may cause
actual results to differ materially from those in the forward - looking statements include, but are not limited to, increased competition; the Company's ability to maintain, extend and expand its reputation and brand image; the Company's ability to differentiate its products from other brands; the consolidation
of retail customers; the Company's ability to predict, identify and interpret changes in consumer preferences and demand; the Company's ability to drive revenue growth in its key product categories, increase its
market share or add products; an impairment
of the carrying value
of goodwill or other indefinite - lived intangible assets;
volatility in commodity, energy and other input costs; changes in the Company's management team or other key personnel; the Company's inability to realize the anticipated benefits from the Company's cost savings initiatives; changes in relationships with significant customers and suppliers; execution
of the Company's international expansion strategy; changes in laws and regulations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; failure to successfully integrate the business and operations
of the Company in the expected time frame; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures; economic and political conditions in the nations in which the Company operates; the
volatility of capital
markets; increased pension, labor and people - related expenses;
volatility in the
market value
of all or a portion
of the derivatives that the Company uses; exchange rate fluctuations; risks associated with information technology and systems, including service interruptions, misappropriation
of data or breaches
of security; the Company's inability to protect intellectual property rights; impacts
of natural events in the locations in which the Company or its customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; tax law changes or interpretations; and other factors.
In their October 2009 paper entitled «Risk Sentiment Index (RSI) and
Market Anomalies», Guy Kaplanski and Haim Levy introduce the Risk Sentiment Index (RSI) as a measure of the residual risk contained in VIX after accounting for the statistical and economic variables most predictive of future stock market volatility (such as previous month actual volatility and
Market Anomalies», Guy Kaplanski and Haim Levy introduce the Risk Sentiment Index (RSI) as a measure
of the residual risk contained in VIX after accounting for the statistical and economic variables most predictive
of future stock
market volatility (such as previous month actual volatility and
market volatility (such as previous month
actual volatility and VIX).
The extreme
volatility swamping
markets over the past 10 days has more to do with the future risks perceived by professional traders than with
actual performance
of a growing economy.
The implied
volatility in options is fairly low here, but to the extent that
actual market volatility comes in even lower, we would lose some portion
of that 2 % through time decay that we could not recover through active management
of the position.
«The
actual raising
of policy rates could trigger further bouts
of volatility, but my best estimate is that the normalization
of our policy should prove manageable for the emerging
market economies,» he added.
We caution you that these statements are not guarantees
of future performance and are subject to numerous risks and uncertainties, including
volatility in the economy and the credit
markets, supply and demand changes for vacation ownership and residential products, competitive conditions; the availability
of capital to finance growth, and other matters referred to under the heading «Risk Factors» contained in the Information Statement filed as an exhibit to our Annual Report on Form 10 - K for the year ended December 30, 2011 filed with the U.S. Securities and Exchange Commission (the «SEC») and in subsequent SEC filings, any
of which could cause
actual results to differ materially from those expressed in or implied in this presentation.
The company cautions you that these statements are not guarantees
of future performance and are subject to numerous risks and uncertainties, including
volatility in the economy and the credit
markets, supply and demand changes for vacation ownership and residential products, competitive conditions; the availability
of capital to finance growth, and other matters referred to under the heading «Risk Factors» contained in the company's most recent Annual Report on Form 10 - K filed with the U.S Securities and Exchange Commission (the «SEC») and in subsequent SEC filings, any
of which could cause
actual results to differ materially from those expressed in or implied in this press release.
This is hypothesized to happen for many different reasons, including a decline in the competitiveness
of other economic sectors (caused by appreciation
of the real exchange rate as resource revenues enter an economy, a phenomenon known as Dutch disease),
volatility of revenues from the natural resource sector due to exposure to global commodity
market swings, government mismanagement
of resources, or weak, ineffectual, unstable or corrupt institutions (possibly due to the easily diverted
actual or anticipated revenue stream from extractive activities).
Once enough players pursue the idea, the excess returns will vanish, leaving behind a
market with more
actual volatility for the rest
of us to navigate.
Shifts in
volatility can also create changes in the
market and tend to create more challenges in determining how to trade a system that the
actual direction
of the
market.
Breakout trading strategy is very appealing to the forex traders as there is a lot
of volatility in the
market and many chances
of breakouts, both
actual and fake.
As a result, shares
of an exchange - traded fund may trade at a premium or discount to the fund's
actual net asset value, particularly during periods
of market volatility.
10) When
actual stock price
volatility gets high, that is typically a sign
of a bear
market.
The implied
volatility in options is fairly low here, but to the extent that
actual market volatility comes in even lower, we would lose some portion
of that 2 % through time decay that we could not recover through active management
of the position.
However the guaranteed amount is less than the
actual value but if you want to escape from the
volatility of market this is a safe investment.