Easywell Biomedicals (Taiwan) Market Value
| 1799 Stock | TWD 67.80 1.20 1.80% |
| Symbol | Easywell |
Easywell Biomedicals '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 Easywell Biomedicals' 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 Easywell Biomedicals.
| 12/10/2023 |
| 12/04/2024 |
If you would invest 0.00 in Easywell Biomedicals on December 10, 2023 and sell it all today you would earn a total of 0.00 from holding Easywell Biomedicals or generate 0.0% return on investment in Easywell Biomedicals over 360 days. Easywell Biomedicals is related to or competes with Alchip Technologies, Genovate Biotechnology, STL Technology, TMP Steel, Sheng Yu, Materials Analysis, and China Steel. Easywell Biomedicals, Inc., a biopharmaceutical and medical device company, develops and commercializes medical devices,... More
Easywell Biomedicals 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 Easywell Biomedicals' 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 Easywell Biomedicals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.36) | |||
| Maximum Drawdown | 19.47 | |||
| Value At Risk | (9.84) | |||
| Potential Upside | 7.81 |
Easywell Biomedicals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Easywell Biomedicals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Easywell Biomedicals' standard deviation. In reality, there are many statistical measures that can use Easywell Biomedicals historical prices to predict the future Easywell Biomedicals' volatility.| Risk Adjusted Performance | (0.25) | |||
| Jensen Alpha | (1.70) | |||
| Total Risk Alpha | (2.29) | |||
| Treynor Ratio | (2.56) |
Easywell Biomedicals Backtested Returns
Easywell Biomedicals secures Sharpe Ratio (or Efficiency) of -0.33, which denotes the company had a -0.33% return per unit of risk over the last 3 months. Easywell Biomedicals exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Easywell Biomedicals' Standard Deviation of 4.83, variance of 23.32, and Mean Deviation of 3.78 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.64, which means possible diversification benefits within a given portfolio. As returns on the market increase, Easywell Biomedicals' returns are expected to increase less than the market. However, during the bear market, the loss of holding Easywell Biomedicals is expected to be smaller as well. At this point, Easywell Biomedicals has a negative expected return of -1.63%. Please make sure to confirm Easywell Biomedicals' jensen alpha, treynor ratio, value at risk, as well as the relationship between the total risk alpha and maximum drawdown , to decide if Easywell Biomedicals performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.41 |
Modest reverse predictability
Easywell Biomedicals has modest reverse predictability. Overlapping area represents the amount of predictability between Easywell Biomedicals time series from 10th of December 2023 to 7th of June 2024 and 7th of June 2024 to 4th 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 Easywell Biomedicals price movement. The serial correlation of -0.41 indicates that just about 41.0% of current Easywell Biomedicals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.41 | |
| Spearman Rank Test | -0.33 | |
| Residual Average | 0.0 | |
| Price Variance | 2199.37 |
Easywell Biomedicals lagged returns against current returns
Autocorrelation, which is Easywell Biomedicals 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 Easywell Biomedicals' stock expected returns. We can calculate the autocorrelation of Easywell Biomedicals returns to help us make a trade decision. For example, suppose you find that Easywell Biomedicals 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 |
Easywell Biomedicals 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 Easywell Biomedicals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Easywell Biomedicals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Easywell Biomedicals stock over time.
Current vs Lagged Prices |
| Timeline |
Easywell Biomedicals Lagged Returns
When evaluating Easywell Biomedicals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Easywell Biomedicals stock have on its future price. Easywell Biomedicals 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, Easywell Biomedicals autocorrelation shows the relationship between Easywell Biomedicals stock current value and its past values and can show if there is a momentum factor associated with investing in Easywell Biomedicals.
Regressed Prices |
| Timeline |
Pair Trading with Easywell Biomedicals
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 Easywell Biomedicals 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 Easywell Biomedicals will appreciate offsetting losses from the drop in the long position's value.Moving against Easywell Stock
| 0.87 | 1432 | Trk Corp | PairCorr |
| 0.85 | 3545 | FocalTech Systems | PairCorr |
| 0.84 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.81 | 2609 | Yang Ming Marine | PairCorr |
| 0.77 | 0050 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to Easywell Biomedicals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Easywell Biomedicals 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 Easywell Biomedicals - 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 Easywell Biomedicals to buy it.
The correlation of Easywell Biomedicals 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 Easywell Biomedicals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Easywell Biomedicals 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 Easywell Biomedicals 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 Easywell Stock Analysis
When running Easywell Biomedicals' price analysis, check to measure Easywell Biomedicals' 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 Easywell Biomedicals is operating at the current time. Most of Easywell Biomedicals' value examination focuses on studying past and present price action to predict the probability of Easywell Biomedicals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Easywell Biomedicals' price. Additionally, you may evaluate how the addition of Easywell Biomedicals to your portfolios can decrease your overall portfolio volatility.