Elite Semiconductor (Taiwan) Market Value
| 3006 Stock | TWD 63.70 0.10 0.16% |
| Symbol | Elite |
Elite Semiconductor '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 Elite Semiconductor'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 Elite Semiconductor.
| 12/24/2022 |
| 12/13/2024 |
If you would invest 0.00 in Elite Semiconductor on December 24, 2022 and sell it all today you would earn a total of 0.00 from holding Elite Semiconductor Memory or generate 0.0% return on investment in Elite Semiconductor over 720 days. Elite Semiconductor is related to or competes with AU Optronics, Innolux Corp, Ruentex Development, WiseChip Semiconductor, Novatek Microelectronics, Leader Electronics, and Information Technology. Elite Semiconductor Memory Technology Inc., engages in the design, manufacture, and sale of IC products in Taiwan More
Elite Semiconductor 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 Elite Semiconductor'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 Elite Semiconductor Memory upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 7.31 | |||
| Value At Risk | (2.70) | |||
| Potential Upside | 2.33 |
Elite Semiconductor Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elite Semiconductor's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elite Semiconductor's standard deviation. In reality, there are many statistical measures that can use Elite Semiconductor historical prices to predict the future Elite Semiconductor's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.33) | |||
| Treynor Ratio | (0.15) |
Elite Semiconductor Backtested Returns
Elite Semiconductor secures Sharpe Ratio (or Efficiency) of -0.1, which denotes the company had a -0.1% return per unit of risk over the last 3 months. Elite Semiconductor Memory exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elite Semiconductor's Mean Deviation of 1.3, standard deviation of 1.62, and Variance of 2.62 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.65, which means possible diversification benefits within a given portfolio. As returns on the market increase, Elite Semiconductor's returns are expected to increase less than the market. However, during the bear market, the loss of holding Elite Semiconductor is expected to be smaller as well. At this point, Elite Semiconductor has a negative expected return of -0.17%. Please make sure to confirm Elite Semiconductor's standard deviation, jensen alpha, and the relationship between the coefficient of variation and information ratio , to decide if Elite Semiconductor performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.61 |
Very good reverse predictability
Elite Semiconductor Memory has very good reverse predictability. Overlapping area represents the amount of predictability between Elite Semiconductor time series from 24th of December 2022 to 19th of December 2023 and 19th of December 2023 to 13th 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 Elite Semiconductor price movement. The serial correlation of -0.61 indicates that roughly 61.0% of current Elite Semiconductor price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.61 | |
| Spearman Rank Test | -0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 130.63 |
Elite Semiconductor lagged returns against current returns
Autocorrelation, which is Elite Semiconductor 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 Elite Semiconductor's stock expected returns. We can calculate the autocorrelation of Elite Semiconductor returns to help us make a trade decision. For example, suppose you find that Elite Semiconductor 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 |
Elite Semiconductor 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 Elite Semiconductor stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elite Semiconductor stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elite Semiconductor stock over time.
Current vs Lagged Prices |
| Timeline |
Elite Semiconductor Lagged Returns
When evaluating Elite Semiconductor's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elite Semiconductor stock have on its future price. Elite Semiconductor 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, Elite Semiconductor autocorrelation shows the relationship between Elite Semiconductor stock current value and its past values and can show if there is a momentum factor associated with investing in Elite Semiconductor Memory.
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 Elite Stock Analysis
When running Elite Semiconductor's price analysis, check to measure Elite Semiconductor'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 Elite Semiconductor is operating at the current time. Most of Elite Semiconductor's value examination focuses on studying past and present price action to predict the probability of Elite Semiconductor's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elite Semiconductor's price. Additionally, you may evaluate how the addition of Elite Semiconductor to your portfolios can decrease your overall portfolio volatility.