EMemory Technology (Taiwan) Market Value
| 3529 Stock | TWD 3,275 50.00 1.55% |
| Symbol | EMemory |
EMemory Technology '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 EMemory Technology'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 EMemory Technology.
| 11/14/2024 |
| 12/14/2024 |
If you would invest 0.00 in EMemory Technology on November 14, 2024 and sell it all today you would earn a total of 0.00 from holding eMemory Technology or generate 0.0% return on investment in EMemory Technology over 30 days. EMemory Technology is related to or competes with Nan Ya, Global Unichip, Aspeed Technology, Alchip Technologies, and Unimicron Technology. More
EMemory Technology 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 EMemory Technology'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 eMemory Technology upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.29 | |||
| Information Ratio | 0.1606 | |||
| Maximum Drawdown | 19.85 | |||
| Value At Risk | (4.55) | |||
| Potential Upside | 8.7 |
EMemory Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EMemory Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EMemory Technology's standard deviation. In reality, there are many statistical measures that can use EMemory Technology historical prices to predict the future EMemory Technology's volatility.| Risk Adjusted Performance | 0.1446 | |||
| Jensen Alpha | 0.6452 | |||
| Total Risk Alpha | 0.2209 | |||
| Sortino Ratio | 0.1757 | |||
| Treynor Ratio | 2.64 |
eMemory Technology Backtested Returns
EMemory Technology appears to be very steady, given 3 months investment horizon. eMemory Technology secures Sharpe Ratio (or Efficiency) of 0.17, which denotes the company had a 0.17% return per unit of risk over the last 3 months. By inspecting EMemory Technology's technical indicators, you can evaluate if the expected return of 0.6% is justified by implied risk. Please utilize EMemory Technology's Risk Adjusted Performance of 0.1446, downside deviation of 3.29, and Semi Deviation of 2.5 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, EMemory Technology holds a performance score of 13. The firm shows a Beta (market volatility) of 0.25, which means not very significant fluctuations relative to the market. As returns on the market increase, EMemory Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding EMemory Technology is expected to be smaller as well. Please check EMemory Technology's semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to make a quick decision on whether EMemory Technology's price patterns will revert.
Auto-correlation | -0.3 |
Weak reverse predictability
eMemory Technology has weak reverse predictability. Overlapping area represents the amount of predictability between EMemory Technology time series from 14th of November 2024 to 29th of November 2024 and 29th of November 2024 to 14th 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 eMemory Technology price movement. The serial correlation of -0.3 indicates that nearly 30.0% of current EMemory Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.3 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 17.7 K |
eMemory Technology lagged returns against current returns
Autocorrelation, which is EMemory Technology 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 EMemory Technology's stock expected returns. We can calculate the autocorrelation of EMemory Technology returns to help us make a trade decision. For example, suppose you find that EMemory Technology 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 |
EMemory Technology 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 EMemory Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EMemory Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EMemory Technology stock over time.
Current vs Lagged Prices |
| Timeline |
EMemory Technology Lagged Returns
When evaluating EMemory Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EMemory Technology stock have on its future price. EMemory Technology 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, EMemory Technology autocorrelation shows the relationship between EMemory Technology stock current value and its past values and can show if there is a momentum factor associated with investing in eMemory Technology.
Regressed Prices |
| Timeline |
Pair Trading with EMemory Technology
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 EMemory Technology 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 EMemory Technology will appreciate offsetting losses from the drop in the long position's value.Moving together with EMemory Stock
Moving against EMemory Stock
| 0.72 | 6488 | GlobalWafers | PairCorr |
| 0.71 | 2412 | Chunghwa Telecom | PairCorr |
| 0.58 | 5347 | Vanguard International | PairCorr |
| 0.57 | 2303 | United Microelectronics | PairCorr |
| 0.47 | 6770 | Powerchip Semiconductor | PairCorr |
The ability to find closely correlated positions to EMemory Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EMemory Technology 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 EMemory Technology - 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 eMemory Technology to buy it.
The correlation of EMemory Technology 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 EMemory Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if eMemory Technology 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 EMemory Technology 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 EMemory Stock Analysis
When running EMemory Technology's price analysis, check to measure EMemory Technology'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 EMemory Technology is operating at the current time. Most of EMemory Technology's value examination focuses on studying past and present price action to predict the probability of EMemory Technology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move EMemory Technology's price. Additionally, you may evaluate how the addition of EMemory Technology to your portfolios can decrease your overall portfolio volatility.