EGalaxeMPIA Technology (Taiwan) Market Value
| 3556 Stock | TWD 42.60 0.15 0.35% |
| Symbol | EGalaxeMPIA |
EGalaxeMPIA 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 EGalaxeMPIA 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 EGalaxeMPIA Technology.
| 11/23/2024 |
| 12/23/2024 |
If you would invest 0.00 in EGalaxeMPIA Technology on November 23, 2024 and sell it all today you would earn a total of 0.00 from holding eGalaxeMPIA Technology or generate 0.0% return on investment in EGalaxeMPIA Technology over 30 days. EGalaxeMPIA Technology is related to or competes with Taiwan Semiconductor, MediaTek, United Microelectronics, Novatek Microelectronics, Silergy Corp, GlobalWafers, and Realtek Semiconductor. eGalaxeMPIA Technology Inc. provides touch panel solutions More
EGalaxeMPIA 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 EGalaxeMPIA 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 eGalaxeMPIA Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 5.45 | |||
| Value At Risk | (1.72) | |||
| Potential Upside | 1.2 |
EGalaxeMPIA Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EGalaxeMPIA Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EGalaxeMPIA Technology's standard deviation. In reality, there are many statistical measures that can use EGalaxeMPIA Technology historical prices to predict the future EGalaxeMPIA Technology's volatility.| Risk Adjusted Performance | (0.16) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.22) | |||
| Treynor Ratio | (5.21) |
eGalaxeMPIA Technology Backtested Returns
eGalaxeMPIA Technology secures Sharpe Ratio (or Efficiency) of -0.32, which denotes the company had a -0.32% return per unit of standard deviation over the last 3 months. eGalaxeMPIA Technology exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm EGalaxeMPIA Technology's Mean Deviation of 0.6658, risk adjusted performance of (0.16), and Coefficient Of Variation of (500.86) to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.0368, which means not very significant fluctuations relative to the market. As returns on the market increase, EGalaxeMPIA Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding EGalaxeMPIA Technology is expected to be smaller as well. At this point, eGalaxeMPIA Technology has a negative expected return of -0.26%. Please make sure to confirm EGalaxeMPIA Technology's market risk adjusted performance, coefficient of variation, information ratio, as well as the relationship between the mean deviation and standard deviation , to decide if eGalaxeMPIA Technology performance from the past will be repeated at future time.
Auto-correlation | 0.77 |
Good predictability
eGalaxeMPIA Technology has good predictability. Overlapping area represents the amount of predictability between EGalaxeMPIA Technology time series from 23rd of November 2024 to 8th of December 2024 and 8th of December 2024 to 23rd 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 eGalaxeMPIA Technology price movement. The serial correlation of 0.77 indicates that around 77.0% of current EGalaxeMPIA Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.77 | |
| Spearman Rank Test | 0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 1.35 |
eGalaxeMPIA Technology lagged returns against current returns
Autocorrelation, which is EGalaxeMPIA 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 EGalaxeMPIA Technology's stock expected returns. We can calculate the autocorrelation of EGalaxeMPIA Technology returns to help us make a trade decision. For example, suppose you find that EGalaxeMPIA 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 |
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EGalaxeMPIA 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 EGalaxeMPIA Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EGalaxeMPIA Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EGalaxeMPIA Technology stock over time.
Current vs Lagged Prices |
| Timeline |
EGalaxeMPIA Technology Lagged Returns
When evaluating EGalaxeMPIA Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EGalaxeMPIA Technology stock have on its future price. EGalaxeMPIA 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, EGalaxeMPIA Technology autocorrelation shows the relationship between EGalaxeMPIA Technology stock current value and its past values and can show if there is a momentum factor associated with investing in eGalaxeMPIA Technology.
Regressed Prices |
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Pair Trading with EGalaxeMPIA 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 EGalaxeMPIA 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 EGalaxeMPIA Technology will appreciate offsetting losses from the drop in the long position's value.Moving together with EGalaxeMPIA Stock
Moving against EGalaxeMPIA Stock
| 0.89 | 2891B | CTBC Financial Holding | PairCorr |
| 0.84 | 1231 | Lian Hwa Foods | PairCorr |
| 0.79 | 2379 | Realtek Semiconductor | PairCorr |
| 0.74 | 2454 | MediaTek | PairCorr |
| 0.74 | 3036A | WT Microelectronics | PairCorr |
The ability to find closely correlated positions to EGalaxeMPIA 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 EGalaxeMPIA 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 EGalaxeMPIA 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 eGalaxeMPIA Technology to buy it.
The correlation of EGalaxeMPIA 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 EGalaxeMPIA Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if eGalaxeMPIA 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 EGalaxeMPIA 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 EGalaxeMPIA Stock Analysis
When running EGalaxeMPIA Technology's price analysis, check to measure EGalaxeMPIA 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 EGalaxeMPIA Technology is operating at the current time. Most of EGalaxeMPIA Technology's value examination focuses on studying past and present price action to predict the probability of EGalaxeMPIA 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 EGalaxeMPIA Technology's price. Additionally, you may evaluate how the addition of EGalaxeMPIA Technology to your portfolios can decrease your overall portfolio volatility.