Etrend Hightech (Taiwan) Market Value
| 3567 Stock | TWD 30.95 0.60 1.90% |
| Symbol | Etrend |
Etrend Hightech '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 Etrend Hightech'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 Etrend Hightech.
| 12/28/2022 |
| 12/17/2024 |
If you would invest 0.00 in Etrend Hightech on December 28, 2022 and sell it all today you would earn a total of 0.00 from holding Etrend Hightech or generate 0.0% return on investment in Etrend Hightech over 720 days. Etrend Hightech is related to or competes with WIN Semiconductors, GlobalWafers, Novatek Microelectronics, Ruentex Development, WiseChip Semiconductor, Leader Electronics, and Information Technology. ETREND Hightech Corp. provides analog and mixed-signal IC testing services in Taiwan More
Etrend Hightech 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 Etrend Hightech'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 Etrend Hightech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 4.63 | |||
| Value At Risk | (1.90) | |||
| Potential Upside | 1.8 |
Etrend Hightech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Etrend Hightech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Etrend Hightech's standard deviation. In reality, there are many statistical measures that can use Etrend Hightech historical prices to predict the future Etrend Hightech's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.26) | |||
| Treynor Ratio | (1.93) |
Etrend Hightech Backtested Returns
Etrend Hightech secures Sharpe Ratio (or Efficiency) of -0.13, which denotes the company had a -0.13% return per unit of risk over the last 3 months. Etrend Hightech exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Etrend Hightech's Mean Deviation of 0.8223, variance of 1.15, and Standard Deviation of 1.07 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.0759, which means not very significant fluctuations relative to the market. As returns on the market increase, Etrend Hightech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Etrend Hightech is expected to be smaller as well. At this point, Etrend Hightech has a negative expected return of -0.15%. Please make sure to confirm Etrend Hightech's information ratio, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Etrend Hightech performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.91 |
Near perfect reversele predictability
Etrend Hightech has near perfect reversele predictability. Overlapping area represents the amount of predictability between Etrend Hightech time series from 28th of December 2022 to 23rd of December 2023 and 23rd of December 2023 to 17th 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 Etrend Hightech price movement. The serial correlation of -0.91 indicates that approximately 91.0% of current Etrend Hightech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.91 | |
| Spearman Rank Test | -0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 16.45 |
Etrend Hightech lagged returns against current returns
Autocorrelation, which is Etrend Hightech 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 Etrend Hightech's stock expected returns. We can calculate the autocorrelation of Etrend Hightech returns to help us make a trade decision. For example, suppose you find that Etrend Hightech 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 |
Etrend Hightech 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 Etrend Hightech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Etrend Hightech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Etrend Hightech stock over time.
Current vs Lagged Prices |
| Timeline |
Etrend Hightech Lagged Returns
When evaluating Etrend Hightech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Etrend Hightech stock have on its future price. Etrend Hightech 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, Etrend Hightech autocorrelation shows the relationship between Etrend Hightech stock current value and its past values and can show if there is a momentum factor associated with investing in Etrend Hightech.
Regressed Prices |
| Timeline |
Pair Trading with Etrend Hightech
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 Etrend Hightech 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 Etrend Hightech will appreciate offsetting losses from the drop in the long position's value.Moving together with Etrend Stock
Moving against Etrend Stock
| 0.57 | 2454 | MediaTek | PairCorr |
| 0.54 | 2609 | Yang Ming Marine | PairCorr |
| 0.49 | 3443 | Global Unichip Corp | PairCorr |
| 0.48 | 2603 | Evergreen Marine Corp | PairCorr |
| 0.44 | 2379 | Realtek Semiconductor | PairCorr |
The ability to find closely correlated positions to Etrend Hightech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Etrend Hightech 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 Etrend Hightech - 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 Etrend Hightech to buy it.
The correlation of Etrend Hightech 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 Etrend Hightech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Etrend Hightech 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 Etrend Hightech 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 Etrend Stock Analysis
When running Etrend Hightech's price analysis, check to measure Etrend Hightech'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 Etrend Hightech is operating at the current time. Most of Etrend Hightech's value examination focuses on studying past and present price action to predict the probability of Etrend Hightech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Etrend Hightech's price. Additionally, you may evaluate how the addition of Etrend Hightech to your portfolios can decrease your overall portfolio volatility.