Etron Technology (Taiwan) Market Value
| 5351 Stock | TWD 36.75 1.35 3.81% |
| Symbol | Etron |
Etron 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 Etron 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 Etron Technology.
| 07/01/2024 |
| 12/28/2024 |
If you would invest 0.00 in Etron Technology on July 1, 2024 and sell it all today you would earn a total of 0.00 from holding Etron Technology or generate 0.0% return on investment in Etron Technology over 180 days. Etron Technology is related to or competes with Sunplus Technology, Realtek Semiconductor, Winbond Electronics, VIA Technologies, and Silicon Integrated. Etron Technology, Inc. develops buffer memory and system-on-chips in the United States, Europe, Japan, and Asian countri... More
Etron 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 Etron 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 Etron Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 9.22 | |||
| Value At Risk | (3.30) | |||
| Potential Upside | 3.5 |
Etron Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Etron Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Etron Technology's standard deviation. In reality, there are many statistical measures that can use Etron Technology historical prices to predict the future Etron Technology's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.14) | |||
| Treynor Ratio | (3.85) |
Etron Technology Backtested Returns
At this stage we consider Etron Stock to be very steady. Etron Technology secures Sharpe Ratio (or Efficiency) of 4.0E-4, which denotes the company had a 4.0E-4% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Etron Technology, which you can use to evaluate the volatility of the firm. Please confirm Etron Technology's Variance of 5.0, standard deviation of 2.24, and Mean Deviation of 1.75 to check if the risk estimate we provide is consistent with the expected return of 0.001%. The firm shows a Beta (market volatility) of 0.0215, which means not very significant fluctuations relative to the market. As returns on the market increase, Etron Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Etron Technology is expected to be smaller as well. Etron Technology right now shows a risk of 2.31%. Please confirm Etron Technology information ratio, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Etron Technology will be following its price patterns.
Auto-correlation | 0.74 |
Good predictability
Etron Technology has good predictability. Overlapping area represents the amount of predictability between Etron Technology time series from 1st of July 2024 to 29th of September 2024 and 29th of September 2024 to 28th 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 Etron Technology price movement. The serial correlation of 0.74 indicates that around 74.0% of current Etron Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.74 | |
| Spearman Rank Test | 0.74 | |
| Residual Average | 0.0 | |
| Price Variance | 5.85 |
Etron Technology lagged returns against current returns
Autocorrelation, which is Etron 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 Etron Technology's stock expected returns. We can calculate the autocorrelation of Etron Technology returns to help us make a trade decision. For example, suppose you find that Etron 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 |
Etron 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 Etron Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Etron Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Etron Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Etron Technology Lagged Returns
When evaluating Etron Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Etron Technology stock have on its future price. Etron 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, Etron Technology autocorrelation shows the relationship between Etron Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Etron Technology.
Regressed Prices |
| Timeline |
Pair Trading with Etron 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 Etron 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 Etron Technology will appreciate offsetting losses from the drop in the long position's value.Moving together with Etron Stock
| 0.83 | 6239 | Powertech Technology | PairCorr |
| 0.77 | 3532 | Formosa Sumco Technology | PairCorr |
| 0.76 | 3035 | Faraday Technology Corp | PairCorr |
Moving against Etron Stock
| 0.79 | 2881A | Fubon Financial Holding | PairCorr |
| 0.79 | 2891 | CTBC Financial Holding | PairCorr |
| 0.75 | 2885 | Yuanta Financial Holdings | PairCorr |
| 0.72 | 5315 | United Radiant Technology | PairCorr |
| 0.64 | 2882B | Cathay Financial Holding | PairCorr |
The ability to find closely correlated positions to Etron 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 Etron 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 Etron 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 Etron Technology to buy it.
The correlation of Etron 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 Etron Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Etron 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 Etron 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 Etron Stock Analysis
When running Etron Technology's price analysis, check to measure Etron 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 Etron Technology is operating at the current time. Most of Etron Technology's value examination focuses on studying past and present price action to predict the probability of Etron 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 Etron Technology's price. Additionally, you may evaluate how the addition of Etron Technology to your portfolios can decrease your overall portfolio volatility.