EirGenix (Taiwan) Market Value
| 6589 Stock | TWD 73.50 3.10 4.05% |
| Symbol | EirGenix |
EirGenix '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 EirGenix'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 EirGenix.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in EirGenix on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding EirGenix or generate 0.0% return on investment in EirGenix over 30 days. EirGenix is related to or competes with Ever Clear, Sunny Friend, Lihtai Construction, Mayer Steel, Yieh United, Strong H, and Shieh Yih. EirGenix Inc. operates as a contract development and manufacturing company worldwide More
EirGenix 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 EirGenix'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 EirGenix upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 15.45 | |||
| Value At Risk | (4.05) | |||
| Potential Upside | 2.75 |
EirGenix Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EirGenix's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EirGenix's standard deviation. In reality, there are many statistical measures that can use EirGenix historical prices to predict the future EirGenix's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.52) | |||
| Treynor Ratio | 0.5814 |
EirGenix Backtested Returns
EirGenix secures Sharpe Ratio (or Efficiency) of -0.0665, which denotes the company had a -0.0665% return per unit of risk over the last 3 months. EirGenix exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm EirGenix's Variance of 5.98, mean deviation of 1.64, and Standard Deviation of 2.45 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.3, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning EirGenix are expected to decrease at a much lower rate. During the bear market, EirGenix is likely to outperform the market. At this point, EirGenix has a negative expected return of -0.16%. Please make sure to confirm EirGenix's treynor ratio, potential upside, and the relationship between the total risk alpha and maximum drawdown , to decide if EirGenix performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.49 |
Modest reverse predictability
EirGenix has modest reverse predictability. Overlapping area represents the amount of predictability between EirGenix time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th 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 EirGenix price movement. The serial correlation of -0.49 indicates that about 49.0% of current EirGenix price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.49 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 43.85 |
EirGenix lagged returns against current returns
Autocorrelation, which is EirGenix 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 EirGenix's stock expected returns. We can calculate the autocorrelation of EirGenix returns to help us make a trade decision. For example, suppose you find that EirGenix 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 |
EirGenix 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 EirGenix stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EirGenix stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EirGenix stock over time.
Current vs Lagged Prices |
| Timeline |
EirGenix Lagged Returns
When evaluating EirGenix's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EirGenix stock have on its future price. EirGenix 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, EirGenix autocorrelation shows the relationship between EirGenix stock current value and its past values and can show if there is a momentum factor associated with investing in EirGenix.
Regressed Prices |
| Timeline |
Pair Trading with EirGenix
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 EirGenix 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 EirGenix will appreciate offsetting losses from the drop in the long position's value.Moving against EirGenix Stock
The ability to find closely correlated positions to EirGenix could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EirGenix 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 EirGenix - 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 EirGenix to buy it.
The correlation of EirGenix 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 EirGenix moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EirGenix 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 EirGenix 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 EirGenix Stock Analysis
When running EirGenix's price analysis, check to measure EirGenix'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 EirGenix is operating at the current time. Most of EirGenix's value examination focuses on studying past and present price action to predict the probability of EirGenix's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move EirGenix's price. Additionally, you may evaluate how the addition of EirGenix to your portfolios can decrease your overall portfolio volatility.