Icares Medicus (Taiwan) Market Value
| 6612 Stock | TWD 116.00 3.00 2.52% |
| Symbol | Icares |
Icares Medicus '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 Icares Medicus' 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 Icares Medicus.
| 12/11/2024 |
| 01/10/2025 |
If you would invest 0.00 in Icares Medicus on December 11, 2024 and sell it all today you would earn a total of 0.00 from holding Icares Medicus or generate 0.0% return on investment in Icares Medicus over 30 days. Icares Medicus is related to or competes with Maxigen Biotech, Chunghwa Chemical, Sinphar Pharmaceutical, ScinoPharm Taiwan, and Apex Biotechnology. ICARES Medicus, Inc. engages in the research and development, manufacture, and sale of ophthalmic medical materials More
Icares Medicus 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 Icares Medicus' 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 Icares Medicus upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 8.71 | |||
| Value At Risk | (3.79) | |||
| Potential Upside | 2.87 |
Icares Medicus Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Icares Medicus' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Icares Medicus' standard deviation. In reality, there are many statistical measures that can use Icares Medicus historical prices to predict the future Icares Medicus' volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (0.36) | |||
| Total Risk Alpha | (0.39) | |||
| Treynor Ratio | (1.35) |
Icares Medicus Backtested Returns
Icares Medicus holds Efficiency (Sharpe) Ratio of -0.13, which attests that the entity had a -0.13% return per unit of risk over the last 3 months. Icares Medicus exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Icares Medicus' Standard Deviation of 1.93, risk adjusted performance of (0.14), and Market Risk Adjusted Performance of (1.34) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.26, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Icares Medicus' returns are expected to increase less than the market. However, during the bear market, the loss of holding Icares Medicus is expected to be smaller as well. At this point, Icares Medicus has a negative expected return of -0.26%. Please make sure to check out Icares Medicus' standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Icares Medicus performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.33 |
Poor reverse predictability
Icares Medicus has poor reverse predictability. Overlapping area represents the amount of predictability between Icares Medicus time series from 11th of December 2024 to 26th of December 2024 and 26th of December 2024 to 10th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Icares Medicus price movement. The serial correlation of -0.33 indicates that nearly 33.0% of current Icares Medicus price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.33 | |
| Spearman Rank Test | -0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 9.05 |
Icares Medicus lagged returns against current returns
Autocorrelation, which is Icares Medicus 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 Icares Medicus' stock expected returns. We can calculate the autocorrelation of Icares Medicus returns to help us make a trade decision. For example, suppose you find that Icares Medicus 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 |
Icares Medicus 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 Icares Medicus stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Icares Medicus stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Icares Medicus stock over time.
Current vs Lagged Prices |
| Timeline |
Icares Medicus Lagged Returns
When evaluating Icares Medicus' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Icares Medicus stock have on its future price. Icares Medicus 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, Icares Medicus autocorrelation shows the relationship between Icares Medicus stock current value and its past values and can show if there is a momentum factor associated with investing in Icares Medicus.
Regressed Prices |
| Timeline |
Pair Trading with Icares Medicus
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 Icares Medicus 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 Icares Medicus will appreciate offsetting losses from the drop in the long position's value.Moving together with Icares Stock
Moving against Icares Stock
| 0.89 | 4111 | Chi Sheng Chemical | PairCorr |
| 0.87 | 2881A | Fubon Financial Holding | PairCorr |
| 0.86 | 2882B | Cathay Financial Holding | PairCorr |
| 0.85 | 5312 | Formosa Optical Tech | PairCorr |
| 0.56 | 9904 | Pou Chen Corp | PairCorr |
The ability to find closely correlated positions to Icares Medicus could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Icares Medicus 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 Icares Medicus - 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 Icares Medicus to buy it.
The correlation of Icares Medicus 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 Icares Medicus moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Icares Medicus 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 Icares Medicus 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 Icares Stock Analysis
When running Icares Medicus' price analysis, check to measure Icares Medicus' 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 Icares Medicus is operating at the current time. Most of Icares Medicus' value examination focuses on studying past and present price action to predict the probability of Icares Medicus' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Icares Medicus' price. Additionally, you may evaluate how the addition of Icares Medicus to your portfolios can decrease your overall portfolio volatility.