BRIM Biotechnology (Taiwan) Market Value
| 6885 Stock | 41.75 1.70 4.24% |
| Symbol | BRIM |
BRIM Biotechnology '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 BRIM Biotechnology'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 BRIM Biotechnology.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in BRIM Biotechnology on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding BRIM Biotechnology or generate 0.0% return on investment in BRIM Biotechnology over 720 days.
BRIM Biotechnology 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 BRIM Biotechnology'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 BRIM Biotechnology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 7.29 | |||
| Value At Risk | (2.38) | |||
| Potential Upside | 2.56 |
BRIM Biotechnology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BRIM Biotechnology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BRIM Biotechnology's standard deviation. In reality, there are many statistical measures that can use BRIM Biotechnology historical prices to predict the future BRIM Biotechnology's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | 1.12 |
BRIM Biotechnology Backtested Returns
BRIM Biotechnology secures Sharpe Ratio (or Efficiency) of -0.14, which signifies that the company had a -0.14% return per unit of return volatility over the last 3 months. BRIM Biotechnology exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BRIM Biotechnology's Risk Adjusted Performance of (0.09), mean deviation of 1.1, and Coefficient Of Variation of (827.69) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.17, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning BRIM Biotechnology are expected to decrease at a much lower rate. During the bear market, BRIM Biotechnology is likely to outperform the market. At this point, BRIM Biotechnology has a negative expected return of -0.21%. Please make sure to confirm BRIM Biotechnology's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if BRIM Biotechnology performance from the past will be repeated in the future.
Auto-correlation | -0.3 |
Weak reverse predictability
BRIM Biotechnology has weak reverse predictability. Overlapping area represents the amount of predictability between BRIM Biotechnology time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 BRIM Biotechnology price movement. The serial correlation of -0.3 indicates that nearly 30.0% of current BRIM Biotechnology price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.3 | |
| Spearman Rank Test | 0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 104.56 |
BRIM Biotechnology lagged returns against current returns
Autocorrelation, which is BRIM Biotechnology 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 BRIM Biotechnology's stock expected returns. We can calculate the autocorrelation of BRIM Biotechnology returns to help us make a trade decision. For example, suppose you find that BRIM Biotechnology 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 |
BRIM Biotechnology 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 BRIM Biotechnology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BRIM Biotechnology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BRIM Biotechnology stock over time.
Current vs Lagged Prices |
| Timeline |
BRIM Biotechnology Lagged Returns
When evaluating BRIM Biotechnology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BRIM Biotechnology stock have on its future price. BRIM Biotechnology 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, BRIM Biotechnology autocorrelation shows the relationship between BRIM Biotechnology stock current value and its past values and can show if there is a momentum factor associated with investing in BRIM Biotechnology.
Regressed Prices |
| Timeline |
Pair Trading with BRIM Biotechnology
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 BRIM Biotechnology 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 BRIM Biotechnology will appreciate offsetting losses from the drop in the long position's value.Moving together with BRIM Stock
Moving against BRIM Stock
| 0.75 | 2330 | Taiwan Semiconductor | PairCorr |
| 0.75 | 2317 | Hon Hai Precision | PairCorr |
| 0.73 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.72 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.71 | 2454 | MediaTek | PairCorr |
The ability to find closely correlated positions to BRIM Biotechnology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BRIM Biotechnology 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 BRIM Biotechnology - 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 BRIM Biotechnology to buy it.
The correlation of BRIM Biotechnology 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 BRIM Biotechnology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BRIM Biotechnology 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 BRIM Biotechnology 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 BRIM Stock Analysis
When running BRIM Biotechnology's price analysis, check to measure BRIM Biotechnology'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 BRIM Biotechnology is operating at the current time. Most of BRIM Biotechnology's value examination focuses on studying past and present price action to predict the probability of BRIM Biotechnology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move BRIM Biotechnology's price. Additionally, you may evaluate how the addition of BRIM Biotechnology to your portfolios can decrease your overall portfolio volatility.