MyTech Group (Malaysia) Market Value
| 7692 Stock | 0.38 0.03 7.32% |
| Symbol | MyTech |
MyTech Group '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 MyTech Group'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 MyTech Group.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in MyTech Group on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding MyTech Group Bhd or generate 0.0% return on investment in MyTech Group over 30 days. MyTech Group is related to or competes with Senheng New, Melewar Industrial, Choo Bee, Computer Forms, Datasonic Group, and K One. More
MyTech Group 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 MyTech Group'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 MyTech Group Bhd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 21.38 | |||
| Value At Risk | (6.67) | |||
| Potential Upside | 4.55 |
MyTech Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MyTech Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MyTech Group's standard deviation. In reality, there are many statistical measures that can use MyTech Group historical prices to predict the future MyTech Group's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.1) | |||
| Total Risk Alpha | (0.76) | |||
| Treynor Ratio | 0.237 |
MyTech Group Bhd Backtested Returns
MyTech Group Bhd has Sharpe Ratio of -0.0744, which conveys that the firm had a -0.0744% return per unit of standard deviation over the last 3 months. MyTech Group exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify MyTech Group's Mean Deviation of 1.72, market risk adjusted performance of 0.247, and Risk Adjusted Performance of (0.04) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.9, which conveys possible diversification benefits within a given portfolio. As the market becomes more bullish, returns on owning MyTech Group are expected to decrease slowly. On the other hand, during market turmoil, MyTech Group is expected to outperform it slightly. At this point, MyTech Group Bhd has a negative expected return of -0.25%. Please make sure to verify MyTech Group's treynor ratio, potential upside, and the relationship between the total risk alpha and maximum drawdown , to decide if MyTech Group Bhd performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.29 |
Poor predictability
MyTech Group Bhd has poor predictability. Overlapping area represents the amount of predictability between MyTech Group time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th of November 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 MyTech Group Bhd price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current MyTech Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | -0.53 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
MyTech Group Bhd lagged returns against current returns
Autocorrelation, which is MyTech Group 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 MyTech Group's stock expected returns. We can calculate the autocorrelation of MyTech Group returns to help us make a trade decision. For example, suppose you find that MyTech Group 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 |
MyTech Group 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 MyTech Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MyTech Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MyTech Group stock over time.
Current vs Lagged Prices |
| Timeline |
MyTech Group Lagged Returns
When evaluating MyTech Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MyTech Group stock have on its future price. MyTech Group 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, MyTech Group autocorrelation shows the relationship between MyTech Group stock current value and its past values and can show if there is a momentum factor associated with investing in MyTech Group Bhd.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in MyTech Stock
MyTech Group financial ratios help investors to determine whether MyTech Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in MyTech with respect to the benefits of owning MyTech Group security.