Elitegroup Computer (Taiwan) Market Value
| 2331 Stock | TWD 25.05 1.55 6.60% |
| Symbol | Elitegroup |
Elitegroup Computer '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 Elitegroup Computer'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 Elitegroup Computer.
| 05/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Elitegroup Computer on May 27, 2024 and sell it all today you would earn a total of 0.00 from holding Elitegroup Computer Systems or generate 0.0% return on investment in Elitegroup Computer over 180 days. Elitegroup Computer is related to or competes with Novatek Microelectronics, Quanta Computer, and United Microelectronics. ,Ltd. manufactures and supplies various computer products in Taiwan and internationally More
Elitegroup Computer 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 Elitegroup Computer'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 Elitegroup Computer Systems upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 11.3 | |||
| Value At Risk | (2.97) | |||
| Potential Upside | 2.9 |
Elitegroup Computer Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elitegroup Computer's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elitegroup Computer's standard deviation. In reality, there are many statistical measures that can use Elitegroup Computer historical prices to predict the future Elitegroup Computer's volatility.| Risk Adjusted Performance | (0.0005) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.34) | |||
| Treynor Ratio | (0.04) |
Elitegroup Computer Backtested Returns
Elitegroup Computer secures Sharpe Ratio (or Efficiency) of -0.047, which denotes the company had a -0.047% return per unit of risk over the last 3 months. Elitegroup Computer Systems exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elitegroup Computer's Standard Deviation of 1.96, variance of 3.84, and Mean Deviation of 1.41 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.76, which means possible diversification benefits within a given portfolio. As returns on the market increase, Elitegroup Computer's returns are expected to increase less than the market. However, during the bear market, the loss of holding Elitegroup Computer is expected to be smaller as well. At this point, Elitegroup Computer has a negative expected return of -0.0902%. Please make sure to confirm Elitegroup Computer's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Elitegroup Computer performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.40 |
Average predictability
Elitegroup Computer Systems has average predictability. Overlapping area represents the amount of predictability between Elitegroup Computer time series from 27th of May 2024 to 25th of August 2024 and 25th of August 2024 to 23rd 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 Elitegroup Computer price movement. The serial correlation of 0.4 indicates that just about 40.0% of current Elitegroup Computer price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.4 | |
| Spearman Rank Test | 0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 0.75 |
Elitegroup Computer lagged returns against current returns
Autocorrelation, which is Elitegroup Computer 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 Elitegroup Computer's stock expected returns. We can calculate the autocorrelation of Elitegroup Computer returns to help us make a trade decision. For example, suppose you find that Elitegroup Computer 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 |
Elitegroup Computer 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 Elitegroup Computer stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elitegroup Computer stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elitegroup Computer stock over time.
Current vs Lagged Prices |
| Timeline |
Elitegroup Computer Lagged Returns
When evaluating Elitegroup Computer's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elitegroup Computer stock have on its future price. Elitegroup Computer 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, Elitegroup Computer autocorrelation shows the relationship between Elitegroup Computer stock current value and its past values and can show if there is a momentum factor associated with investing in Elitegroup Computer Systems.
Regressed Prices |
| Timeline |
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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.Additional Tools for Elitegroup Stock Analysis
When running Elitegroup Computer's price analysis, check to measure Elitegroup Computer'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 Elitegroup Computer is operating at the current time. Most of Elitegroup Computer's value examination focuses on studying past and present price action to predict the probability of Elitegroup Computer's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elitegroup Computer's price. Additionally, you may evaluate how the addition of Elitegroup Computer to your portfolios can decrease your overall portfolio volatility.