Elan Microelectronics (Taiwan) Market Value
| 2458 Stock | TWD 148.00 0.50 0.34% |
| Symbol | Elan |
Elan Microelectronics '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 Elan Microelectronics' 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 Elan Microelectronics.
| 06/04/2023 |
| 11/25/2024 |
If you would invest 0.00 in Elan Microelectronics on June 4, 2023 and sell it all today you would earn a total of 0.00 from holding Elan Microelectronics Corp or generate 0.0% return on investment in Elan Microelectronics over 540 days. Elan Microelectronics is related to or competes with Realtek Semiconductor, Novatek Microelectronics, King Yuan, Sunplus Technology, and Nanya Technology. ELAN Microelectronics Corporation researches and develops integrated circuits , and provides touchpad module solutions i... More
Elan Microelectronics 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 Elan Microelectronics' 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 Elan Microelectronics Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.18 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 8.92 | |||
| Value At Risk | (2.95) | |||
| Potential Upside | 2.75 |
Elan Microelectronics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elan Microelectronics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elan Microelectronics' standard deviation. In reality, there are many statistical measures that can use Elan Microelectronics historical prices to predict the future Elan Microelectronics' volatility.| Risk Adjusted Performance | 0.0432 | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.21) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.0861 |
Elan Microelectronics Backtested Returns
At this stage we consider Elan Stock to be very steady. Elan Microelectronics secures Sharpe Ratio (or Efficiency) of 0.0293, which denotes the company had a 0.0293% return per unit of standard deviation over the last 3 months. We have found thirty technical indicators for Elan Microelectronics Corp, which you can use to evaluate the volatility of the firm. Please confirm Elan Microelectronics' Mean Deviation of 1.34, downside deviation of 2.18, and Semi Deviation of 1.78 to check if the risk estimate we provide is consistent with the expected return of 0.0557%. Elan Microelectronics has a performance score of 2 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.94, which means possible diversification benefits within a given portfolio. Elan Microelectronics returns are very sensitive to returns on the market. As the market goes up or down, Elan Microelectronics is expected to follow. Elan Microelectronics right now shows a risk of 1.9%. Please confirm Elan Microelectronics market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to decide if Elan Microelectronics will be following its price patterns.
Auto-correlation | -0.73 |
Almost perfect reverse predictability
Elan Microelectronics Corp has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Elan Microelectronics time series from 4th of June 2023 to 29th of February 2024 and 29th of February 2024 to 25th 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 Elan Microelectronics price movement. The serial correlation of -0.73 indicates that around 73.0% of current Elan Microelectronics price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.73 | |
| Spearman Rank Test | -0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 91.49 |
Elan Microelectronics lagged returns against current returns
Autocorrelation, which is Elan Microelectronics 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 Elan Microelectronics' stock expected returns. We can calculate the autocorrelation of Elan Microelectronics returns to help us make a trade decision. For example, suppose you find that Elan Microelectronics 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 |
Elan Microelectronics 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 Elan Microelectronics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elan Microelectronics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elan Microelectronics stock over time.
Current vs Lagged Prices |
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Elan Microelectronics Lagged Returns
When evaluating Elan Microelectronics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elan Microelectronics stock have on its future price. Elan Microelectronics 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, Elan Microelectronics autocorrelation shows the relationship between Elan Microelectronics stock current value and its past values and can show if there is a momentum factor associated with investing in Elan Microelectronics Corp.
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 Elan Stock Analysis
When running Elan Microelectronics' price analysis, check to measure Elan Microelectronics' 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 Elan Microelectronics is operating at the current time. Most of Elan Microelectronics' value examination focuses on studying past and present price action to predict the probability of Elan Microelectronics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elan Microelectronics' price. Additionally, you may evaluate how the addition of Elan Microelectronics to your portfolios can decrease your overall portfolio volatility.