MedFirst Healthcare (Taiwan) Market Value
| 4175 Stock | TWD 68.40 0.30 0.44% |
| Symbol | MedFirst |
MedFirst Healthcare '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 MedFirst Healthcare'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 MedFirst Healthcare.
| 08/29/2024 |
| 11/27/2024 |
If you would invest 0.00 in MedFirst Healthcare on August 29, 2024 and sell it all today you would earn a total of 0.00 from holding MedFirst Healthcare Services or generate 0.0% return on investment in MedFirst Healthcare over 90 days. MedFirst Healthcare is related to or competes with YuantaP Shares, Fubon MSCI, YuantaP Shares, and YuantaP Shares. MedFirst Healthcare Services, Inc. engages in the sale of medical care, healthcare, and biotechnology healthcare product... More
MedFirst Healthcare 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 MedFirst Healthcare'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 MedFirst Healthcare Services upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.46) | |||
| Maximum Drawdown | 2.15 | |||
| Value At Risk | (0.72) | |||
| Potential Upside | 0.5658 |
MedFirst Healthcare Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MedFirst Healthcare's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MedFirst Healthcare's standard deviation. In reality, there are many statistical measures that can use MedFirst Healthcare historical prices to predict the future MedFirst Healthcare's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.14) | |||
| Treynor Ratio | (0.47) |
MedFirst Healthcare Backtested Returns
MedFirst Healthcare has Sharpe Ratio of -0.19, which conveys that the firm had a -0.19% return per unit of risk over the last 3 months. MedFirst Healthcare exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify MedFirst Healthcare's Risk Adjusted Performance of (0.12), mean deviation of 0.3249, and Standard Deviation of 0.4239 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.16, which conveys not very significant fluctuations relative to the market. As returns on the market increase, MedFirst Healthcare's returns are expected to increase less than the market. However, during the bear market, the loss of holding MedFirst Healthcare is expected to be smaller as well. At this point, MedFirst Healthcare has a negative expected return of -0.0805%. Please make sure to verify MedFirst Healthcare's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if MedFirst Healthcare performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.57 |
Modest predictability
MedFirst Healthcare Services has modest predictability. Overlapping area represents the amount of predictability between MedFirst Healthcare time series from 29th of August 2024 to 13th of October 2024 and 13th of October 2024 to 27th 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 MedFirst Healthcare price movement. The serial correlation of 0.57 indicates that roughly 57.0% of current MedFirst Healthcare price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.57 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.47 |
MedFirst Healthcare lagged returns against current returns
Autocorrelation, which is MedFirst Healthcare 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 MedFirst Healthcare's stock expected returns. We can calculate the autocorrelation of MedFirst Healthcare returns to help us make a trade decision. For example, suppose you find that MedFirst Healthcare 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 |
MedFirst Healthcare 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 MedFirst Healthcare stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MedFirst Healthcare stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MedFirst Healthcare stock over time.
Current vs Lagged Prices |
| Timeline |
MedFirst Healthcare Lagged Returns
When evaluating MedFirst Healthcare's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MedFirst Healthcare stock have on its future price. MedFirst Healthcare 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, MedFirst Healthcare autocorrelation shows the relationship between MedFirst Healthcare stock current value and its past values and can show if there is a momentum factor associated with investing in MedFirst Healthcare Services.
Regressed Prices |
| Timeline |
Pair Trading with MedFirst Healthcare
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 MedFirst Healthcare 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 MedFirst Healthcare will appreciate offsetting losses from the drop in the long position's value.Moving together with MedFirst Stock
Moving against MedFirst Stock
| 0.87 | 8047 | Great Computer | PairCorr |
| 0.6 | 0050 | YuantaP shares Taiwan | PairCorr |
| 0.57 | 0057 | Fubon MSCI Taiwan | PairCorr |
| 0.46 | 0053 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to MedFirst Healthcare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MedFirst Healthcare 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 MedFirst Healthcare - 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 MedFirst Healthcare Services to buy it.
The correlation of MedFirst Healthcare 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 MedFirst Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MedFirst Healthcare 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 MedFirst Healthcare 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 MedFirst Stock Analysis
When running MedFirst Healthcare's price analysis, check to measure MedFirst Healthcare'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 MedFirst Healthcare is operating at the current time. Most of MedFirst Healthcare's value examination focuses on studying past and present price action to predict the probability of MedFirst Healthcare's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move MedFirst Healthcare's price. Additionally, you may evaluate how the addition of MedFirst Healthcare to your portfolios can decrease your overall portfolio volatility.