Egis Technology (Taiwan) Market Value
| 6462 Stock | TWD 179.00 7.00 4.07% |
| Symbol | Egis |
Egis Technology '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 Egis Technology'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 Egis Technology.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Egis Technology on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Egis Technology or generate 0.0% return on investment in Egis Technology over 30 days. Egis Technology is related to or competes with WIN Semiconductors, Aspeed Technology, LARGAN Precision, Novatek Microelectronics, and GlobalWafers. More
Egis Technology 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 Egis Technology'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 Egis Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 9.57 | |||
| Value At Risk | (4.29) | |||
| Potential Upside | 3.4 |
Egis Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Egis Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Egis Technology's standard deviation. In reality, there are many statistical measures that can use Egis Technology historical prices to predict the future Egis Technology's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.51) | |||
| Total Risk Alpha | (0.81) | |||
| Treynor Ratio | (0.59) |
Egis Technology Backtested Returns
Egis Technology secures Sharpe Ratio (or Efficiency) of -0.18, which denotes the company had a -0.18% return per unit of risk over the last 3 months. Egis Technology exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Egis Technology's Variance of 5.69, mean deviation of 1.86, and Standard Deviation of 2.38 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.71, which means possible diversification benefits within a given portfolio. As returns on the market increase, Egis Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Egis Technology is expected to be smaller as well. At this point, Egis Technology has a negative expected return of -0.42%. Please make sure to confirm Egis Technology's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Egis Technology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.12 |
Insignificant predictability
Egis Technology has insignificant predictability. Overlapping area represents the amount of predictability between Egis Technology time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 Egis Technology price movement. The serial correlation of 0.12 indicates that less than 12.0% of current Egis Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | -0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 7.09 |
Egis Technology lagged returns against current returns
Autocorrelation, which is Egis Technology 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 Egis Technology's stock expected returns. We can calculate the autocorrelation of Egis Technology returns to help us make a trade decision. For example, suppose you find that Egis Technology 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 |
Egis Technology 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 Egis Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Egis Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Egis Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Egis Technology Lagged Returns
When evaluating Egis Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Egis Technology stock have on its future price. Egis Technology 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, Egis Technology autocorrelation shows the relationship between Egis Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Egis Technology.
Regressed Prices |
| Timeline |
Pair Trading with Egis Technology
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 Egis Technology 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 Egis Technology will appreciate offsetting losses from the drop in the long position's value.Moving together with Egis Stock
Moving against Egis Stock
| 0.82 | 3702A | WPG Holdings | PairCorr |
| 0.8 | 2324 | Compal Electronics | PairCorr |
| 0.71 | 2882B | Cathay Financial Holding | PairCorr |
| 0.7 | 3231 | Wistron Corp | PairCorr |
| 0.54 | 2317 | Hon Hai Precision | PairCorr |
The ability to find closely correlated positions to Egis Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Egis Technology 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 Egis Technology - 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 Egis Technology to buy it.
The correlation of Egis Technology 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 Egis Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Egis Technology 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 Egis Technology 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 Egis Stock Analysis
When running Egis Technology's price analysis, check to measure Egis Technology'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 Egis Technology is operating at the current time. Most of Egis Technology's value examination focuses on studying past and present price action to predict the probability of Egis Technology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Egis Technology's price. Additionally, you may evaluate how the addition of Egis Technology to your portfolios can decrease your overall portfolio volatility.