Medtecs International (Taiwan) Market Value
| 9103 Stock | TWD 6.32 0.04 0.63% |
| Symbol | Medtecs |
Medtecs International '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 Medtecs International'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 Medtecs International.
| 09/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Medtecs International on September 28, 2024 and sell it all today you would earn a total of 0.00 from holding Medtecs International or generate 0.0% return on investment in Medtecs International over 60 days. Medtecs International is related to or competes with Universal Vision, Excelsior Medical, Delta Asia, Hi Clearance, Pacific Hospital, Brighten Optix, and Medtecs International. Medtecs International Corporation Limited, an integrated healthcare products and services provider, manufactures and dis... More
Medtecs International 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 Medtecs International'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 Medtecs International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.27) | |||
| Maximum Drawdown | 5.01 | |||
| Value At Risk | (1.51) | |||
| Potential Upside | 2.45 |
Medtecs International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Medtecs International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Medtecs International's standard deviation. In reality, there are many statistical measures that can use Medtecs International historical prices to predict the future Medtecs International's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.33) | |||
| Treynor Ratio | (13.80) |
Medtecs International Backtested Returns
Medtecs International has Sharpe Ratio of -0.16, which conveys that the firm had a -0.16% return per unit of risk over the last 3 months. Medtecs International exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Medtecs International's Risk Adjusted Performance of (0.11), standard deviation of 1.06, and Mean Deviation of 0.6976 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.012, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Medtecs International's returns are expected to increase less than the market. However, during the bear market, the loss of holding Medtecs International is expected to be smaller as well. At this point, Medtecs International has a negative expected return of -0.17%. Please make sure to verify Medtecs International's market risk adjusted performance, coefficient of variation, jensen alpha, as well as the relationship between the mean deviation and standard deviation , to decide if Medtecs International performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.82 |
Very good predictability
Medtecs International has very good predictability. Overlapping area represents the amount of predictability between Medtecs International time series from 28th of September 2024 to 28th of October 2024 and 28th 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 Medtecs International price movement. The serial correlation of 0.82 indicates that around 82.0% of current Medtecs International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.82 | |
| Spearman Rank Test | 0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Medtecs International lagged returns against current returns
Autocorrelation, which is Medtecs International 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 Medtecs International's stock expected returns. We can calculate the autocorrelation of Medtecs International returns to help us make a trade decision. For example, suppose you find that Medtecs International 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 |
Medtecs International 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 Medtecs International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Medtecs International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Medtecs International stock over time.
Current vs Lagged Prices |
| Timeline |
Medtecs International Lagged Returns
When evaluating Medtecs International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Medtecs International stock have on its future price. Medtecs International 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, Medtecs International autocorrelation shows the relationship between Medtecs International stock current value and its past values and can show if there is a momentum factor associated with investing in Medtecs International.
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 Medtecs Stock Analysis
When running Medtecs International's price analysis, check to measure Medtecs International'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 Medtecs International is operating at the current time. Most of Medtecs International's value examination focuses on studying past and present price action to predict the probability of Medtecs International's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Medtecs International's price. Additionally, you may evaluate how the addition of Medtecs International to your portfolios can decrease your overall portfolio volatility.