Emcore Stock Market Value
| EMKR Stock | USD 2.96 0.04 1.37% |
| Symbol | EMCORE |
EMCORE Price To Book Ratio
Is Communications Equipment space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of EMCORE. If investors know EMCORE will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about EMCORE listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.25) | Earnings Share (7.71) | Revenue Per Share 10.715 | Quarterly Revenue Growth (0.23) | Return On Assets (0.07) |
The market value of EMCORE is measured differently than its book value, which is the value of EMCORE that is recorded on the company's balance sheet. Investors also form their own opinion of EMCORE's value that differs from its market value or its book value, called intrinsic value, which is EMCORE's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because EMCORE's market value can be influenced by many factors that don't directly affect EMCORE's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between EMCORE's value and its price as these two are different measures arrived at by different means. Investors typically determine if EMCORE is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, EMCORE's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
EMCORE '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 EMCORE'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 EMCORE.
| 12/03/2022 |
| 11/22/2024 |
If you would invest 0.00 in EMCORE on December 3, 2022 and sell it all today you would earn a total of 0.00 from holding EMCORE or generate 0.0% return on investment in EMCORE over 720 days. EMCORE is related to or competes with Pixelworks, Valens, CEVA, QuickLogic, Navitas Semiconductor, MagnaChip Semiconductor, and MaxLinear. EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal optics products in the United States,... More
EMCORE 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 EMCORE'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 EMCORE upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.94 | |||
| Information Ratio | 0.1764 | |||
| Maximum Drawdown | 90.34 | |||
| Value At Risk | (6.12) | |||
| Potential Upside | 10.86 |
EMCORE Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EMCORE's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EMCORE's standard deviation. In reality, there are many statistical measures that can use EMCORE historical prices to predict the future EMCORE's volatility.| Risk Adjusted Performance | 0.1513 | |||
| Jensen Alpha | 1.93 | |||
| Total Risk Alpha | 0.6217 | |||
| Sortino Ratio | 0.5089 | |||
| Treynor Ratio | 1.23 |
EMCORE Backtested Returns
EMCORE is extremely dangerous given 3 months investment horizon. EMCORE retains Efficiency (Sharpe Ratio) of 0.18, which denotes the company had a 0.18% return per unit of risk over the last 3 months. We were able to collect data for twenty-eight different technical indicators, which can help you to evaluate if expected returns of 2.03% are justified by taking the suggested risk. Use EMCORE Coefficient Of Variation of 537.43, downside deviation of 3.94, and Market Risk Adjusted Performance of 1.24 to evaluate company specific risk that cannot be diversified away. EMCORE holds a performance score of 13 on a scale of zero to a hundred. The firm owns a Beta (Systematic Risk) of 1.7, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, EMCORE will likely underperform. Use EMCORE maximum drawdown, and the relationship between the information ratio and expected short fall , to analyze future returns on EMCORE.
Auto-correlation | 0.75 |
Good predictability
EMCORE has good predictability. Overlapping area represents the amount of predictability between EMCORE time series from 3rd of December 2022 to 28th of November 2023 and 28th of November 2023 to 22nd 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 EMCORE price movement. The serial correlation of 0.75 indicates that around 75.0% of current EMCORE price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.75 | |
| Spearman Rank Test | 0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 2.65 |
EMCORE lagged returns against current returns
Autocorrelation, which is EMCORE 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 EMCORE's stock expected returns. We can calculate the autocorrelation of EMCORE returns to help us make a trade decision. For example, suppose you find that EMCORE 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 |
EMCORE 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 EMCORE stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EMCORE stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EMCORE stock over time.
Current vs Lagged Prices |
| Timeline |
EMCORE Lagged Returns
When evaluating EMCORE's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EMCORE stock have on its future price. EMCORE 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, EMCORE autocorrelation shows the relationship between EMCORE stock current value and its past values and can show if there is a momentum factor associated with investing in EMCORE.
Regressed Prices |
| Timeline |
Pair Trading with EMCORE
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 EMCORE 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 EMCORE will appreciate offsetting losses from the drop in the long position's value.Moving together with EMCORE Stock
Moving against EMCORE Stock
| 0.81 | ICG | Intchains Group | PairCorr |
| 0.79 | ASYS | Amtech Systems Fiscal Year End 12th of December 2024 | PairCorr |
| 0.76 | ACLS | Axcelis Technologies | PairCorr |
| 0.63 | CDW | CDW Corp | PairCorr |
| 0.62 | TER | Teradyne | PairCorr |
The ability to find closely correlated positions to EMCORE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EMCORE 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 EMCORE - 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 EMCORE to buy it.
The correlation of EMCORE 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 EMCORE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EMCORE 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 EMCORE 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 EMCORE Stock Analysis
When running EMCORE's price analysis, check to measure EMCORE'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 EMCORE is operating at the current time. Most of EMCORE's value examination focuses on studying past and present price action to predict the probability of EMCORE's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move EMCORE's price. Additionally, you may evaluate how the addition of EMCORE to your portfolios can decrease your overall portfolio volatility.