Brite Tech (Malaysia) Market Value
| 0011 Stock | 0.30 0.01 3.23% |
| Symbol | Brite |
Brite Tech '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 Brite Tech'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 Brite Tech.
| 06/25/2024 |
| 12/22/2024 |
If you would invest 0.00 in Brite Tech on June 25, 2024 and sell it all today you would earn a total of 0.00 from holding Brite Tech Bhd or generate 0.0% return on investment in Brite Tech over 180 days. Brite Tech is related to or competes with Uchi Technologies, MI Technovation, CB Industrial, Mercury Industries, MyTech Group, and Binasat Communications. More
Brite Tech 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 Brite Tech'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 Brite Tech Bhd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 6.56 | |||
| Value At Risk | (3.12) | |||
| Potential Upside | 3.23 |
Brite Tech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Brite Tech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Brite Tech's standard deviation. In reality, there are many statistical measures that can use Brite Tech historical prices to predict the future Brite Tech's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.14) | |||
| Treynor Ratio | 1.03 |
Brite Tech Bhd Backtested Returns
Brite Tech Bhd secures Sharpe Ratio (or Efficiency) of -0.0589, which signifies that the company had a -0.0589% return per unit of risk over the last 3 months. Brite Tech Bhd exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Brite Tech's Mean Deviation of 0.8353, risk adjusted performance of (0.04), and Standard Deviation of 1.58 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0924, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Brite Tech are expected to decrease at a much lower rate. During the bear market, Brite Tech is likely to outperform the market. At this point, Brite Tech Bhd has a negative expected return of -0.0882%. Please make sure to confirm Brite Tech's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Brite Tech Bhd performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.18 |
Very weak predictability
Brite Tech Bhd has very weak predictability. Overlapping area represents the amount of predictability between Brite Tech time series from 25th of June 2024 to 23rd of September 2024 and 23rd of September 2024 to 22nd 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 Brite Tech Bhd price movement. The serial correlation of 0.18 indicates that over 18.0% of current Brite Tech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.18 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Brite Tech Bhd lagged returns against current returns
Autocorrelation, which is Brite Tech 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 Brite Tech's stock expected returns. We can calculate the autocorrelation of Brite Tech returns to help us make a trade decision. For example, suppose you find that Brite Tech 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 |
Brite Tech 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 Brite Tech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Brite Tech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Brite Tech stock over time.
Current vs Lagged Prices |
| Timeline |
Brite Tech Lagged Returns
When evaluating Brite Tech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Brite Tech stock have on its future price. Brite Tech 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, Brite Tech autocorrelation shows the relationship between Brite Tech stock current value and its past values and can show if there is a momentum factor associated with investing in Brite Tech Bhd.
Regressed Prices |
| Timeline |
Also Currently Popular
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.Other Information on Investing in Brite Stock
Brite Tech financial ratios help investors to determine whether Brite Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Brite with respect to the benefits of owning Brite Tech security.