MetaTech (Taiwan) Market Value
| 3224 Stock | TWD 51.40 0.90 1.78% |
| Symbol | MetaTech |
MetaTech '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 MetaTech'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 MetaTech.
| 11/19/2024 |
| 12/19/2024 |
If you would invest 0.00 in MetaTech on November 19, 2024 and sell it all today you would earn a total of 0.00 from holding MetaTech AP or generate 0.0% return on investment in MetaTech over 30 days. MetaTech is related to or competes with Niching Industrial, Dimension Computer, Kworld Computer, Ruentex Development, Symtek Automation, WiseChip Semiconductor, and Novatek Microelectronics. More
MetaTech 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 MetaTech'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 MetaTech AP upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.73 | |||
| Information Ratio | 0.0093 | |||
| Maximum Drawdown | 7.47 | |||
| Value At Risk | (2.00) | |||
| Potential Upside | 2.13 |
MetaTech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MetaTech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MetaTech's standard deviation. In reality, there are many statistical measures that can use MetaTech historical prices to predict the future MetaTech's volatility.| Risk Adjusted Performance | 0.0274 | |||
| Jensen Alpha | 0.0282 | |||
| Total Risk Alpha | (0) | |||
| Sortino Ratio | 0.0082 | |||
| Treynor Ratio | 0.1237 |
MetaTech AP Backtested Returns
At this stage we consider MetaTech Stock to be very steady. MetaTech AP has Sharpe Ratio of 0.0288, which conveys that the firm had a 0.0288% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for MetaTech, which you can use to evaluate the volatility of the firm. Please verify MetaTech's Risk Adjusted Performance of 0.0274, mean deviation of 1.06, and Downside Deviation of 1.73 to check out if the risk estimate we provide is consistent with the expected return of 0.0447%. MetaTech has a performance score of 2 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.27, which conveys not very significant fluctuations relative to the market. As returns on the market increase, MetaTech's returns are expected to increase less than the market. However, during the bear market, the loss of holding MetaTech is expected to be smaller as well. MetaTech AP right now secures a risk of 1.55%. Please verify MetaTech AP total risk alpha, treynor ratio, and the relationship between the jensen alpha and sortino ratio , to decide if MetaTech AP will be following its current price movements.
Auto-correlation | 0.32 |
Below average predictability
MetaTech AP has below average predictability. Overlapping area represents the amount of predictability between MetaTech time series from 19th of November 2024 to 4th of December 2024 and 4th of December 2024 to 19th 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 MetaTech AP price movement. The serial correlation of 0.32 indicates that nearly 32.0% of current MetaTech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.32 | |
| Spearman Rank Test | 0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 0.23 |
MetaTech AP lagged returns against current returns
Autocorrelation, which is MetaTech 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 MetaTech's stock expected returns. We can calculate the autocorrelation of MetaTech returns to help us make a trade decision. For example, suppose you find that MetaTech 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 |
MetaTech 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 MetaTech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MetaTech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MetaTech stock over time.
Current vs Lagged Prices |
| Timeline |
MetaTech Lagged Returns
When evaluating MetaTech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MetaTech stock have on its future price. MetaTech 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, MetaTech autocorrelation shows the relationship between MetaTech stock current value and its past values and can show if there is a momentum factor associated with investing in MetaTech AP.
Regressed Prices |
| Timeline |
Pair Trading with MetaTech
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 MetaTech 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 MetaTech will appreciate offsetting losses from the drop in the long position's value.Moving against MetaTech Stock
| 0.62 | 3325 | Casing Macron Technology | PairCorr |
| 0.55 | 6123 | GrandTech CG Systems | PairCorr |
| 0.51 | 3287 | Kworld Computer | PairCorr |
| 0.5 | 3232 | Sentronic International | PairCorr |
| 0.43 | 0051 | YuantaP shares Taiwan | PairCorr |
The ability to find closely correlated positions to MetaTech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MetaTech 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 MetaTech - 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 MetaTech AP to buy it.
The correlation of MetaTech 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 MetaTech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MetaTech AP 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 MetaTech 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 MetaTech Stock Analysis
When running MetaTech's price analysis, check to measure MetaTech'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 MetaTech is operating at the current time. Most of MetaTech's value examination focuses on studying past and present price action to predict the probability of MetaTech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move MetaTech's price. Additionally, you may evaluate how the addition of MetaTech to your portfolios can decrease your overall portfolio volatility.