Mechema Chemicals (Taiwan) Market Value
| 4721 Stock | TWD 74.90 1.40 1.90% |
| Symbol | Mechema |
Mechema Chemicals '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 Mechema Chemicals' 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 Mechema Chemicals.
| 08/19/2023 |
| 12/11/2024 |
If you would invest 0.00 in Mechema Chemicals on August 19, 2023 and sell it all today you would earn a total of 0.00 from holding Mechema Chemicals Int or generate 0.0% return on investment in Mechema Chemicals over 480 days. Mechema Chemicals is related to or competes with Delta Electronics, Ruentex Development, WiseChip Semiconductor, Novatek Microelectronics, Leader Electronics, Advanced Ceramic, and Information Technology. More
Mechema Chemicals 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 Mechema Chemicals' 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 Mechema Chemicals Int upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.56 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 6.61 | |||
| Value At Risk | (2.54) | |||
| Potential Upside | 2.64 |
Mechema Chemicals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mechema Chemicals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mechema Chemicals' standard deviation. In reality, there are many statistical measures that can use Mechema Chemicals historical prices to predict the future Mechema Chemicals' volatility.| Risk Adjusted Performance | 0.0287 | |||
| Jensen Alpha | 9.0E-4 | |||
| Total Risk Alpha | (0.21) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.1171 |
Mechema Chemicals Int Backtested Returns
At this stage we consider Mechema Stock to be very steady. Mechema Chemicals Int has Sharpe Ratio of 0.0679, which conveys that the firm had a 0.0679% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Mechema Chemicals, which you can use to evaluate the volatility of the firm. Please verify Mechema Chemicals' Mean Deviation of 1.17, risk adjusted performance of 0.0287, and Downside Deviation of 1.56 to check out if the risk estimate we provide is consistent with the expected return of 0.1%. Mechema Chemicals has a performance score of 5 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.35, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Mechema Chemicals' returns are expected to increase less than the market. However, during the bear market, the loss of holding Mechema Chemicals is expected to be smaller as well. Mechema Chemicals Int right now secures a risk of 1.54%. Please verify Mechema Chemicals Int mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to decide if Mechema Chemicals Int will be following its current price movements.
Auto-correlation | -0.01 |
Very weak reverse predictability
Mechema Chemicals Int has very weak reverse predictability. Overlapping area represents the amount of predictability between Mechema Chemicals time series from 19th of August 2023 to 15th of April 2024 and 15th of April 2024 to 11th 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 Mechema Chemicals Int price movement. The serial correlation of -0.01 indicates that just 1.0% of current Mechema Chemicals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.01 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 14.71 |
Mechema Chemicals Int lagged returns against current returns
Autocorrelation, which is Mechema Chemicals 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 Mechema Chemicals' stock expected returns. We can calculate the autocorrelation of Mechema Chemicals returns to help us make a trade decision. For example, suppose you find that Mechema Chemicals 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 |
Mechema Chemicals 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 Mechema Chemicals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mechema Chemicals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Mechema Chemicals stock over time.
Current vs Lagged Prices |
| Timeline |
Mechema Chemicals Lagged Returns
When evaluating Mechema Chemicals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mechema Chemicals stock have on its future price. Mechema Chemicals 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, Mechema Chemicals autocorrelation shows the relationship between Mechema Chemicals stock current value and its past values and can show if there is a momentum factor associated with investing in Mechema Chemicals Int.
Regressed Prices |
| Timeline |
Pair Trading with Mechema Chemicals
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 Mechema Chemicals 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 Mechema Chemicals will appreciate offsetting losses from the drop in the long position's value.Moving against Mechema Stock
The ability to find closely correlated positions to Mechema Chemicals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mechema Chemicals 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 Mechema Chemicals - 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 Mechema Chemicals Int to buy it.
The correlation of Mechema Chemicals 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 Mechema Chemicals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mechema Chemicals Int 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 Mechema Chemicals 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 Mechema Stock Analysis
When running Mechema Chemicals' price analysis, check to measure Mechema Chemicals' 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 Mechema Chemicals is operating at the current time. Most of Mechema Chemicals' value examination focuses on studying past and present price action to predict the probability of Mechema Chemicals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Mechema Chemicals' price. Additionally, you may evaluate how the addition of Mechema Chemicals to your portfolios can decrease your overall portfolio volatility.