Eminent Luggage (Taiwan) Market Value
| 9950 Stock | TWD 13.05 0.25 1.88% |
| Symbol | Eminent |
Eminent Luggage '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 Eminent Luggage'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 Eminent Luggage.
| 09/01/2024 |
| 11/30/2024 |
If you would invest 0.00 in Eminent Luggage on September 1, 2024 and sell it all today you would earn a total of 0.00 from holding Eminent Luggage or generate 0.0% return on investment in Eminent Luggage over 90 days. Eminent Luggage is related to or competes with Feng Tay, Pou Chen, Fulgent Sun, Victory New, and Shui Mu. Eminent Luggage Corporation designs, manufactures, and sells luggage products worldwide More
Eminent Luggage 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 Eminent Luggage'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 Eminent Luggage upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 5.27 | |||
| Value At Risk | (1.48) | |||
| Potential Upside | 2.12 |
Eminent Luggage Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eminent Luggage's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eminent Luggage's standard deviation. In reality, there are many statistical measures that can use Eminent Luggage historical prices to predict the future Eminent Luggage's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.21) | |||
| Total Risk Alpha | (0.36) | |||
| Treynor Ratio | (1.16) |
Eminent Luggage Backtested Returns
Eminent Luggage secures Sharpe Ratio (or Efficiency) of -0.16, which denotes the company had a -0.16% return per unit of risk over the last 3 months. Eminent Luggage exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Eminent Luggage's Standard Deviation of 1.04, variance of 1.09, and Mean Deviation of 0.6841 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.16, which means not very significant fluctuations relative to the market. As returns on the market increase, Eminent Luggage's returns are expected to increase less than the market. However, during the bear market, the loss of holding Eminent Luggage is expected to be smaller as well. At this point, Eminent Luggage has a negative expected return of -0.17%. Please make sure to confirm Eminent Luggage's coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Eminent Luggage performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.58 |
Modest predictability
Eminent Luggage has modest predictability. Overlapping area represents the amount of predictability between Eminent Luggage time series from 1st of September 2024 to 16th of October 2024 and 16th of October 2024 to 30th 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 Eminent Luggage price movement. The serial correlation of 0.58 indicates that roughly 58.0% of current Eminent Luggage price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.58 | |
| Spearman Rank Test | 0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Eminent Luggage lagged returns against current returns
Autocorrelation, which is Eminent Luggage 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 Eminent Luggage's stock expected returns. We can calculate the autocorrelation of Eminent Luggage returns to help us make a trade decision. For example, suppose you find that Eminent Luggage 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 |
Eminent Luggage 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 Eminent Luggage stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eminent Luggage stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eminent Luggage stock over time.
Current vs Lagged Prices |
| Timeline |
Eminent Luggage Lagged Returns
When evaluating Eminent Luggage's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eminent Luggage stock have on its future price. Eminent Luggage 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, Eminent Luggage autocorrelation shows the relationship between Eminent Luggage stock current value and its past values and can show if there is a momentum factor associated with investing in Eminent Luggage.
Regressed Prices |
| Timeline |
Pair Trading with Eminent Luggage
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 Eminent Luggage 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 Eminent Luggage will appreciate offsetting losses from the drop in the long position's value.Moving together with Eminent Stock
Moving against Eminent Stock
| 0.91 | 2881A | Fubon Financial Holding | PairCorr |
| 0.89 | 2882B | Cathay Financial Holding | PairCorr |
| 0.85 | 9904 | Pou Chen Corp | PairCorr |
| 0.76 | 8404 | Paiho Shih Holdings | PairCorr |
| 0.69 | 2317 | Hon Hai Precision | PairCorr |
The ability to find closely correlated positions to Eminent Luggage could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eminent Luggage 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 Eminent Luggage - 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 Eminent Luggage to buy it.
The correlation of Eminent Luggage 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 Eminent Luggage moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eminent Luggage 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 Eminent Luggage 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 Eminent Stock Analysis
When running Eminent Luggage's price analysis, check to measure Eminent Luggage'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 Eminent Luggage is operating at the current time. Most of Eminent Luggage's value examination focuses on studying past and present price action to predict the probability of Eminent Luggage's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Eminent Luggage's price. Additionally, you may evaluate how the addition of Eminent Luggage to your portfolios can decrease your overall portfolio volatility.