Eastern Technical (Thailand) Market Value
| ETE Stock | THB 0.89 0.03 3.26% |
| Symbol | Eastern |
Eastern Technical '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 Eastern Technical'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 Eastern Technical.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Eastern Technical on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Eastern Technical Engineering or generate 0.0% return on investment in Eastern Technical over 30 days. Eastern Technical is related to or competes with G Capital, Harn Engineering, Fortune Parts, Hydrotek Public, and Ama Marine. Eastern Technical Engineering Public Company Limited provides installation services for telecommunication and electricit... More
Eastern Technical 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 Eastern Technical'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 Eastern Technical Engineering upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 9.12 | |||
| Value At Risk | (3.12) | |||
| Potential Upside | 3.74 |
Eastern Technical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eastern Technical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eastern Technical's standard deviation. In reality, there are many statistical measures that can use Eastern Technical historical prices to predict the future Eastern Technical's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.46) | |||
| Treynor Ratio | 0.4477 |
Eastern Technical Backtested Returns
Eastern Technical secures Sharpe Ratio (or Efficiency) of -0.11, which denotes the company had a -0.11% return per unit of risk over the last 3 months. Eastern Technical Engineering exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Eastern Technical's Standard Deviation of 1.96, mean deviation of 1.45, and Variance of 3.83 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.44, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Eastern Technical are expected to decrease at a much lower rate. During the bear market, Eastern Technical is likely to outperform the market. At this point, Eastern Technical has a negative expected return of -0.21%. Please make sure to confirm Eastern Technical's potential upside, kurtosis, and the relationship between the value at risk and skewness , to decide if Eastern Technical performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.81 |
Very good predictability
Eastern Technical Engineering has very good predictability. Overlapping area represents the amount of predictability between Eastern Technical time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th 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 Eastern Technical price movement. The serial correlation of 0.81 indicates that around 81.0% of current Eastern Technical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.81 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Eastern Technical lagged returns against current returns
Autocorrelation, which is Eastern Technical 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 Eastern Technical's stock expected returns. We can calculate the autocorrelation of Eastern Technical returns to help us make a trade decision. For example, suppose you find that Eastern Technical 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 |
Eastern Technical 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 Eastern Technical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eastern Technical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eastern Technical stock over time.
Current vs Lagged Prices |
| Timeline |
Eastern Technical Lagged Returns
When evaluating Eastern Technical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eastern Technical stock have on its future price. Eastern Technical 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, Eastern Technical autocorrelation shows the relationship between Eastern Technical stock current value and its past values and can show if there is a momentum factor associated with investing in Eastern Technical Engineering.
Regressed Prices |
| Timeline |
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Eastern Technical financial ratios help investors to determine whether Eastern 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 Eastern with respect to the benefits of owning Eastern Technical security.