Me Lin (Vietnam) Market Value
| MEL Stock | 7,300 700.00 10.61% |
| Symbol | MEL |
Me Lin '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 Me Lin'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 Me Lin.
| 11/27/2024 |
| 12/27/2024 |
If you would invest 0.00 in Me Lin on November 27, 2024 and sell it all today you would earn a total of 0.00 from holding Me Lin Steel or generate 0.0% return on investment in Me Lin over 30 days.
Me Lin 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 Me Lin'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 Me Lin Steel upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.33 | |||
| Information Ratio | 0.0582 | |||
| Maximum Drawdown | 18.97 | |||
| Value At Risk | (9.09) | |||
| Potential Upside | 7.94 |
Me Lin Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Me Lin's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Me Lin's standard deviation. In reality, there are many statistical measures that can use Me Lin historical prices to predict the future Me Lin's volatility.| Risk Adjusted Performance | 0.0625 | |||
| Jensen Alpha | 0.3489 | |||
| Total Risk Alpha | 0.0639 | |||
| Sortino Ratio | 0.0507 | |||
| Treynor Ratio | 1.03 |
Me Lin Steel Backtested Returns
Me Lin appears to be very steady, given 3 months investment horizon. Me Lin Steel retains Efficiency (Sharpe Ratio) of 0.12, which conveys that the firm had a 0.12% return per unit of price deviation over the last 3 months. By inspecting Me Lin's technical indicators, you can evaluate if the expected return of 0.75% is justified by implied risk. Please exercise Me Lin's Mean Deviation of 4.52, market risk adjusted performance of 1.04, and Standard Deviation of 5.51 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Me Lin holds a performance score of 9. The company owns a Beta (Systematic Risk) of 0.35, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Me Lin's returns are expected to increase less than the market. However, during the bear market, the loss of holding Me Lin is expected to be smaller as well. Please check Me Lin's potential upside, rate of daily change, and the relationship between the sortino ratio and skewness , to make a quick decision on whether Me Lin's current price history will revert.
Auto-correlation | 0.32 |
Below average predictability
Me Lin Steel has below average predictability. Overlapping area represents the amount of predictability between Me Lin time series from 27th of November 2024 to 12th of December 2024 and 12th of December 2024 to 27th 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 Me Lin Steel price movement. The serial correlation of 0.32 indicates that nearly 32.0% of current Me Lin price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.32 | |
| Spearman Rank Test | 0.6 | |
| Residual Average | 0.0 | |
| Price Variance | 160 K |
Me Lin Steel lagged returns against current returns
Autocorrelation, which is Me Lin 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 Me Lin's stock expected returns. We can calculate the autocorrelation of Me Lin returns to help us make a trade decision. For example, suppose you find that Me Lin 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 |
Me Lin 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 Me Lin stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Me Lin stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Me Lin stock over time.
Current vs Lagged Prices |
| Timeline |
Me Lin Lagged Returns
When evaluating Me Lin's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Me Lin stock have on its future price. Me Lin 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, Me Lin autocorrelation shows the relationship between Me Lin stock current value and its past values and can show if there is a momentum factor associated with investing in Me Lin Steel.
Regressed Prices |
| Timeline |
Pair Trading with Me Lin
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 Me Lin 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 Me Lin will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Me Lin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Me Lin 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 Me Lin - 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 Me Lin Steel to buy it.
The correlation of Me Lin 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 Me Lin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Me Lin Steel 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 Me Lin 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.