Evergreen Steel (Taiwan) Market Value
| 2211 Stock | TWD 136.50 2.00 1.44% |
| Symbol | Evergreen |
Evergreen Steel '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 Evergreen Steel'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 Evergreen Steel.
| 03/01/2024 |
| 05/30/2024 |
If you would invest 0.00 in Evergreen Steel on March 1, 2024 and sell it all today you would earn a total of 0.00 from holding Evergreen Steel Corp or generate 0.0% return on investment in Evergreen Steel over 90 days. Evergreen Steel is related to or competes with Catcher Technology, Shin Zu, and China Metal. Evergreen Steel Corp. engages in the production and sale of steel products More
Evergreen Steel 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 Evergreen Steel'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 Evergreen Steel Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.02 | |||
| Information Ratio | 0.1357 | |||
| Maximum Drawdown | 19.85 | |||
| Value At Risk | (3.11) | |||
| Potential Upside | 4.53 |
Evergreen Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Evergreen Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Evergreen Steel's standard deviation. In reality, there are many statistical measures that can use Evergreen Steel historical prices to predict the future Evergreen Steel's volatility.| Risk Adjusted Performance | 0.0946 | |||
| Jensen Alpha | 0.4174 | |||
| Total Risk Alpha | 0.305 | |||
| Sortino Ratio | 0.135 | |||
| Treynor Ratio | 0.7039 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Evergreen Steel's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Evergreen Steel Corp Backtested Returns
Evergreen Steel appears to be very steady, given 3 months investment horizon. Evergreen Steel Corp 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. We have found twenty-nine technical indicators for Evergreen Steel Corp, which you can use to evaluate the volatility of the firm. Please utilize Evergreen Steel's Coefficient Of Variation of 678.62, downside deviation of 3.02, and Mean Deviation of 2.13 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Evergreen Steel holds a performance score of 12. The firm shows a Beta (market volatility) of 0.61, which means possible diversification benefits within a given portfolio. As returns on the market increase, Evergreen Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Evergreen Steel is expected to be smaller as well. Please check Evergreen Steel's semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to make a quick decision on whether Evergreen Steel's price patterns will revert.
Auto-correlation | -0.18 |
Insignificant reverse predictability
Evergreen Steel Corp has insignificant reverse predictability. Overlapping area represents the amount of predictability between Evergreen Steel time series from 1st of March 2024 to 15th of April 2024 and 15th of April 2024 to 30th of May 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 Evergreen Steel Corp price movement. The serial correlation of -0.18 indicates that over 18.0% of current Evergreen Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.18 | |
| Spearman Rank Test | -0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 25.0 |
Evergreen Steel Corp lagged returns against current returns
Autocorrelation, which is Evergreen Steel 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 Evergreen Steel's stock expected returns. We can calculate the autocorrelation of Evergreen Steel returns to help us make a trade decision. For example, suppose you find that Evergreen Steel 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 |
Evergreen Steel 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 Evergreen Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Evergreen Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Evergreen Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Evergreen Steel Lagged Returns
When evaluating Evergreen Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Evergreen Steel stock have on its future price. Evergreen Steel 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, Evergreen Steel autocorrelation shows the relationship between Evergreen Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Evergreen Steel Corp.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Check out Evergreen Steel Correlation, Evergreen Steel Volatility and Evergreen Steel Alpha and Beta module to complement your research on Evergreen Steel. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Complementary Tools for Evergreen Stock analysis
When running Evergreen Steel's price analysis, check to measure Evergreen Steel'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 Evergreen Steel is operating at the current time. Most of Evergreen Steel's value examination focuses on studying past and present price action to predict the probability of Evergreen Steel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Evergreen Steel's price. Additionally, you may evaluate how the addition of Evergreen Steel to your portfolios can decrease your overall portfolio volatility.
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Evergreen Steel technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.