MICRON TECHNOLOGY INC Market Value
| 595112BP7 | 97.65 0.43 0.44% |
| Symbol | MICRON |
MICRON '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 MICRON's bond 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 MICRON.
| 02/19/2024 |
| 05/19/2024 |
If you would invest 0.00 in MICRON on February 19, 2024 and sell it all today you would earn a total of 0.00 from holding MICRON TECHNOLOGY INC or generate 0.0% return on investment in MICRON over 90 days. MICRON is related to or competes with Cytek Biosciences, NetSol Technologies, 908 Devices, ServiceNow, Park City, Bill, and ON24. More
MICRON 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 MICRON's bond 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 MICRON TECHNOLOGY INC upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2225 | |||
| Information Ratio | (0.34) | |||
| Maximum Drawdown | 1.69 | |||
| Value At Risk | (0.25) | |||
| Potential Upside | 0.3085 |
MICRON Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MICRON's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MICRON's standard deviation. In reality, there are many statistical measures that can use MICRON historical prices to predict the future MICRON's volatility.| Risk Adjusted Performance | 0.0422 | |||
| Jensen Alpha | 0.0095 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.35) | |||
| Treynor Ratio | 0.3765 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of MICRON'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.
MICRON TECHNOLOGY INC Backtested Returns
We consider MICRON very steady. MICRON TECHNOLOGY INC retains Efficiency (Sharpe Ratio) of 0.099, which conveys that the entity had a 0.099% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for MICRON, which you can use to evaluate the volatility of the bond. Please verify MICRON's Semi Deviation of 0.1363, market risk adjusted performance of 0.3865, and Mean Deviation of 0.1636 to check out if the risk estimate we provide is consistent with the expected return of 0.0225%. The bond owns a Beta (Systematic Risk) of 0.0332, which conveys not very significant fluctuations relative to the market. As returns on the market increase, MICRON's returns are expected to increase less than the market. However, during the bear market, the loss of holding MICRON is expected to be smaller as well.
Auto-correlation | -0.03 |
Very weak reverse predictability
MICRON TECHNOLOGY INC has very weak reverse predictability. Overlapping area represents the amount of predictability between MICRON time series from 19th of February 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 MICRON TECHNOLOGY INC price movement. The serial correlation of -0.03 indicates that only 3.0% of current MICRON price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.03 | |
| Spearman Rank Test | -0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
MICRON TECHNOLOGY INC lagged returns against current returns
Autocorrelation, which is MICRON bond'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 MICRON's bond expected returns. We can calculate the autocorrelation of MICRON returns to help us make a trade decision. For example, suppose you find that MICRON has exhibited high autocorrelation historically, and you observe that the bond 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 |
MICRON 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 MICRON bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MICRON bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MICRON bond over time.
Current vs Lagged Prices |
| Timeline |
MICRON Lagged Returns
When evaluating MICRON's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MICRON bond have on its future price. MICRON 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, MICRON autocorrelation shows the relationship between MICRON bond current value and its past values and can show if there is a momentum factor associated with investing in MICRON TECHNOLOGY INC.
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 MICRON Correlation, MICRON Volatility and MICRON Alpha and Beta module to complement your research on MICRON. Note that the MICRON TECHNOLOGY INC information on this page should be used as a complementary analysis to other MICRON's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
MICRON technical bond 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, bond market cycles, or different charting patterns.