Elbit Med (Israel) Market Value
| EMTC Stock | ILS 15.30 0.30 1.92% |
| Symbol | Elbit |
Elbit Med '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 Elbit Med'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 Elbit Med.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Elbit Med on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Elbit Med Tech or generate 0.0% return on investment in Elbit Med over 30 days. Elbit Med is related to or competes with Bezeq Israeli, and Compugen. Elbit Medical Technologies Ltd engages in biomedical business More
Elbit Med 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 Elbit Med'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 Elbit Med Tech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 32.27 | |||
| Value At Risk | (11.62) | |||
| Potential Upside | 13.7 |
Elbit Med Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elbit Med's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elbit Med's standard deviation. In reality, there are many statistical measures that can use Elbit Med historical prices to predict the future Elbit Med's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.96) | |||
| Total Risk Alpha | (1.56) | |||
| Treynor Ratio | (0.26) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Elbit Med'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.
Elbit Med Tech Backtested Returns
Elbit Med Tech secures Sharpe Ratio (or Efficiency) of -0.11, which denotes the company had a -0.11% return per unit of standard deviation over the last 3 months. Elbit Med Tech exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elbit Med's Standard Deviation of 8.17, coefficient of variation of (1,056), and Mean Deviation of 6.34 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 3.05, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Elbit Med will likely underperform. Elbit Med Tech has an expected return of -0.92%. Please make sure to confirm Elbit Med Tech coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Elbit Med Tech performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.73 |
Good predictability
Elbit Med Tech has good predictability. Overlapping area represents the amount of predictability between Elbit Med time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th of April 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 Elbit Med Tech price movement. The serial correlation of 0.73 indicates that around 73.0% of current Elbit Med price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.73 | |
| Spearman Rank Test | 0.79 | |
| Residual Average | 0.0 | |
| Price Variance | 1.79 |
Elbit Med Tech lagged returns against current returns
Autocorrelation, which is Elbit Med 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 Elbit Med's stock expected returns. We can calculate the autocorrelation of Elbit Med returns to help us make a trade decision. For example, suppose you find that Elbit Med 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 |
Elbit Med 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 Elbit Med stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elbit Med stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elbit Med stock over time.
Current vs Lagged Prices |
| Timeline |
Elbit Med Lagged Returns
When evaluating Elbit Med's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elbit Med stock have on its future price. Elbit Med 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, Elbit Med autocorrelation shows the relationship between Elbit Med stock current value and its past values and can show if there is a momentum factor associated with investing in Elbit Med Tech.
Regressed Prices |
| Timeline |
Pair Trading with Elbit Med
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 Elbit Med 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 Elbit Med will appreciate offsetting losses from the drop in the long position's value.Moving against Elbit Stock
| 0.72 | MGDL | Migdal Insurance | PairCorr |
| 0.65 | HARL | Harel Insurance Inve | PairCorr |
| 0.57 | DSCT | Israel Discount Bank | PairCorr |
| 0.51 | LUMI | Bank Leumi Le | PairCorr |
The ability to find closely correlated positions to Elbit Med could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elbit Med 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 Elbit Med - 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 Elbit Med Tech to buy it.
The correlation of Elbit Med 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 Elbit Med moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elbit Med Tech 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 Elbit Med 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.Check out Elbit Med Correlation, Elbit Med Volatility and Elbit Med Alpha and Beta module to complement your research on Elbit Med. You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Complementary Tools for Elbit Stock analysis
When running Elbit Med's price analysis, check to measure Elbit Med'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 Elbit Med is operating at the current time. Most of Elbit Med's value examination focuses on studying past and present price action to predict the probability of Elbit Med's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elbit Med's price. Additionally, you may evaluate how the addition of Elbit Med to your portfolios can decrease your overall portfolio volatility.
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Elbit Med 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.