Tongling Nonferrous (China) Market Value
| 000630 Stock | 3.30 0.04 1.23% |
| Symbol | Tongling |
Tongling Nonferrous '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 Tongling Nonferrous' 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 Tongling Nonferrous.
| 09/02/2024 |
| 12/01/2024 |
If you would invest 0.00 in Tongling Nonferrous on September 2, 2024 and sell it all today you would earn a total of 0.00 from holding Tongling Nonferrous Metals or generate 0.0% return on investment in Tongling Nonferrous over 90 days. Tongling Nonferrous is related to or competes with Zijin Mining, Wanhua Chemical, Baoshan Iron, Shandong Gold, Rongsheng Petrochemical, Inner Mongolia, and Jiangxi Ganfeng. Tongling Nonferrous is entity of China. It is traded as Stock on SHE exchange. More
Tongling Nonferrous 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 Tongling Nonferrous' 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 Tongling Nonferrous Metals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.72 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 17.96 | |||
| Value At Risk | (3.64) | |||
| Potential Upside | 4.13 |
Tongling Nonferrous Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tongling Nonferrous' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tongling Nonferrous' standard deviation. In reality, there are many statistical measures that can use Tongling Nonferrous historical prices to predict the future Tongling Nonferrous' volatility.| Risk Adjusted Performance | 0.0467 | |||
| Jensen Alpha | 0.1512 | |||
| Total Risk Alpha | (0.30) | |||
| Sortino Ratio | (0) | |||
| Treynor Ratio | (0.52) |
Tongling Nonferrous Backtested Returns
At this point, Tongling Nonferrous is relatively risky. Tongling Nonferrous owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0705, which indicates the firm had a 0.0705% return per unit of risk over the last 3 months. We have found thirty technical indicators for Tongling Nonferrous Metals, which you can use to evaluate the volatility of the company. Please validate Tongling Nonferrous' Semi Deviation of 2.4, risk adjusted performance of 0.0467, and Coefficient Of Variation of 1923.57 to confirm if the risk estimate we provide is consistent with the expected return of 0.18%. Tongling Nonferrous has a performance score of 5 on a scale of 0 to 100. The entity has a beta of -0.24, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Tongling Nonferrous are expected to decrease at a much lower rate. During the bear market, Tongling Nonferrous is likely to outperform the market. Tongling Nonferrous right now has a risk of 2.61%. Please validate Tongling Nonferrous semi deviation, coefficient of variation, jensen alpha, as well as the relationship between the downside deviation and standard deviation , to decide if Tongling Nonferrous will be following its existing price patterns.
Auto-correlation | -0.21 |
Weak reverse predictability
Tongling Nonferrous Metals has weak reverse predictability. Overlapping area represents the amount of predictability between Tongling Nonferrous time series from 2nd of September 2024 to 17th of October 2024 and 17th of October 2024 to 1st 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 Tongling Nonferrous price movement. The serial correlation of -0.21 indicates that over 21.0% of current Tongling Nonferrous price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.21 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Tongling Nonferrous lagged returns against current returns
Autocorrelation, which is Tongling Nonferrous 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 Tongling Nonferrous' stock expected returns. We can calculate the autocorrelation of Tongling Nonferrous returns to help us make a trade decision. For example, suppose you find that Tongling Nonferrous 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 |
Tongling Nonferrous 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 Tongling Nonferrous stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tongling Nonferrous stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tongling Nonferrous stock over time.
Current vs Lagged Prices |
| Timeline |
Tongling Nonferrous Lagged Returns
When evaluating Tongling Nonferrous' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tongling Nonferrous stock have on its future price. Tongling Nonferrous 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, Tongling Nonferrous autocorrelation shows the relationship between Tongling Nonferrous stock current value and its past values and can show if there is a momentum factor associated with investing in Tongling Nonferrous Metals.
Regressed Prices |
| Timeline |
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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.Other Information on Investing in Tongling Stock
Tongling Nonferrous financial ratios help investors to determine whether Tongling 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 Tongling with respect to the benefits of owning Tongling Nonferrous security.