Ningxia Younglight (China) Market Value
| 000635 Stock | 8.32 0.22 2.58% |
| Symbol | Ningxia |
Ningxia Younglight '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 Ningxia Younglight'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 Ningxia Younglight.
| 05/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Ningxia Younglight on May 27, 2024 and sell it all today you would earn a total of 0.00 from holding Ningxia Younglight Chemicals or generate 0.0% return on investment in Ningxia Younglight over 180 days. Ningxia Younglight is related to or competes with Zijin Mining, Wanhua Chemical, Baoshan Iron, Shandong Gold, Rongsheng Petrochemical, Inner Mongolia, and Jiangxi Ganfeng. Ningxia Younglight is entity of China. It is traded as Stock on SHE exchange. More
Ningxia Younglight 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 Ningxia Younglight'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 Ningxia Younglight Chemicals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.27 | |||
| Information Ratio | 0.1182 | |||
| Maximum Drawdown | 17.4 | |||
| Value At Risk | (4.58) | |||
| Potential Upside | 7.69 |
Ningxia Younglight Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ningxia Younglight's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ningxia Younglight's standard deviation. In reality, there are many statistical measures that can use Ningxia Younglight historical prices to predict the future Ningxia Younglight's volatility.| Risk Adjusted Performance | 0.1272 | |||
| Jensen Alpha | 0.641 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | 0.1261 | |||
| Treynor Ratio | (0.60) |
Ningxia Younglight Backtested Returns
Ningxia Younglight appears to be slightly risky, given 3 months investment horizon. Ningxia Younglight has Sharpe Ratio of 0.18, which conveys that the firm had a 0.18% return per unit of risk over the last 3 months. By analyzing Ningxia Younglight's technical indicators, you can evaluate if the expected return of 0.66% is justified by implied risk. Please exercise Ningxia Younglight's Risk Adjusted Performance of 0.1272, downside deviation of 3.27, and Mean Deviation of 2.44 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Ningxia Younglight holds a performance score of 14. The company secures a Beta (Market Risk) of -0.89, which conveys possible diversification benefits within a given portfolio. As the market becomes more bullish, returns on owning Ningxia Younglight are expected to decrease slowly. On the other hand, during market turmoil, Ningxia Younglight is expected to outperform it slightly. Please check Ningxia Younglight's semi deviation, coefficient of variation, jensen alpha, as well as the relationship between the downside deviation and standard deviation , to make a quick decision on whether Ningxia Younglight's current price movements will revert.
Auto-correlation | -0.34 |
Poor reverse predictability
Ningxia Younglight Chemicals has poor reverse predictability. Overlapping area represents the amount of predictability between Ningxia Younglight time series from 27th of May 2024 to 25th of August 2024 and 25th of August 2024 to 23rd of November 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 Ningxia Younglight price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current Ningxia Younglight price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | -0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 2.16 |
Ningxia Younglight lagged returns against current returns
Autocorrelation, which is Ningxia Younglight 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 Ningxia Younglight's stock expected returns. We can calculate the autocorrelation of Ningxia Younglight returns to help us make a trade decision. For example, suppose you find that Ningxia Younglight 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 |
Ningxia Younglight 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 Ningxia Younglight stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ningxia Younglight stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ningxia Younglight stock over time.
Current vs Lagged Prices |
| Timeline |
Ningxia Younglight Lagged Returns
When evaluating Ningxia Younglight's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ningxia Younglight stock have on its future price. Ningxia Younglight 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, Ningxia Younglight autocorrelation shows the relationship between Ningxia Younglight stock current value and its past values and can show if there is a momentum factor associated with investing in Ningxia Younglight Chemicals.
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.Other Information on Investing in Ningxia Stock
Ningxia Younglight financial ratios help investors to determine whether Ningxia 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 Ningxia with respect to the benefits of owning Ningxia Younglight security.