Angang Steel (China) Market Value
| 000898 Stock | 2.28 0.01 0.44% |
| Symbol | Angang |
Angang 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 Angang 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 Angang Steel.
| 01/02/2025 |
| 02/01/2025 |
If you would invest 0.00 in Angang Steel on January 2, 2025 and sell it all today you would earn a total of 0.00 from holding Angang Steel Co or generate 0.0% return on investment in Angang Steel over 30 days. Angang Steel is related to or competes with JCHX Mining, Tibet Huayu, Hongrun Construction, Senci Electric, Hangzhou Zhongya, Zhejiang Yinlun, and Shantui Construction. More
Angang 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 Angang 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 Angang Steel Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 8.16 | |||
| Value At Risk | (2.92) | |||
| Potential Upside | 3.5 |
Angang Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Angang Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Angang Steel's standard deviation. In reality, there are many statistical measures that can use Angang Steel historical prices to predict the future Angang Steel's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.26) | |||
| Treynor Ratio | (0.67) |
Angang Steel Backtested Returns
Angang Steel secures Sharpe Ratio (or Efficiency) of -0.0505, which signifies that the company had a -0.0505 % return per unit of standard deviation over the last 3 months. Angang Steel Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Angang Steel's risk adjusted performance of (0.04), and Mean Deviation of 1.48 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.16, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Angang Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Angang Steel is expected to be smaller as well. At this point, Angang Steel has a negative expected return of -0.0941%. Please make sure to confirm Angang Steel's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Angang Steel performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.20 |
Weak predictability
Angang Steel Co has weak predictability. Overlapping area represents the amount of predictability between Angang Steel time series from 2nd of January 2025 to 17th of January 2025 and 17th of January 2025 to 1st of February 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Angang Steel price movement. The serial correlation of 0.2 indicates that over 20.0% of current Angang Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Angang Steel lagged returns against current returns
Autocorrelation, which is Angang 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 Angang Steel's stock expected returns. We can calculate the autocorrelation of Angang Steel returns to help us make a trade decision. For example, suppose you find that Angang 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 |
Angang 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 Angang Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Angang Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Angang Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Angang Steel Lagged Returns
When evaluating Angang Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Angang Steel stock have on its future price. Angang 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, Angang Steel autocorrelation shows the relationship between Angang Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Angang Steel Co.
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 Angang Stock
Angang Steel financial ratios help investors to determine whether Angang 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 Angang with respect to the benefits of owning Angang Steel security.