Zhejiang Satellite (China) Market Value
| 002648 Stock | 20.03 0.53 2.72% |
| Symbol | Zhejiang |
Zhejiang Satellite '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 Zhejiang Satellite'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 Zhejiang Satellite.
| 11/02/2024 |
| 01/31/2025 |
If you would invest 0.00 in Zhejiang Satellite on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Zhejiang Satellite Petrochemical or generate 0.0% return on investment in Zhejiang Satellite over 90 days. Zhejiang Satellite is related to or competes with Sinosteel Engineering, Dongfeng Automobile, Zotye Automobile, Eit Environmental, Tongxing Environmental, Guangzhou Automobile, and Chongqing Changan. More
Zhejiang Satellite 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 Zhejiang Satellite'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 Zhejiang Satellite Petrochemical upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.38 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 6.61 | |||
| Value At Risk | (2.32) | |||
| Potential Upside | 2.88 |
Zhejiang Satellite Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zhejiang Satellite's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zhejiang Satellite's standard deviation. In reality, there are many statistical measures that can use Zhejiang Satellite historical prices to predict the future Zhejiang Satellite's volatility.| Risk Adjusted Performance | 0.0288 | |||
| Jensen Alpha | 0.0431 | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | (0.37) |
Zhejiang Satellite Backtested Returns
At this point, Zhejiang Satellite is very steady. Zhejiang Satellite shows Sharpe Ratio of 0.029, which attests that the company had a 0.029 % return per unit of risk over the last 3 months. We have found thirty technical indicators for Zhejiang Satellite, which you can use to evaluate the volatility of the company. Please check out Zhejiang Satellite's Mean Deviation of 1.15, market risk adjusted performance of (0.36), and Downside Deviation of 1.38 to validate if the risk estimate we provide is consistent with the expected return of 0.0446%. Zhejiang Satellite has a performance score of 2 on a scale of 0 to 100. The firm maintains a market beta of -0.0939, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Zhejiang Satellite are expected to decrease at a much lower rate. During the bear market, Zhejiang Satellite is likely to outperform the market. Zhejiang Satellite right now maintains a risk of 1.54%. Please check out Zhejiang Satellite downside deviation, standard deviation, and the relationship between the semi deviation and coefficient of variation , to decide if Zhejiang Satellite will be following its historical returns.
Auto-correlation | -0.82 |
Excellent reverse predictability
Zhejiang Satellite Petrochemical has excellent reverse predictability. Overlapping area represents the amount of predictability between Zhejiang Satellite time series from 2nd of November 2024 to 17th of December 2024 and 17th of December 2024 to 31st of January 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 Zhejiang Satellite price movement. The serial correlation of -0.82 indicates that around 82.0% of current Zhejiang Satellite price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.82 | |
| Spearman Rank Test | -0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 0.72 |
Zhejiang Satellite lagged returns against current returns
Autocorrelation, which is Zhejiang Satellite 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 Zhejiang Satellite's stock expected returns. We can calculate the autocorrelation of Zhejiang Satellite returns to help us make a trade decision. For example, suppose you find that Zhejiang Satellite 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 |
Zhejiang Satellite 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 Zhejiang Satellite stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zhejiang Satellite stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zhejiang Satellite stock over time.
Current vs Lagged Prices |
| Timeline |
Zhejiang Satellite Lagged Returns
When evaluating Zhejiang Satellite's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zhejiang Satellite stock have on its future price. Zhejiang Satellite 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, Zhejiang Satellite autocorrelation shows the relationship between Zhejiang Satellite stock current value and its past values and can show if there is a momentum factor associated with investing in Zhejiang Satellite Petrochemical.
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 Zhejiang Stock
Zhejiang Satellite financial ratios help investors to determine whether Zhejiang 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 Zhejiang with respect to the benefits of owning Zhejiang Satellite security.