Double Medical (China) Market Value
| 002901 Stock | 35.94 0.30 0.83% |
| Symbol | Double |
Double Medical '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 Double Medical'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 Double Medical.
| 07/28/2024 |
| 01/24/2025 |
If you would invest 0.00 in Double Medical on July 28, 2024 and sell it all today you would earn a total of 0.00 from holding Double Medical Technology or generate 0.0% return on investment in Double Medical over 180 days. Double Medical is related to or competes with Agricultural Bank, Industrial, Bank of China, China Construction, China Merchants, PetroChina, and Industrial Bank. Double Medical is entity of China. It is traded as Stock on SHE exchange. More
Double Medical 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 Double Medical'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 Double Medical Technology upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.71 | |||
| Information Ratio | 0.0048 | |||
| Maximum Drawdown | 12.25 | |||
| Value At Risk | (2.33) | |||
| Potential Upside | 3.3 |
Double Medical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Double Medical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Double Medical's standard deviation. In reality, there are many statistical measures that can use Double Medical historical prices to predict the future Double Medical's volatility.| Risk Adjusted Performance | 0.0292 | |||
| Jensen Alpha | 0.0589 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | 0.006 | |||
| Treynor Ratio | (0.17) |
Double Medical Technology Backtested Returns
At this point, Double Medical is very steady. Double Medical Technology secures Sharpe Ratio (or Efficiency) of 0.0381, which denotes the company had a 0.0381 % return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Double Medical Technology, which you can use to evaluate the volatility of the firm. Please confirm Double Medical's Downside Deviation of 1.71, coefficient of variation of 3671.11, and Mean Deviation of 1.51 to check if the risk estimate we provide is consistent with the expected return of 0.0821%. Double Medical has a performance score of 3 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.28, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Double Medical are expected to decrease at a much lower rate. During the bear market, Double Medical is likely to outperform the market. Double Medical Technology right now shows a risk of 2.15%. Please confirm Double Medical Technology standard deviation, total risk alpha, treynor ratio, as well as the relationship between the jensen alpha and sortino ratio , to decide if Double Medical Technology will be following its price patterns.
Auto-correlation | -0.4 |
Poor reverse predictability
Double Medical Technology has poor reverse predictability. Overlapping area represents the amount of predictability between Double Medical time series from 28th of July 2024 to 26th of October 2024 and 26th of October 2024 to 24th 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 Double Medical Technology price movement. The serial correlation of -0.4 indicates that just about 40.0% of current Double Medical price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.4 | |
| Spearman Rank Test | -0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 2.9 |
Double Medical Technology lagged returns against current returns
Autocorrelation, which is Double Medical 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 Double Medical's stock expected returns. We can calculate the autocorrelation of Double Medical returns to help us make a trade decision. For example, suppose you find that Double Medical 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 |
Double Medical 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 Double Medical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Double Medical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Double Medical stock over time.
Current vs Lagged Prices |
| Timeline |
Double Medical Lagged Returns
When evaluating Double Medical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Double Medical stock have on its future price. Double Medical 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, Double Medical autocorrelation shows the relationship between Double Medical stock current value and its past values and can show if there is a momentum factor associated with investing in Double Medical Technology.
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 Double Stock
Double Medical financial ratios help investors to determine whether Double 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 Double with respect to the benefits of owning Double Medical security.