New Hope (China) Market Value
| 002946 Stock | 12.29 0.46 3.61% |
| Symbol | New |
New Hope '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 New Hope'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 New Hope.
| 10/29/2023 |
| 11/22/2024 |
If you would invest 0.00 in New Hope on October 29, 2023 and sell it all today you would earn a total of 0.00 from holding New Hope Dairy or generate 0.0% return on investment in New Hope over 390 days. New Hope is related to or competes with Aluminum Corp, COL Digital, Shaanxi Meineng, Gansu Huangtai, Lushang Property, and Threes Company. New Hope is entity of China. It is traded as Stock on SHE exchange. More
New Hope 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 New Hope'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 New Hope Dairy upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.67 | |||
| Information Ratio | 0.1643 | |||
| Maximum Drawdown | 20.01 | |||
| Value At Risk | (3.26) | |||
| Potential Upside | 7.24 |
New Hope Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New Hope's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New Hope's standard deviation. In reality, there are many statistical measures that can use New Hope historical prices to predict the future New Hope's volatility.| Risk Adjusted Performance | 0.158 | |||
| Jensen Alpha | 0.6643 | |||
| Total Risk Alpha | 0.213 | |||
| Sortino Ratio | 0.2062 | |||
| Treynor Ratio | (4.47) |
New Hope Dairy Backtested Returns
New Hope appears to be somewhat reliable, given 3 months investment horizon. New Hope Dairy has Sharpe Ratio of 0.23, which conveys that the firm had a 0.23% return per unit of risk over the last 3 months. By analyzing New Hope's technical indicators, you can evaluate if the expected return of 0.8% is justified by implied risk. Please exercise New Hope's Downside Deviation of 2.67, mean deviation of 2.35, and Risk Adjusted Performance of 0.158 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, New Hope holds a performance score of 17. The company secures a Beta (Market Risk) of -0.15, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning New Hope are expected to decrease at a much lower rate. During the bear market, New Hope is likely to outperform the market. Please check New Hope's jensen alpha, sortino ratio, maximum drawdown, as well as the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether New Hope's current price movements will revert.
Auto-correlation | 0.02 |
Virtually no predictability
New Hope Dairy has virtually no predictability. Overlapping area represents the amount of predictability between New Hope time series from 29th of October 2023 to 11th of May 2024 and 11th of May 2024 to 22nd 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 New Hope Dairy price movement. The serial correlation of 0.02 indicates that only 2.0% of current New Hope price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | -0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 2.36 |
New Hope Dairy lagged returns against current returns
Autocorrelation, which is New Hope 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 New Hope's stock expected returns. We can calculate the autocorrelation of New Hope returns to help us make a trade decision. For example, suppose you find that New Hope 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 |
New Hope 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 New Hope stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New Hope stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New Hope stock over time.
Current vs Lagged Prices |
| Timeline |
New Hope Lagged Returns
When evaluating New Hope's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New Hope stock have on its future price. New Hope 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, New Hope autocorrelation shows the relationship between New Hope stock current value and its past values and can show if there is a momentum factor associated with investing in New Hope Dairy.
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 New Stock
New Hope financial ratios help investors to determine whether New 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 New with respect to the benefits of owning New Hope security.