Tongxing Environmental (China) Market Value
| 003027 Stock | 16.71 0.92 5.83% |
| Symbol | Tongxing |
Tongxing Environmental '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 Tongxing Environmental'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 Tongxing Environmental.
| 02/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Tongxing Environmental on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Tongxing Environmental Protection or generate 0.0% return on investment in Tongxing Environmental over 270 days. Tongxing Environmental is related to or competes with China Petroleum, PetroChina, China State, China Railway, China Railway, China Mobile, and Industrial. Tongxing Environmental is entity of China More
Tongxing Environmental 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 Tongxing Environmental'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 Tongxing Environmental Protection upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.65 | |||
| Information Ratio | 0.115 | |||
| Maximum Drawdown | 17.6 | |||
| Value At Risk | (3.48) | |||
| Potential Upside | 4.09 |
Tongxing Environmental Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tongxing Environmental's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tongxing Environmental's standard deviation. In reality, there are many statistical measures that can use Tongxing Environmental historical prices to predict the future Tongxing Environmental's volatility.| Risk Adjusted Performance | 0.1312 | |||
| Jensen Alpha | 0.4794 | |||
| Total Risk Alpha | 0.0014 | |||
| Sortino Ratio | 0.1221 | |||
| Treynor Ratio | (1.51) |
Tongxing Environmental Backtested Returns
Tongxing Environmental appears to be somewhat reliable, given 3 months investment horizon. Tongxing Environmental owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.22, which indicates the firm had a 0.22% return per unit of risk over the last 3 months. By inspecting Tongxing Environmental's technical indicators, you can evaluate if the expected return of 0.62% is justified by implied risk. Please review Tongxing Environmental's Risk Adjusted Performance of 0.1312, coefficient of variation of 619.09, and Semi Deviation of 2.22 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Tongxing Environmental holds a performance score of 17. The entity has a beta of -0.29, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Tongxing Environmental are expected to decrease at a much lower rate. During the bear market, Tongxing Environmental is likely to outperform the market. Please check Tongxing Environmental'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 Tongxing Environmental's existing price patterns will revert.
Auto-correlation | -0.79 |
Almost perfect reverse predictability
Tongxing Environmental Protection has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Tongxing Environmental time series from 27th of February 2024 to 11th of July 2024 and 11th of July 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 Tongxing Environmental price movement. The serial correlation of -0.79 indicates that around 79.0% of current Tongxing Environmental price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.79 | |
| Spearman Rank Test | -0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 1.32 |
Tongxing Environmental lagged returns against current returns
Autocorrelation, which is Tongxing Environmental 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 Tongxing Environmental's stock expected returns. We can calculate the autocorrelation of Tongxing Environmental returns to help us make a trade decision. For example, suppose you find that Tongxing Environmental 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 |
Tongxing Environmental 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 Tongxing Environmental stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tongxing Environmental stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tongxing Environmental stock over time.
Current vs Lagged Prices |
| Timeline |
Tongxing Environmental Lagged Returns
When evaluating Tongxing Environmental's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tongxing Environmental stock have on its future price. Tongxing Environmental 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, Tongxing Environmental autocorrelation shows the relationship between Tongxing Environmental stock current value and its past values and can show if there is a momentum factor associated with investing in Tongxing Environmental Protection.
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 Tongxing Stock
Tongxing Environmental financial ratios help investors to determine whether Tongxing 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 Tongxing with respect to the benefits of owning Tongxing Environmental security.