Contec Medical (China) Market Value
| 300869 Stock | 15.48 0.19 1.24% |
| Symbol | Contec |
Contec 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 Contec 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 Contec Medical.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Contec Medical on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Contec Medical Systems or generate 0.0% return on investment in Contec Medical over 30 days. Contec Medical is related to or competes with Industrial, China Construction, Agricultural Bank, Bank of China, PetroChina, China Merchants, and CNOOC. Contec Medical is entity of China. It is traded as Stock on SHE exchange. More
Contec 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 Contec 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 Contec Medical Systems upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.22 | |||
| Information Ratio | 0.0323 | |||
| Maximum Drawdown | 26.16 | |||
| Value At Risk | (4.14) | |||
| Potential Upside | 3.62 |
Contec Medical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Contec Medical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Contec Medical's standard deviation. In reality, there are many statistical measures that can use Contec Medical historical prices to predict the future Contec Medical's volatility.| Risk Adjusted Performance | 0.0598 | |||
| Jensen Alpha | 0.2821 | |||
| Total Risk Alpha | (0.34) | |||
| Sortino Ratio | 0.0368 | |||
| Treynor Ratio | (0.67) |
Contec Medical Systems Backtested Returns
Contec Medical appears to be somewhat reliable, given 3 months investment horizon. Contec Medical Systems secures Sharpe Ratio (or Efficiency) of 0.0986, which signifies that the company had a 0.0986% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Contec Medical Systems, which you can use to evaluate the volatility of the firm. Please makes use of Contec Medical's Downside Deviation of 3.22, risk adjusted performance of 0.0598, and Mean Deviation of 2.47 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Contec Medical holds a performance score of 7. The firm shows a Beta (market volatility) of -0.36, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Contec Medical are expected to decrease at a much lower rate. During the bear market, Contec Medical is likely to outperform the market. Please check Contec Medical's downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Contec Medical's price patterns will revert.
Auto-correlation | -0.18 |
Insignificant reverse predictability
Contec Medical Systems has insignificant reverse predictability. Overlapping area represents the amount of predictability between Contec Medical time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Contec Medical Systems price movement. The serial correlation of -0.18 indicates that over 18.0% of current Contec Medical price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.18 | |
| Spearman Rank Test | -0.73 | |
| Residual Average | 0.0 | |
| Price Variance | 0.4 |
Contec Medical Systems lagged returns against current returns
Autocorrelation, which is Contec 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 Contec Medical's stock expected returns. We can calculate the autocorrelation of Contec Medical returns to help us make a trade decision. For example, suppose you find that Contec 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 |
Contec 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 Contec Medical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Contec Medical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Contec Medical stock over time.
Current vs Lagged Prices |
| Timeline |
Contec Medical Lagged Returns
When evaluating Contec Medical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Contec Medical stock have on its future price. Contec 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, Contec Medical autocorrelation shows the relationship between Contec Medical stock current value and its past values and can show if there is a momentum factor associated with investing in Contec Medical Systems.
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 Contec Stock
Contec Medical financial ratios help investors to determine whether Contec 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 Contec with respect to the benefits of owning Contec Medical security.