Zhejiang Zhengguang (China) Market Value
| 301092 Stock | 24.96 0.46 1.88% |
| Symbol | Zhejiang |
Zhejiang Zhengguang '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 Zhengguang'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 Zhengguang.
| 05/06/2024 |
| 12/02/2024 |
If you would invest 0.00 in Zhejiang Zhengguang on May 6, 2024 and sell it all today you would earn a total of 0.00 from holding Zhejiang Zhengguang Industrial or generate 0.0% return on investment in Zhejiang Zhengguang over 210 days. Zhejiang Zhengguang is related to or competes with Zijin Mining, Baoshan Iron, Rongsheng Petrochemical, and Hoshine Silicon. Zhejiang Zhengguang is entity of China. It is traded as Stock on SHE exchange. More
Zhejiang Zhengguang 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 Zhengguang'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 Zhengguang Industrial upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.22 | |||
| Information Ratio | 0.0487 | |||
| Maximum Drawdown | 23.44 | |||
| Value At Risk | (4.16) | |||
| Potential Upside | 4.56 |
Zhejiang Zhengguang Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zhejiang Zhengguang's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zhejiang Zhengguang's standard deviation. In reality, there are many statistical measures that can use Zhejiang Zhengguang historical prices to predict the future Zhejiang Zhengguang's volatility.| Risk Adjusted Performance | 0.0762 | |||
| Jensen Alpha | 0.2834 | |||
| Total Risk Alpha | (0.27) | |||
| Sortino Ratio | 0.0509 | |||
| Treynor Ratio | 4.67 |
Zhejiang Zhengguang Backtested Returns
Zhejiang Zhengguang appears to be not too volatile, given 3 months investment horizon. Zhejiang Zhengguang shows Sharpe Ratio of 0.11, which attests that the company had a 0.11% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Zhejiang Zhengguang, which you can use to evaluate the volatility of the company. Please utilize Zhejiang Zhengguang's Mean Deviation of 2.36, market risk adjusted performance of 4.68, and Downside Deviation of 3.22 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Zhejiang Zhengguang holds a performance score of 8. The firm maintains a market beta of 0.0624, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Zhejiang Zhengguang's returns are expected to increase less than the market. However, during the bear market, the loss of holding Zhejiang Zhengguang is expected to be smaller as well. Please check Zhejiang Zhengguang's semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to make a quick decision on whether Zhejiang Zhengguang's historical returns will revert.
Auto-correlation | -0.75 |
Almost perfect reverse predictability
Zhejiang Zhengguang Industrial has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Zhejiang Zhengguang time series from 6th of May 2024 to 19th of August 2024 and 19th of August 2024 to 2nd of December 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 Zhejiang Zhengguang price movement. The serial correlation of -0.75 indicates that around 75.0% of current Zhejiang Zhengguang price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.75 | |
| Spearman Rank Test | -0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 4.89 |
Zhejiang Zhengguang lagged returns against current returns
Autocorrelation, which is Zhejiang Zhengguang 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 Zhengguang's stock expected returns. We can calculate the autocorrelation of Zhejiang Zhengguang returns to help us make a trade decision. For example, suppose you find that Zhejiang Zhengguang 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 Zhengguang 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 Zhengguang stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zhejiang Zhengguang stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zhejiang Zhengguang stock over time.
Current vs Lagged Prices |
| Timeline |
Zhejiang Zhengguang Lagged Returns
When evaluating Zhejiang Zhengguang's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zhejiang Zhengguang stock have on its future price. Zhejiang Zhengguang 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 Zhengguang autocorrelation shows the relationship between Zhejiang Zhengguang stock current value and its past values and can show if there is a momentum factor associated with investing in Zhejiang Zhengguang Industrial.
Regressed Prices |
| Timeline |
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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 Zhengguang 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 Zhengguang security.