Zhejiang Tongxing (China) Market Value
| 301252 Stock | 29.32 0.21 0.72% |
| Symbol | Zhejiang |
Zhejiang Tongxing '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 Tongxing'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 Tongxing.
| 01/12/2023 |
| 12/02/2024 |
If you would invest 0.00 in Zhejiang Tongxing on January 12, 2023 and sell it all today you would earn a total of 0.00 from holding Zhejiang Tongxing Technology or generate 0.0% return on investment in Zhejiang Tongxing over 690 days. Zhejiang Tongxing is related to or competes with Hainan Mining, Changchun BCHT, Jinhui Mining, Sunny Loan, Xinjiang Baodi, Jiangsu Financial, and Zhengzhou Coal. Zhejiang Tongxing is entity of China. It is traded as Stock on SHE exchange. More
Zhejiang Tongxing 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 Tongxing'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 Tongxing Technology upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.95 | |||
| Information Ratio | 0.0461 | |||
| Maximum Drawdown | 27.18 | |||
| Value At Risk | (4.40) | |||
| Potential Upside | 7.41 |
Zhejiang Tongxing Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zhejiang Tongxing's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zhejiang Tongxing's standard deviation. In reality, there are many statistical measures that can use Zhejiang Tongxing historical prices to predict the future Zhejiang Tongxing's volatility.| Risk Adjusted Performance | 0.0707 | |||
| Jensen Alpha | 0.3461 | |||
| Total Risk Alpha | (0.33) | |||
| Sortino Ratio | 0.0447 | |||
| Treynor Ratio | (0.92) |
Zhejiang Tongxing Backtested Returns
Zhejiang Tongxing appears to be not too volatile, given 3 months investment horizon. Zhejiang Tongxing shows Sharpe Ratio of 0.0941, which attests that the company had a 0.0941% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Zhejiang Tongxing, which you can use to evaluate the volatility of the company. Please utilize Zhejiang Tongxing's Downside Deviation of 3.95, market risk adjusted performance of (0.91), and Mean Deviation of 2.56 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Zhejiang Tongxing holds a performance score of 7. The firm maintains a market beta of -0.33, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Zhejiang Tongxing are expected to decrease at a much lower rate. During the bear market, Zhejiang Tongxing is likely to outperform the market. Please check Zhejiang Tongxing's market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to make a quick decision on whether Zhejiang Tongxing's historical returns will revert.
Auto-correlation | -0.39 |
Poor reverse predictability
Zhejiang Tongxing Technology has poor reverse predictability. Overlapping area represents the amount of predictability between Zhejiang Tongxing time series from 12th of January 2023 to 23rd of December 2023 and 23rd of December 2023 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 Tongxing price movement. The serial correlation of -0.39 indicates that just about 39.0% of current Zhejiang Tongxing price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.39 | |
| Spearman Rank Test | -0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 10.95 |
Zhejiang Tongxing lagged returns against current returns
Autocorrelation, which is Zhejiang Tongxing 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 Tongxing's stock expected returns. We can calculate the autocorrelation of Zhejiang Tongxing returns to help us make a trade decision. For example, suppose you find that Zhejiang Tongxing 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 Tongxing 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 Tongxing stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zhejiang Tongxing stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zhejiang Tongxing stock over time.
Current vs Lagged Prices |
| Timeline |
Zhejiang Tongxing Lagged Returns
When evaluating Zhejiang Tongxing's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zhejiang Tongxing stock have on its future price. Zhejiang Tongxing 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 Tongxing autocorrelation shows the relationship between Zhejiang Tongxing stock current value and its past values and can show if there is a momentum factor associated with investing in Zhejiang Tongxing Technology.
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 Tongxing 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 Tongxing security.