Kangxin New (China) Market Value
| 600076 Stock | 2.46 0.22 9.82% |
| Symbol | Kangxin |
Kangxin New '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 Kangxin New'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 Kangxin New.
| 09/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Kangxin New on September 27, 2024 and sell it all today you would earn a total of 0.00 from holding Kangxin New Materials or generate 0.0% return on investment in Kangxin New over 60 days. Kangxin New is related to or competes with Zijin Mining, Wanhua Chemical, Baoshan Iron, Shandong Gold, Rongsheng Petrochemical, Inner Mongolia, and Jiangxi Ganfeng. Kangxin New is entity of China. It is traded as Stock on SHG exchange. More
Kangxin New 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 Kangxin New'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 Kangxin New Materials upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.24 | |||
| Information Ratio | 0.1776 | |||
| Maximum Drawdown | 18.49 | |||
| Value At Risk | (3.47) | |||
| Potential Upside | 6.28 |
Kangxin New Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kangxin New's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kangxin New's standard deviation. In reality, there are many statistical measures that can use Kangxin New historical prices to predict the future Kangxin New's volatility.| Risk Adjusted Performance | 0.1738 | |||
| Jensen Alpha | 0.6874 | |||
| Total Risk Alpha | 0.1908 | |||
| Sortino Ratio | 0.1767 | |||
| Treynor Ratio | 18.8 |
Kangxin New Materials Backtested Returns
Kangxin New appears to be very risky, given 3 months investment horizon. Kangxin New Materials has Sharpe Ratio of 0.27, which conveys that the firm had a 0.27% return per unit of risk over the last 3 months. By analyzing Kangxin New's technical indicators, you can evaluate if the expected return of 0.89% is justified by implied risk. Please exercise Kangxin New's Downside Deviation of 3.24, mean deviation of 2.53, and Risk Adjusted Performance of 0.1738 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Kangxin New holds a performance score of 21. The company secures a Beta (Market Risk) of 0.0368, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Kangxin New's returns are expected to increase less than the market. However, during the bear market, the loss of holding Kangxin New is expected to be smaller as well. Please check Kangxin New's information ratio, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Kangxin New's current price movements will revert.
Auto-correlation | -0.21 |
Weak reverse predictability
Kangxin New Materials has weak reverse predictability. Overlapping area represents the amount of predictability between Kangxin New time series from 27th of September 2024 to 27th of October 2024 and 27th of October 2024 to 26th 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 Kangxin New Materials price movement. The serial correlation of -0.21 indicates that over 21.0% of current Kangxin New price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.21 | |
| Spearman Rank Test | 0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Kangxin New Materials lagged returns against current returns
Autocorrelation, which is Kangxin New 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 Kangxin New's stock expected returns. We can calculate the autocorrelation of Kangxin New returns to help us make a trade decision. For example, suppose you find that Kangxin New 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 |
Kangxin New 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 Kangxin New stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kangxin New stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kangxin New stock over time.
Current vs Lagged Prices |
| Timeline |
Kangxin New Lagged Returns
When evaluating Kangxin New's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kangxin New stock have on its future price. Kangxin New 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, Kangxin New autocorrelation shows the relationship between Kangxin New stock current value and its past values and can show if there is a momentum factor associated with investing in Kangxin New Materials.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Kangxin Stock
Kangxin New financial ratios help investors to determine whether Kangxin 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 Kangxin with respect to the benefits of owning Kangxin New security.