Harbin Air (China) Market Value
| 600202 Stock | 5.04 0.23 4.78% |
| Symbol | Harbin |
Harbin Air '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 Harbin Air'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 Harbin Air.
| 09/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Harbin Air on September 26, 2024 and sell it all today you would earn a total of 0.00 from holding Harbin Air Conditioning or generate 0.0% return on investment in Harbin Air over 60 days. Harbin Air is related to or competes with Agricultural Bank, Industrial, Bank of China, China Construction, China Merchants, PetroChina, and Industrial Bank. Harbin Air is entity of China. It is traded as Stock on SHG exchange. More
Harbin Air 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 Harbin Air'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 Harbin Air Conditioning upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.54 | |||
| Information Ratio | 0.1167 | |||
| Maximum Drawdown | 16.99 | |||
| Value At Risk | (2.83) | |||
| Potential Upside | 3.35 |
Harbin Air Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Harbin Air's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Harbin Air's standard deviation. In reality, there are many statistical measures that can use Harbin Air historical prices to predict the future Harbin Air's volatility.| Risk Adjusted Performance | 0.1368 | |||
| Jensen Alpha | 0.4396 | |||
| Total Risk Alpha | 0.0196 | |||
| Sortino Ratio | 0.1142 | |||
| Treynor Ratio | (1.70) |
Harbin Air Conditioning Backtested Returns
Harbin Air appears to be slightly risky, given 3 months investment horizon. Harbin Air Conditioning holds Efficiency (Sharpe) Ratio of 0.25, which attests that the entity had a 0.25% return per unit of risk over the last 3 months. By evaluating Harbin Air's technical indicators, you can evaluate if the expected return of 0.62% is justified by implied risk. Please utilize Harbin Air's Risk Adjusted Performance of 0.1368, downside deviation of 2.54, and Market Risk Adjusted Performance of (1.69) to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Harbin Air holds a performance score of 19. The company retains a Market Volatility (i.e., Beta) of -0.24, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Harbin Air are expected to decrease at a much lower rate. During the bear market, Harbin Air is likely to outperform the market. Please check Harbin Air's standard deviation, total risk alpha, treynor ratio, as well as the relationship between the jensen alpha and sortino ratio , to make a quick decision on whether Harbin Air's current trending patterns will revert.
Auto-correlation | -0.11 |
Insignificant reverse predictability
Harbin Air Conditioning has insignificant reverse predictability. Overlapping area represents the amount of predictability between Harbin Air time series from 26th of September 2024 to 26th of October 2024 and 26th of October 2024 to 25th 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 Harbin Air Conditioning price movement. The serial correlation of -0.11 indicates that less than 11.0% of current Harbin Air price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.11 | |
| Spearman Rank Test | 0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Harbin Air Conditioning lagged returns against current returns
Autocorrelation, which is Harbin Air 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 Harbin Air's stock expected returns. We can calculate the autocorrelation of Harbin Air returns to help us make a trade decision. For example, suppose you find that Harbin Air 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 |
Harbin Air 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 Harbin Air stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Harbin Air stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Harbin Air stock over time.
Current vs Lagged Prices |
| Timeline |
Harbin Air Lagged Returns
When evaluating Harbin Air's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Harbin Air stock have on its future price. Harbin Air 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, Harbin Air autocorrelation shows the relationship between Harbin Air stock current value and its past values and can show if there is a momentum factor associated with investing in Harbin Air Conditioning.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Harbin Stock
Harbin Air financial ratios help investors to determine whether Harbin 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 Harbin with respect to the benefits of owning Harbin Air security.