Changjiang Jinggong (China) Market Value
| 600496 Stock | 2.99 0.12 3.86% |
| Symbol | Changjiang |
Changjiang Jinggong '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 Changjiang Jinggong'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 Changjiang Jinggong.
| 12/03/2022 |
| 11/22/2024 |
If you would invest 0.00 in Changjiang Jinggong on December 3, 2022 and sell it all today you would earn a total of 0.00 from holding Changjiang Jinggong Steel or generate 0.0% return on investment in Changjiang Jinggong over 720 days. Changjiang Jinggong is related to or competes with Ping An, Northern United, Shanghai Action, Beijing Yanjing, Nanjing Putian, Chinese Universe, and Songz Automobile. Changjiang Jinggong is entity of China. It is traded as Stock on SHG exchange. More
Changjiang Jinggong 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 Changjiang Jinggong'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 Changjiang Jinggong Steel upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.23 | |||
| Information Ratio | 0.1037 | |||
| Maximum Drawdown | 16.58 | |||
| Value At Risk | (2.73) | |||
| Potential Upside | 3.77 |
Changjiang Jinggong Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Changjiang Jinggong's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Changjiang Jinggong's standard deviation. In reality, there are many statistical measures that can use Changjiang Jinggong historical prices to predict the future Changjiang Jinggong's volatility.| Risk Adjusted Performance | 0.1218 | |||
| Jensen Alpha | 0.4065 | |||
| Total Risk Alpha | 0.0376 | |||
| Sortino Ratio | 0.1082 | |||
| Treynor Ratio | (0.51) |
Changjiang Jinggong Steel Backtested Returns
Changjiang Jinggong appears to be relatively risky, given 3 months investment horizon. Changjiang Jinggong Steel secures Sharpe Ratio (or Efficiency) of 0.2, which signifies that the company had a 0.2% return per unit of standard deviation over the last 3 months. We have found twenty-eight technical indicators for Changjiang Jinggong Steel, which you can use to evaluate the volatility of the firm. Please makes use of Changjiang Jinggong's risk adjusted performance of 0.1218, and Mean Deviation of 1.66 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Changjiang Jinggong holds a performance score of 15. The firm shows a Beta (market volatility) of -0.67, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Changjiang Jinggong are expected to decrease at a much lower rate. During the bear market, Changjiang Jinggong is likely to outperform the market. Please check Changjiang Jinggong's downside deviation, information ratio, and the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Changjiang Jinggong's price patterns will revert.
Auto-correlation | 0.09 |
Virtually no predictability
Changjiang Jinggong Steel has virtually no predictability. Overlapping area represents the amount of predictability between Changjiang Jinggong time series from 3rd of December 2022 to 28th of November 2023 and 28th of November 2023 to 22nd 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 Changjiang Jinggong Steel price movement. The serial correlation of 0.09 indicates that less than 9.0% of current Changjiang Jinggong price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.09 | |
| Spearman Rank Test | 0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.07 |
Changjiang Jinggong Steel lagged returns against current returns
Autocorrelation, which is Changjiang Jinggong 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 Changjiang Jinggong's stock expected returns. We can calculate the autocorrelation of Changjiang Jinggong returns to help us make a trade decision. For example, suppose you find that Changjiang Jinggong 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 |
Changjiang Jinggong 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 Changjiang Jinggong stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Changjiang Jinggong stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Changjiang Jinggong stock over time.
Current vs Lagged Prices |
| Timeline |
Changjiang Jinggong Lagged Returns
When evaluating Changjiang Jinggong's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Changjiang Jinggong stock have on its future price. Changjiang Jinggong 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, Changjiang Jinggong autocorrelation shows the relationship between Changjiang Jinggong stock current value and its past values and can show if there is a momentum factor associated with investing in Changjiang Jinggong Steel.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Changjiang Stock
Changjiang Jinggong financial ratios help investors to determine whether Changjiang 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 Changjiang with respect to the benefits of owning Changjiang Jinggong security.