Western Mining (China) Market Value
| 601168 Stock | 17.54 0.05 0.29% |
| Symbol | Western |
Western Mining '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 Western Mining'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 Western Mining.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Western Mining on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Western Mining Co or generate 0.0% return on investment in Western Mining over 30 days. Western Mining is related to or competes with Zijin Mining, Wanhua Chemical, Baoshan Iron, Rongsheng Petrochemical, Shandong Gold, Inner Mongolia, and Jiangxi Ganfeng. Western Mining is entity of China. It is traded as Stock on SHG exchange. More
Western Mining 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 Western Mining'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 Western Mining Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.15 | |||
| Information Ratio | 0.0341 | |||
| Maximum Drawdown | 12.98 | |||
| Value At Risk | (3.38) | |||
| Potential Upside | 4.54 |
Western Mining Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Western Mining's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Western Mining's standard deviation. In reality, there are many statistical measures that can use Western Mining historical prices to predict the future Western Mining's volatility.| Risk Adjusted Performance | 0.0674 | |||
| Jensen Alpha | 0.1843 | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | 0.0384 | |||
| Treynor Ratio | (7.33) |
Western Mining Backtested Returns
Western Mining appears to be not too volatile, given 3 months investment horizon. Western Mining shows Sharpe Ratio of 0.087, which attests that the company had a 0.087% return per unit of risk over the last 3 months. We have found thirty technical indicators for Western Mining, which you can use to evaluate the volatility of the company. Please utilize Western Mining's Downside Deviation of 2.15, mean deviation of 1.86, and Market Risk Adjusted Performance of (7.32) to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Western Mining holds a performance score of 6. The firm maintains a market beta of -0.0248, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Western Mining are expected to decrease at a much lower rate. During the bear market, Western Mining is likely to outperform the market. Please check Western Mining's total risk alpha, treynor ratio, and the relationship between the jensen alpha and sortino ratio , to make a quick decision on whether Western Mining's historical returns will revert.
Auto-correlation | -0.26 |
Weak reverse predictability
Western Mining Co has weak reverse predictability. Overlapping area represents the amount of predictability between Western Mining time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 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 Western Mining price movement. The serial correlation of -0.26 indicates that nearly 26.0% of current Western Mining price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.26 | |
| Spearman Rank Test | -0.85 | |
| Residual Average | 0.0 | |
| Price Variance | 0.28 |
Western Mining lagged returns against current returns
Autocorrelation, which is Western Mining 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 Western Mining's stock expected returns. We can calculate the autocorrelation of Western Mining returns to help us make a trade decision. For example, suppose you find that Western Mining 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 |
Western Mining 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 Western Mining stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Western Mining stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Western Mining stock over time.
Current vs Lagged Prices |
| Timeline |
Western Mining Lagged Returns
When evaluating Western Mining's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Western Mining stock have on its future price. Western Mining 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, Western Mining autocorrelation shows the relationship between Western Mining stock current value and its past values and can show if there is a momentum factor associated with investing in Western Mining Co.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Western Stock
Western Mining financial ratios help investors to determine whether Western 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 Western with respect to the benefits of owning Western Mining security.