Zhende Medical (China) Market Value
| 603301 Stock | 22.64 0.06 0.27% |
| Symbol | Zhende |
Zhende Medical '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 Zhende Medical'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 Zhende Medical.
| 01/31/2024 |
| 11/26/2024 |
If you would invest 0.00 in Zhende Medical on January 31, 2024 and sell it all today you would earn a total of 0.00 from holding Zhende Medical Co or generate 0.0% return on investment in Zhende Medical over 300 days. Zhende Medical is related to or competes with Bank of China, Kweichow Moutai, PetroChina, Bank of Communications, Ping An, China Mobile, and Shanghai Pudong. Zhende Medical is entity of China. It is traded as Stock on SHG exchange. More
Zhende Medical 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 Zhende Medical'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 Zhende Medical Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.55 | |||
| Information Ratio | 0.015 | |||
| Maximum Drawdown | 19.14 | |||
| Value At Risk | (2.60) | |||
| Potential Upside | 3.13 |
Zhende Medical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zhende Medical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zhende Medical's standard deviation. In reality, there are many statistical measures that can use Zhende Medical historical prices to predict the future Zhende Medical's volatility.| Risk Adjusted Performance | 0.0602 | |||
| Jensen Alpha | 0.2167 | |||
| Total Risk Alpha | (0.21) | |||
| Sortino Ratio | 0.0137 | |||
| Treynor Ratio | (0.29) |
Zhende Medical Backtested Returns
Zhende Medical appears to be not too volatile, given 3 months investment horizon. Zhende Medical shows Sharpe Ratio of 0.0946, which attests that the company had a 0.0946% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Zhende Medical, which you can use to evaluate the volatility of the company. Please utilize Zhende Medical's Downside Deviation of 2.55, mean deviation of 1.46, and Market Risk Adjusted Performance of (0.28) to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Zhende Medical holds a performance score of 7. The firm maintains a market beta of -0.53, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Zhende Medical are expected to decrease at a much lower rate. During the bear market, Zhende Medical is likely to outperform the market. Please check Zhende Medical's semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to make a quick decision on whether Zhende Medical's historical returns will revert.
Auto-correlation | 0.16 |
Very weak predictability
Zhende Medical Co has very weak predictability. Overlapping area represents the amount of predictability between Zhende Medical time series from 31st of January 2024 to 29th of June 2024 and 29th of June 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 Zhende Medical price movement. The serial correlation of 0.16 indicates that over 16.0% of current Zhende Medical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.16 | |
| Spearman Rank Test | 0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 1.64 |
Zhende Medical lagged returns against current returns
Autocorrelation, which is Zhende Medical 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 Zhende Medical's stock expected returns. We can calculate the autocorrelation of Zhende Medical returns to help us make a trade decision. For example, suppose you find that Zhende Medical 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 |
Zhende Medical 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 Zhende Medical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zhende Medical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zhende Medical stock over time.
Current vs Lagged Prices |
| Timeline |
Zhende Medical Lagged Returns
When evaluating Zhende Medical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zhende Medical stock have on its future price. Zhende Medical 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, Zhende Medical autocorrelation shows the relationship between Zhende Medical stock current value and its past values and can show if there is a momentum factor associated with investing in Zhende Medical Co.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Zhende Stock
Zhende Medical financial ratios help investors to determine whether Zhende 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 Zhende with respect to the benefits of owning Zhende Medical security.