Qijing Machinery (China) Market Value
| 603677 Stock | 12.65 0.90 6.64% |
| Symbol | Qijing |
Qijing Machinery '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 Qijing Machinery'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 Qijing Machinery.
| 08/01/2023 |
| 11/23/2024 |
If you would invest 0.00 in Qijing Machinery on August 1, 2023 and sell it all today you would earn a total of 0.00 from holding Qijing Machinery or generate 0.0% return on investment in Qijing Machinery over 480 days. Qijing Machinery is related to or competes with Ming Yang, Loctek Ergonomic, Xiamen East, Hi Trend, Changchun Faway, Hunan Nanling, and Shandong Ruifeng. Qijing Machinery is entity of China. It is traded as Stock on SHG exchange. More
Qijing Machinery 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 Qijing Machinery'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 Qijing Machinery upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.95 | |||
| Information Ratio | 0.0844 | |||
| Maximum Drawdown | 15.0 | |||
| Value At Risk | (4.93) | |||
| Potential Upside | 4.42 |
Qijing Machinery Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Qijing Machinery's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Qijing Machinery's standard deviation. In reality, there are many statistical measures that can use Qijing Machinery historical prices to predict the future Qijing Machinery's volatility.| Risk Adjusted Performance | 0.1009 | |||
| Jensen Alpha | 0.4072 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | 0.0819 | |||
| Treynor Ratio | (0.51) |
Qijing Machinery Backtested Returns
Qijing Machinery appears to be somewhat reliable, given 3 months investment horizon. Qijing Machinery maintains Sharpe Ratio (i.e., Efficiency) of 0.16, which implies the firm had a 0.16% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Qijing Machinery, which you can use to evaluate the volatility of the company. Please evaluate Qijing Machinery's Coefficient Of Variation of 815.38, risk adjusted performance of 0.1009, and Semi Deviation of 2.58 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Qijing Machinery holds a performance score of 12. The company holds a Beta of -0.66, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Qijing Machinery are expected to decrease at a much lower rate. During the bear market, Qijing Machinery is likely to outperform the market. Please check Qijing Machinery's coefficient of variation, jensen alpha, and the relationship between the downside deviation and standard deviation , to make a quick decision on whether Qijing Machinery's historical price patterns will revert.
Auto-correlation | -0.51 |
Good reverse predictability
Qijing Machinery has good reverse predictability. Overlapping area represents the amount of predictability between Qijing Machinery time series from 1st of August 2023 to 28th of March 2024 and 28th of March 2024 to 23rd 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 Qijing Machinery price movement. The serial correlation of -0.51 indicates that about 51.0% of current Qijing Machinery price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.51 | |
| Spearman Rank Test | 0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 1.25 |
Qijing Machinery lagged returns against current returns
Autocorrelation, which is Qijing Machinery 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 Qijing Machinery's stock expected returns. We can calculate the autocorrelation of Qijing Machinery returns to help us make a trade decision. For example, suppose you find that Qijing Machinery 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 |
Qijing Machinery 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 Qijing Machinery stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Qijing Machinery stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Qijing Machinery stock over time.
Current vs Lagged Prices |
| Timeline |
Qijing Machinery Lagged Returns
When evaluating Qijing Machinery's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Qijing Machinery stock have on its future price. Qijing Machinery 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, Qijing Machinery autocorrelation shows the relationship between Qijing Machinery stock current value and its past values and can show if there is a momentum factor associated with investing in Qijing Machinery.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Qijing Stock
Qijing Machinery financial ratios help investors to determine whether Qijing 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 Qijing with respect to the benefits of owning Qijing Machinery security.