Milkyway Chemical (China) Market Value
| 603713 Stock | 55.22 1.70 2.99% |
| Symbol | Milkyway |
Milkyway Chemical '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 Milkyway Chemical'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 Milkyway Chemical.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Milkyway Chemical on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Milkyway Chemical Supply or generate 0.0% return on investment in Milkyway Chemical over 30 days. Milkyway Chemical is related to or competes with Cultural Investment, Gome Telecom, Bus Online, Holitech Technology, and Zotye Automobile. Milkyway Chemical is entity of China. It is traded as Stock on SHG exchange. More
Milkyway Chemical 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 Milkyway Chemical'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 Milkyway Chemical Supply upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.95 | |||
| Information Ratio | 0.0943 | |||
| Maximum Drawdown | 19.42 | |||
| Value At Risk | (4.52) | |||
| Potential Upside | 6.05 |
Milkyway Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Milkyway Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Milkyway Chemical's standard deviation. In reality, there are many statistical measures that can use Milkyway Chemical historical prices to predict the future Milkyway Chemical's volatility.| Risk Adjusted Performance | 0.1104 | |||
| Jensen Alpha | 0.4133 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | 0.1006 | |||
| Treynor Ratio | (31.43) |
Milkyway Chemical Supply Backtested Returns
Milkyway Chemical appears to be very steady, given 3 months investment horizon. Milkyway Chemical Supply has Sharpe Ratio of 0.14, which conveys that the firm had a 0.14% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Milkyway Chemical, which you can use to evaluate the volatility of the firm. Please exercise Milkyway Chemical's Mean Deviation of 2.28, risk adjusted performance of 0.1104, and Downside Deviation of 2.95 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Milkyway Chemical holds a performance score of 10. The company secures a Beta (Market Risk) of -0.0131, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Milkyway Chemical are expected to decrease at a much lower rate. During the bear market, Milkyway Chemical is likely to outperform the market. Please check Milkyway Chemical's semi deviation, coefficient of variation, jensen alpha, as well as the relationship between the downside deviation and information ratio , to make a quick decision on whether Milkyway Chemical's current price movements will revert.
Auto-correlation | -0.61 |
Very good reverse predictability
Milkyway Chemical Supply has very good reverse predictability. Overlapping area represents the amount of predictability between Milkyway Chemical time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 Milkyway Chemical Supply price movement. The serial correlation of -0.61 indicates that roughly 61.0% of current Milkyway Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.61 | |
| Spearman Rank Test | -0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 1.46 |
Milkyway Chemical Supply lagged returns against current returns
Autocorrelation, which is Milkyway Chemical 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 Milkyway Chemical's stock expected returns. We can calculate the autocorrelation of Milkyway Chemical returns to help us make a trade decision. For example, suppose you find that Milkyway Chemical 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 |
Milkyway Chemical 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 Milkyway Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Milkyway Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Milkyway Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
Milkyway Chemical Lagged Returns
When evaluating Milkyway Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Milkyway Chemical stock have on its future price. Milkyway Chemical 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, Milkyway Chemical autocorrelation shows the relationship between Milkyway Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in Milkyway Chemical Supply.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Milkyway Stock
Milkyway Chemical financial ratios help investors to determine whether Milkyway 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 Milkyway with respect to the benefits of owning Milkyway Chemical security.