Sobute New (China) Market Value
| 603916 Stock | 7.43 0.07 0.95% |
| Symbol | Sobute |
Sobute New '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 Sobute New'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 Sobute New.
| 09/03/2024 |
| 01/31/2025 |
If you would invest 0.00 in Sobute New on September 3, 2024 and sell it all today you would earn a total of 0.00 from holding Sobute New Materials or generate 0.0% return on investment in Sobute New over 150 days. Sobute New is related to or competes with Zijin Mining, Wanhua Chemical, Baoshan Iron, Shandong Gold, Rongsheng Petrochemical, Inner Mongolia, and Jiangxi Ganfeng. Sobute New is entity of China. It is traded as Stock on SHG exchange. More
Sobute New 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 Sobute New'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 Sobute New Materials upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 8.01 | |||
| Value At Risk | (3.26) | |||
| Potential Upside | 2.23 |
Sobute New Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sobute New's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sobute New's standard deviation. In reality, there are many statistical measures that can use Sobute New historical prices to predict the future Sobute New's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.29) | |||
| Treynor Ratio | (0.50) |
Sobute New Materials Backtested Returns
Sobute New Materials owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0961, which indicates the firm had a -0.0961 % return per unit of risk over the last 3 months. Sobute New Materials exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sobute New's Risk Adjusted Performance of (0.04), variance of 2.98, and Coefficient Of Variation of (1,850) to confirm the risk estimate we provide. The entity has a beta of 0.21, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Sobute New's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sobute New is expected to be smaller as well. At this point, Sobute New Materials has a negative expected return of -0.16%. Please make sure to validate Sobute New's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Sobute New Materials performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.69 |
Very good reverse predictability
Sobute New Materials has very good reverse predictability. Overlapping area represents the amount of predictability between Sobute New time series from 3rd of September 2024 to 17th of November 2024 and 17th of November 2024 to 31st of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Sobute New Materials price movement. The serial correlation of -0.69 indicates that around 69.0% of current Sobute New price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.69 | |
| Spearman Rank Test | -0.82 | |
| Residual Average | 0.0 | |
| Price Variance | 0.26 |
Sobute New Materials lagged returns against current returns
Autocorrelation, which is Sobute New 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 Sobute New's stock expected returns. We can calculate the autocorrelation of Sobute New returns to help us make a trade decision. For example, suppose you find that Sobute New 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 |
Sobute New 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 Sobute New stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sobute New stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sobute New stock over time.
Current vs Lagged Prices |
| Timeline |
Sobute New Lagged Returns
When evaluating Sobute New's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sobute New stock have on its future price. Sobute New 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, Sobute New autocorrelation shows the relationship between Sobute New stock current value and its past values and can show if there is a momentum factor associated with investing in Sobute New Materials.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Sobute Stock
Sobute New financial ratios help investors to determine whether Sobute 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 Sobute with respect to the benefits of owning Sobute New security.