Zhejiang Yongjin (China) Market Value
| 603995 Stock | 18.42 1.03 5.30% |
| Symbol | Zhejiang |
Zhejiang Yongjin '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 Zhejiang Yongjin'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 Zhejiang Yongjin.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Zhejiang Yongjin on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Zhejiang Yongjin Metal or generate 0.0% return on investment in Zhejiang Yongjin over 30 days. Zhejiang Yongjin is related to or competes with Zhejiang Yayi, Ye Chiu, Dalian Thermal, Lonkey Industrial, Shenyang Huitian, Hainan Mining, and Minmetals Capital. Zhejiang Yongjin is entity of China. It is traded as Stock on SHG exchange. More
Zhejiang Yongjin 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 Zhejiang Yongjin'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 Zhejiang Yongjin Metal upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.47 | |||
| Information Ratio | 0.0122 | |||
| Maximum Drawdown | 18.05 | |||
| Value At Risk | (3.76) | |||
| Potential Upside | 5.07 |
Zhejiang Yongjin Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zhejiang Yongjin's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zhejiang Yongjin's standard deviation. In reality, there are many statistical measures that can use Zhejiang Yongjin historical prices to predict the future Zhejiang Yongjin's volatility.| Risk Adjusted Performance | 0.0546 | |||
| Jensen Alpha | 0.1663 | |||
| Total Risk Alpha | (0.26) | |||
| Sortino Ratio | 0.013 | |||
| Treynor Ratio | (1.38) |
Zhejiang Yongjin Metal Backtested Returns
Zhejiang Yongjin appears to be not too volatile, given 3 months investment horizon. Zhejiang Yongjin Metal shows Sharpe Ratio of 0.0965, which attests that the company had a 0.0965% return per unit of risk over the last 3 months. We have found thirty technical indicators for Zhejiang Yongjin Metal, which you can use to evaluate the volatility of the company. Please utilize Zhejiang Yongjin's Downside Deviation of 2.47, mean deviation of 1.76, and Market Risk Adjusted Performance of (1.37) to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Zhejiang Yongjin holds a performance score of 7. The firm maintains a market beta of -0.11, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Zhejiang Yongjin are expected to decrease at a much lower rate. During the bear market, Zhejiang Yongjin is likely to outperform the market. Please check Zhejiang Yongjin's market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to make a quick decision on whether Zhejiang Yongjin's historical returns will revert.
Auto-correlation | -0.01 |
Very weak reverse predictability
Zhejiang Yongjin Metal has very weak reverse predictability. Overlapping area represents the amount of predictability between Zhejiang Yongjin time series from 24th of October 2024 to 8th of November 2024 and 8th of November 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 Zhejiang Yongjin Metal price movement. The serial correlation of -0.01 indicates that just 1.0% of current Zhejiang Yongjin price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.01 | |
| Spearman Rank Test | -0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 0.31 |
Zhejiang Yongjin Metal lagged returns against current returns
Autocorrelation, which is Zhejiang Yongjin 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 Zhejiang Yongjin's stock expected returns. We can calculate the autocorrelation of Zhejiang Yongjin returns to help us make a trade decision. For example, suppose you find that Zhejiang Yongjin 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 |
Zhejiang Yongjin 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 Zhejiang Yongjin stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zhejiang Yongjin stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zhejiang Yongjin stock over time.
Current vs Lagged Prices |
| Timeline |
Zhejiang Yongjin Lagged Returns
When evaluating Zhejiang Yongjin's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zhejiang Yongjin stock have on its future price. Zhejiang Yongjin 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, Zhejiang Yongjin autocorrelation shows the relationship between Zhejiang Yongjin stock current value and its past values and can show if there is a momentum factor associated with investing in Zhejiang Yongjin Metal.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Zhejiang Stock
Zhejiang Yongjin financial ratios help investors to determine whether Zhejiang 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 Zhejiang with respect to the benefits of owning Zhejiang Yongjin security.