IRay Technology (China) Market Value
| 688301 Stock | 112.26 3.41 3.13% |
| Symbol | IRay |
IRay Technology '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 IRay Technology'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 IRay Technology.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in IRay Technology on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding iRay Technology Co or generate 0.0% return on investment in IRay Technology over 90 days. IRay Technology is related to or competes with Guangzhou KingTeller, Maxvision Technology, Linewell Software, Bangyan Technology, Zhongtong Guomai, Dongguan Chitwing, and Vontron Technology. IRay Technology is entity of China. It is traded as Stock on SHG exchange. More
IRay Technology 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 IRay Technology'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 iRay Technology Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.54 | |||
| Information Ratio | 0.0463 | |||
| Maximum Drawdown | 29.27 | |||
| Value At Risk | (6.23) | |||
| Potential Upside | 9.87 |
IRay Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for IRay Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as IRay Technology's standard deviation. In reality, there are many statistical measures that can use IRay Technology historical prices to predict the future IRay Technology's volatility.| Risk Adjusted Performance | 0.0641 | |||
| Jensen Alpha | 0.4396 | |||
| Total Risk Alpha | (0.41) | |||
| Sortino Ratio | 0.0635 | |||
| Treynor Ratio | (0.43) |
iRay Technology Backtested Returns
IRay Technology appears to be very steady, given 3 months investment horizon. iRay Technology holds Efficiency (Sharpe) Ratio of 0.1, which attests that the entity had a 0.1% return per unit of risk over the last 3 months. By examining IRay Technology's technical indicators, you can evaluate if the expected return of 0.51% is justified by implied risk. Please utilize IRay Technology's Downside Deviation of 3.54, risk adjusted performance of 0.0641, and Market Risk Adjusted Performance of (0.42) to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, IRay Technology holds a performance score of 7. The company retains a Market Volatility (i.e., Beta) of -0.81, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning IRay Technology are expected to decrease at a much lower rate. During the bear market, IRay Technology is likely to outperform the market. Please check IRay Technology's mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether IRay Technology's current trending patterns will revert.
Auto-correlation | 0.17 |
Very weak predictability
iRay Technology Co has very weak predictability. Overlapping area represents the amount of predictability between IRay Technology time series from 28th of August 2024 to 12th of October 2024 and 12th of October 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 iRay Technology price movement. The serial correlation of 0.17 indicates that over 17.0% of current IRay Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.17 | |
| Spearman Rank Test | 0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 25.53 |
iRay Technology lagged returns against current returns
Autocorrelation, which is IRay Technology 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 IRay Technology's stock expected returns. We can calculate the autocorrelation of IRay Technology returns to help us make a trade decision. For example, suppose you find that IRay Technology 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 |
IRay Technology 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 IRay Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if IRay Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in IRay Technology stock over time.
Current vs Lagged Prices |
| Timeline |
IRay Technology Lagged Returns
When evaluating IRay Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of IRay Technology stock have on its future price. IRay Technology 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, IRay Technology autocorrelation shows the relationship between IRay Technology stock current value and its past values and can show if there is a momentum factor associated with investing in iRay Technology Co.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in IRay Stock
IRay Technology financial ratios help investors to determine whether IRay 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 IRay with respect to the benefits of owning IRay Technology security.