CareRay Digital (China) Market Value
| 688607 Stock | 14.82 0.21 1.40% |
| Symbol | CareRay |
CareRay Digital '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 CareRay Digital'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 CareRay Digital.
| 12/03/2023 |
| 11/27/2024 |
If you would invest 0.00 in CareRay Digital on December 3, 2023 and sell it all today you would earn a total of 0.00 from holding CareRay Digital Medical or generate 0.0% return on investment in CareRay Digital over 360 days. CareRay Digital is related to or competes with Bank of China, Kweichow Moutai, PetroChina, Bank of Communications, Ping An, China Mobile, and Shanghai Pudong. CareRay Digital is entity of China. It is traded as Stock on SHG exchange. More
CareRay Digital 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 CareRay Digital'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 CareRay Digital Medical upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.93 | |||
| Information Ratio | 0.1209 | |||
| Maximum Drawdown | 19.31 | |||
| Value At Risk | (4.51) | |||
| Potential Upside | 5.33 |
CareRay Digital Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CareRay Digital's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CareRay Digital's standard deviation. In reality, there are many statistical measures that can use CareRay Digital historical prices to predict the future CareRay Digital's volatility.| Risk Adjusted Performance | 0.1295 | |||
| Jensen Alpha | 0.5713 | |||
| Total Risk Alpha | 0.0039 | |||
| Sortino Ratio | 0.1379 | |||
| Treynor Ratio | (1.26) |
CareRay Digital Medical Backtested Returns
CareRay Digital appears to be somewhat reliable, given 3 months investment horizon. CareRay Digital Medical secures Sharpe Ratio (or Efficiency) of 0.18, which signifies that the company had a 0.18% return per unit of risk over the last 3 months. By analyzing CareRay Digital's technical indicators, you can evaluate if the expected return of 0.62% is justified by implied risk. Please makes use of CareRay Digital's Risk Adjusted Performance of 0.1295, mean deviation of 2.51, and Downside Deviation of 2.93 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, CareRay Digital holds a performance score of 14. The firm shows a Beta (market volatility) of -0.41, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning CareRay Digital are expected to decrease at a much lower rate. During the bear market, CareRay Digital is likely to outperform the market. Please check CareRay Digital's total risk alpha, treynor ratio, and the relationship between the jensen alpha and sortino ratio , to make a quick decision on whether CareRay Digital's price patterns will revert.
Auto-correlation | -0.07 |
Very weak reverse predictability
CareRay Digital Medical has very weak reverse predictability. Overlapping area represents the amount of predictability between CareRay Digital time series from 3rd of December 2023 to 31st of May 2024 and 31st of May 2024 to 27th 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 CareRay Digital Medical price movement. The serial correlation of -0.07 indicates that barely 7.0% of current CareRay Digital price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.07 | |
| Spearman Rank Test | -0.4 | |
| Residual Average | 0.0 | |
| Price Variance | 2.51 |
CareRay Digital Medical lagged returns against current returns
Autocorrelation, which is CareRay Digital 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 CareRay Digital's stock expected returns. We can calculate the autocorrelation of CareRay Digital returns to help us make a trade decision. For example, suppose you find that CareRay Digital 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 |
CareRay Digital 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 CareRay Digital stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CareRay Digital stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CareRay Digital stock over time.
Current vs Lagged Prices |
| Timeline |
CareRay Digital Lagged Returns
When evaluating CareRay Digital's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CareRay Digital stock have on its future price. CareRay Digital 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, CareRay Digital autocorrelation shows the relationship between CareRay Digital stock current value and its past values and can show if there is a momentum factor associated with investing in CareRay Digital Medical.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in CareRay Stock
CareRay Digital financial ratios help investors to determine whether CareRay 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 CareRay with respect to the benefits of owning CareRay Digital security.