Cango Inc Stock Market Value
| CANG Stock | USD 3.95 0.14 3.67% |
| Symbol | Cango |
Cango Inc Price To Book Ratio
Is Automotive Retail space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Cango. If investors know Cango will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Cango listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 1.923 | Earnings Share 0.19 | Revenue Per Share 2.528 | Quarterly Revenue Growth (0.92) | Return On Assets 0.0154 |
The market value of Cango Inc is measured differently than its book value, which is the value of Cango that is recorded on the company's balance sheet. Investors also form their own opinion of Cango's value that differs from its market value or its book value, called intrinsic value, which is Cango's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Cango's market value can be influenced by many factors that don't directly affect Cango's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Cango's value and its price as these two are different measures arrived at by different means. Investors typically determine if Cango is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cango's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Cango '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 Cango'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 Cango.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Cango on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Cango Inc or generate 0.0% return on investment in Cango over 30 days. Cango is related to or competes with Cars, KAR Auction, Rush Enterprises, Rush Enterprises, Sonic Automotive, Lithia Motors, and AutoNation. Cango Inc. operates an automotive transaction service platform that connects dealers, original equipment manufacturer, f... More
Cango 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 Cango'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 Cango Inc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.97 | |||
| Information Ratio | 0.2047 | |||
| Maximum Drawdown | 31.66 | |||
| Value At Risk | (6.58) | |||
| Potential Upside | 16.8 |
Cango Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cango's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cango's standard deviation. In reality, there are many statistical measures that can use Cango historical prices to predict the future Cango's volatility.| Risk Adjusted Performance | 0.1818 | |||
| Jensen Alpha | 1.25 | |||
| Total Risk Alpha | 0.4161 | |||
| Sortino Ratio | 0.3224 | |||
| Treynor Ratio | 1.1 |
Cango Inc Backtested Returns
Cango is very risky given 3 months investment horizon. Cango Inc secures Sharpe Ratio (or Efficiency) of 0.24, which signifies that the company had a 0.24% return per unit of risk over the last 3 months. We were able to interpolate twenty-nine different technical indicators, which can help you to evaluate if expected returns of 1.51% are justified by taking the suggested risk. Use Cango Risk Adjusted Performance of 0.1818, mean deviation of 4.4, and Downside Deviation of 3.97 to evaluate company specific risk that cannot be diversified away. Cango holds a performance score of 18 on a scale of zero to a hundred. The firm shows a Beta (market volatility) of 1.27, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Cango will likely underperform. Use Cango total risk alpha, downside variance, daily balance of power, as well as the relationship between the maximum drawdown and skewness , to analyze future returns on Cango.
Auto-correlation | 0.06 |
Virtually no predictability
Cango Inc has virtually no predictability. Overlapping area represents the amount of predictability between Cango time series from 27th of October 2024 to 11th of November 2024 and 11th of November 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 Cango Inc price movement. The serial correlation of 0.06 indicates that barely 6.0% of current Cango price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.06 | |
| Spearman Rank Test | 0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Cango Inc lagged returns against current returns
Autocorrelation, which is Cango 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 Cango's stock expected returns. We can calculate the autocorrelation of Cango returns to help us make a trade decision. For example, suppose you find that Cango 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 |
Cango 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 Cango stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cango stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cango stock over time.
Current vs Lagged Prices |
| Timeline |
Cango Lagged Returns
When evaluating Cango's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cango stock have on its future price. Cango 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, Cango autocorrelation shows the relationship between Cango stock current value and its past values and can show if there is a momentum factor associated with investing in Cango Inc.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
When determining whether Cango Inc is a strong investment it is important to analyze Cango's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Cango's future performance. For an informed investment choice regarding Cango Stock, refer to the following important reports:Check out Cango Correlation, Cango Volatility and Cango Alpha and Beta module to complement your research on Cango. You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Cango technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.