Kanoria Chemicals (India) Market Value
| KANORICHEM | 114.67 2.94 2.63% |
| Symbol | Kanoria |
Kanoria Chemicals '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 Kanoria Chemicals' 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 Kanoria Chemicals.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Kanoria Chemicals on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Kanoria Chemicals Industries or generate 0.0% return on investment in Kanoria Chemicals over 30 days. Kanoria Chemicals is related to or competes with Embassy Office, and JTL Industries. Kanoria Chemicals is entity of India. It is traded as Stock on NSE exchange. More
Kanoria Chemicals 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 Kanoria Chemicals' 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 Kanoria Chemicals Industries upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.3 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 25.87 | |||
| Value At Risk | (6.10) | |||
| Potential Upside | 7.96 |
Kanoria Chemicals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kanoria Chemicals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kanoria Chemicals' standard deviation. In reality, there are many statistical measures that can use Kanoria Chemicals historical prices to predict the future Kanoria Chemicals' volatility.| Risk Adjusted Performance | 0.0088 | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.65) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | (0.01) |
Kanoria Chemicals Backtested Returns
Kanoria Chemicals has Sharpe Ratio of -0.0213, which conveys that the firm had a -0.0213% return per unit of risk over the last 3 months. Kanoria Chemicals exposes thirty different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Kanoria Chemicals' Downside Deviation of 3.3, risk adjusted performance of 0.0088, and Mean Deviation of 2.87 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.52, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Kanoria Chemicals' returns are expected to increase less than the market. However, during the bear market, the loss of holding Kanoria Chemicals is expected to be smaller as well. At this point, Kanoria Chemicals has a negative expected return of -0.0879%. Please make sure to verify Kanoria Chemicals' expected short fall, and the relationship between the maximum drawdown and rate of daily change , to decide if Kanoria Chemicals performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.55 |
Good reverse predictability
Kanoria Chemicals Industries has good reverse predictability. Overlapping area represents the amount of predictability between Kanoria Chemicals time series from 28th of October 2024 to 12th of November 2024 and 12th of November 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 Kanoria Chemicals price movement. The serial correlation of -0.55 indicates that about 55.0% of current Kanoria Chemicals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.55 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 25.34 |
Kanoria Chemicals lagged returns against current returns
Autocorrelation, which is Kanoria Chemicals 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 Kanoria Chemicals' stock expected returns. We can calculate the autocorrelation of Kanoria Chemicals returns to help us make a trade decision. For example, suppose you find that Kanoria Chemicals 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 |
Kanoria Chemicals 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 Kanoria Chemicals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kanoria Chemicals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kanoria Chemicals stock over time.
Current vs Lagged Prices |
| Timeline |
Kanoria Chemicals Lagged Returns
When evaluating Kanoria Chemicals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kanoria Chemicals stock have on its future price. Kanoria Chemicals 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, Kanoria Chemicals autocorrelation shows the relationship between Kanoria Chemicals stock current value and its past values and can show if there is a momentum factor associated with investing in Kanoria Chemicals Industries.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Kanoria Stock
Kanoria Chemicals financial ratios help investors to determine whether Kanoria 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 Kanoria with respect to the benefits of owning Kanoria Chemicals security.