RangDong Plastic (Vietnam) Market Value
| RDP Stock | 1,290 80.00 5.84% |
| Symbol | RangDong |
RangDong Plastic '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 RangDong Plastic'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 RangDong Plastic.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in RangDong Plastic on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding RangDong Plastic JSC or generate 0.0% return on investment in RangDong Plastic over 30 days. RangDong Plastic is related to or competes with FIT INVEST, Damsan JSC, An Phat, Alphanam, APG Securities, Binhthuan Agriculture, and Mekong Fisheries. More
RangDong Plastic 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 RangDong Plastic'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 RangDong Plastic JSC upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.38) | |||
| Maximum Drawdown | 13.95 | |||
| Value At Risk | (6.37) | |||
| Potential Upside | 3.04 |
RangDong Plastic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for RangDong Plastic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as RangDong Plastic's standard deviation. In reality, there are many statistical measures that can use RangDong Plastic historical prices to predict the future RangDong Plastic's volatility.| Risk Adjusted Performance | (0.25) | |||
| Jensen Alpha | (1.00) | |||
| Total Risk Alpha | (1.46) | |||
| Treynor Ratio | (29.25) |
RangDong Plastic JSC Backtested Returns
RangDong Plastic JSC maintains Sharpe Ratio (i.e., Efficiency) of -0.33, which implies the firm had a -0.33% return per unit of risk over the last 3 months. RangDong Plastic JSC exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check RangDong Plastic's Coefficient Of Variation of (295.88), risk adjusted performance of (0.25), and Variance of 8.59 to confirm the risk estimate we provide. The company holds a Beta of 0.0342, which implies not very significant fluctuations relative to the market. As returns on the market increase, RangDong Plastic's returns are expected to increase less than the market. However, during the bear market, the loss of holding RangDong Plastic is expected to be smaller as well. At this point, RangDong Plastic JSC has a negative expected return of -0.99%. Please make sure to check RangDong Plastic's skewness, as well as the relationship between the rate of daily change and price action indicator , to decide if RangDong Plastic JSC performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.49 |
Average predictability
RangDong Plastic JSC has average predictability. Overlapping area represents the amount of predictability between RangDong Plastic 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 RangDong Plastic JSC price movement. The serial correlation of 0.49 indicates that about 49.0% of current RangDong Plastic price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.49 | |
| Spearman Rank Test | 0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 39.8 K |
RangDong Plastic JSC lagged returns against current returns
Autocorrelation, which is RangDong Plastic 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 RangDong Plastic's stock expected returns. We can calculate the autocorrelation of RangDong Plastic returns to help us make a trade decision. For example, suppose you find that RangDong Plastic 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 |
RangDong Plastic 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 RangDong Plastic stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if RangDong Plastic stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in RangDong Plastic stock over time.
Current vs Lagged Prices |
| Timeline |
RangDong Plastic Lagged Returns
When evaluating RangDong Plastic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of RangDong Plastic stock have on its future price. RangDong Plastic 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, RangDong Plastic autocorrelation shows the relationship between RangDong Plastic stock current value and its past values and can show if there is a momentum factor associated with investing in RangDong Plastic JSC.
Regressed Prices |
| Timeline |
Pair Trading with RangDong Plastic
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if RangDong Plastic position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in RangDong Plastic will appreciate offsetting losses from the drop in the long position's value.Moving together with RangDong Stock
| 0.91 | ADS | Damsan JSC | PairCorr |
| 0.93 | AAA | An Phat Plastic | PairCorr |
| 0.86 | AME | Alphanam ME | PairCorr |
| 0.69 | APG | APG Securities Joint | PairCorr |
The ability to find closely correlated positions to RangDong Plastic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RangDong Plastic when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back RangDong Plastic - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling RangDong Plastic JSC to buy it.
The correlation of RangDong Plastic is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as RangDong Plastic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if RangDong Plastic JSC moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for RangDong Plastic can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in RangDong Stock
RangDong Plastic financial ratios help investors to determine whether RangDong 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 RangDong with respect to the benefits of owning RangDong Plastic security.