Zijin Mining Group Stock Market Value
| ZIJMY Stock | USD 38.10 0.68 1.82% |
| Symbol | Zijin |
Zijin Mining '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 Zijin Mining's pink sheet 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 Zijin Mining.
| 08/29/2024 |
| 11/27/2024 |
If you would invest 0.00 in Zijin Mining on August 29, 2024 and sell it all today you would earn a total of 0.00 from holding Zijin Mining Group or generate 0.0% return on investment in Zijin Mining over 90 days. Zijin Mining is related to or competes with AngloGold Ashanti, Harmony Gold, Eldorado Gold, Kinross Gold, Pan American, Agnico Eagle, and Wheaton Precious. Zijin Mining Group Company Limited, together with its subsidiaries, engages in prospecting, exploration, and mining mine... More
Zijin Mining 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 Zijin Mining's pink sheet 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 Zijin Mining Group upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 27.48 | |||
| Value At Risk | (5.69) | |||
| Potential Upside | 5.47 |
Zijin Mining Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zijin Mining's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zijin Mining's standard deviation. In reality, there are many statistical measures that can use Zijin Mining historical prices to predict the future Zijin Mining's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.69) | |||
| Treynor Ratio | 0.5346 |
Zijin Mining Group Backtested Returns
Zijin Mining Group shows Sharpe Ratio of -0.0231, which attests that the company had a -0.0231% return per unit of risk over the last 3 months. Zijin Mining Group exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Zijin Mining's Mean Deviation of 2.2, market risk adjusted performance of 0.5446, and Standard Deviation of 3.76 to validate the risk estimate we provide. The firm maintains a market beta of -0.18, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Zijin Mining are expected to decrease at a much lower rate. During the bear market, Zijin Mining is likely to outperform the market. At this point, Zijin Mining Group has a negative expected return of -0.0869%. Please make sure to check out Zijin Mining's total risk alpha, kurtosis, as well as the relationship between the Kurtosis and market facilitation index , to decide if Zijin Mining Group performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.79 |
Almost perfect reverse predictability
Zijin Mining Group has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Zijin Mining time series from 29th of August 2024 to 13th of October 2024 and 13th of October 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 Zijin Mining Group price movement. The serial correlation of -0.79 indicates that around 79.0% of current Zijin Mining price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.79 | |
| Spearman Rank Test | -0.59 | |
| Residual Average | 0.0 | |
| Price Variance | 6.84 |
Zijin Mining Group lagged returns against current returns
Autocorrelation, which is Zijin Mining pink sheet'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 Zijin Mining's pink sheet expected returns. We can calculate the autocorrelation of Zijin Mining returns to help us make a trade decision. For example, suppose you find that Zijin Mining has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Zijin Mining 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 Zijin Mining pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zijin Mining pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zijin Mining pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Zijin Mining Lagged Returns
When evaluating Zijin Mining's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zijin Mining pink sheet have on its future price. Zijin Mining 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, Zijin Mining autocorrelation shows the relationship between Zijin Mining pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Zijin Mining Group.
Regressed Prices |
| Timeline |
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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.Additional Tools for Zijin Pink Sheet Analysis
When running Zijin Mining's price analysis, check to measure Zijin Mining's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Zijin Mining is operating at the current time. Most of Zijin Mining's value examination focuses on studying past and present price action to predict the probability of Zijin Mining's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Zijin Mining's price. Additionally, you may evaluate how the addition of Zijin Mining to your portfolios can decrease your overall portfolio volatility.