North Huajin (China) Market Value
| 000059 Stock | 5.31 0.09 1.67% |
| Symbol | North |
North Huajin '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 North Huajin'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 North Huajin.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in North Huajin on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding North Huajin Chemical or generate 0.0% return on investment in North Huajin over 30 days. North Huajin is related to or competes with Zijin Mining, Wanhua Chemical, Baoshan Iron, Shandong Gold, Inner Mongolia, Jiangxi Ganfeng, and Hoshine Silicon. North Huajin is entity of China. It is traded as Stock on SHE exchange. More
North Huajin 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 North Huajin'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 North Huajin Chemical upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.98 | |||
| Information Ratio | 0.1214 | |||
| Maximum Drawdown | 17.09 | |||
| Value At Risk | (4.15) | |||
| Potential Upside | 6.88 |
North Huajin Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for North Huajin's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as North Huajin's standard deviation. In reality, there are many statistical measures that can use North Huajin historical prices to predict the future North Huajin's volatility.| Risk Adjusted Performance | 0.1253 | |||
| Jensen Alpha | 0.6025 | |||
| Total Risk Alpha | 0.0547 | |||
| Sortino Ratio | 0.1415 | |||
| Treynor Ratio | (0.70) |
North Huajin Chemical Backtested Returns
North Huajin appears to be relatively risky, given 3 months investment horizon. North Huajin Chemical has Sharpe Ratio of 0.17, which conveys that the firm had a 0.17% return per unit of risk over the last 3 months. By analyzing North Huajin's technical indicators, you can evaluate if the expected return of 0.63% is justified by implied risk. Please exercise North Huajin's Mean Deviation of 2.68, downside deviation of 2.98, and Risk Adjusted Performance of 0.1253 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, North Huajin holds a performance score of 13. The company secures a Beta (Market Risk) of -0.75, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning North Huajin are expected to decrease at a much lower rate. During the bear market, North Huajin is likely to outperform the market. Please check North Huajin's coefficient of variation, jensen alpha, sortino ratio, as well as the relationship between the standard deviation and total risk alpha , to make a quick decision on whether North Huajin's current price movements will revert.
Auto-correlation | -0.34 |
Poor reverse predictability
North Huajin Chemical has poor reverse predictability. Overlapping area represents the amount of predictability between North Huajin time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th of December 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 North Huajin Chemical price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current North Huajin price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | -0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
North Huajin Chemical lagged returns against current returns
Autocorrelation, which is North Huajin 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 North Huajin's stock expected returns. We can calculate the autocorrelation of North Huajin returns to help us make a trade decision. For example, suppose you find that North Huajin 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 |
North Huajin 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 North Huajin stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if North Huajin stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in North Huajin stock over time.
Current vs Lagged Prices |
| Timeline |
North Huajin Lagged Returns
When evaluating North Huajin's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of North Huajin stock have on its future price. North Huajin 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, North Huajin autocorrelation shows the relationship between North Huajin stock current value and its past values and can show if there is a momentum factor associated with investing in North Huajin Chemical.
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.Other Information on Investing in North Stock
North Huajin financial ratios help investors to determine whether North 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 North with respect to the benefits of owning North Huajin security.