Renxin New (China) Market Value
| 301395 Stock | 12.39 0.12 0.98% |
| Symbol | Renxin |
Renxin New '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 Renxin New'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 Renxin New.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in Renxin New on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding Renxin New Material or generate 0.0% return on investment in Renxin New over 360 days. Renxin New is related to or competes with Zijin Mining, Wanhua Chemical, Baoshan Iron, Shandong Gold, Inner Mongolia, Jiangxi Ganfeng, and Hoshine Silicon. Renxin New is entity of China. It is traded as Stock on SHE exchange. More
Renxin New 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 Renxin New'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 Renxin New Material upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.48 | |||
| Information Ratio | 0.1273 | |||
| Maximum Drawdown | 23.15 | |||
| Value At Risk | (4.70) | |||
| Potential Upside | 6.72 |
Renxin New Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Renxin New's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Renxin New's standard deviation. In reality, there are many statistical measures that can use Renxin New historical prices to predict the future Renxin New's volatility.| Risk Adjusted Performance | 0.1326 | |||
| Jensen Alpha | 0.5458 | |||
| Total Risk Alpha | 0.0375 | |||
| Sortino Ratio | 0.1259 | |||
| Treynor Ratio | 10.07 |
Renxin New Material Backtested Returns
Renxin New appears to be somewhat reliable, given 3 months investment horizon. Renxin New Material maintains Sharpe Ratio (i.e., Efficiency) of 0.15, which implies the firm had a 0.15% return per unit of risk over the last 3 months. By analyzing Renxin New's technical indicators, you can evaluate if the expected return of 0.55% is justified by implied risk. Please evaluate Renxin New's Risk Adjusted Performance of 0.1326, semi deviation of 2.97, and Coefficient Of Variation of 612.02 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Renxin New holds a performance score of 11. The company holds a Beta of 0.0548, which implies not very significant fluctuations relative to the market. As returns on the market increase, Renxin New's returns are expected to increase less than the market. However, during the bear market, the loss of holding Renxin New is expected to be smaller as well. Please check Renxin New's downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Renxin New's historical price patterns will revert.
Auto-correlation | 0.48 |
Average predictability
Renxin New Material has average predictability. Overlapping area represents the amount of predictability between Renxin New time series from 9th of December 2023 to 6th of June 2024 and 6th of June 2024 to 3rd 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 Renxin New Material price movement. The serial correlation of 0.48 indicates that about 48.0% of current Renxin New price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | -0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 1.73 |
Renxin New Material lagged returns against current returns
Autocorrelation, which is Renxin New 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 Renxin New's stock expected returns. We can calculate the autocorrelation of Renxin New returns to help us make a trade decision. For example, suppose you find that Renxin New 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 |
Renxin New 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 Renxin New stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Renxin New stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Renxin New stock over time.
Current vs Lagged Prices |
| Timeline |
Renxin New Lagged Returns
When evaluating Renxin New's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Renxin New stock have on its future price. Renxin New 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, Renxin New autocorrelation shows the relationship between Renxin New stock current value and its past values and can show if there is a momentum factor associated with investing in Renxin New Material.
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 Renxin Stock
Renxin New financial ratios help investors to determine whether Renxin 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 Renxin with respect to the benefits of owning Renxin New security.