Zhejiang Daily (China) Market Value
| 600633 Stock | 11.14 0.18 1.64% |
| Symbol | Zhejiang |
Zhejiang Daily '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 Zhejiang Daily'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 Zhejiang Daily.
| 12/14/2022 |
| 12/03/2024 |
If you would invest 0.00 in Zhejiang Daily on December 14, 2022 and sell it all today you would earn a total of 0.00 from holding Zhejiang Daily Media or generate 0.0% return on investment in Zhejiang Daily over 720 days. Zhejiang Daily is related to or competes with Healthcare, Yunnan Jianzhijia, Ye Chiu, Shanghai Rongtai, Mingchen Health, and Humanwell Healthcare. Zhejiang Daily is entity of China. It is traded as Stock on SHG exchange. More
Zhejiang Daily 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 Zhejiang Daily'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 Zhejiang Daily Media upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.78 | |||
| Information Ratio | 0.1366 | |||
| Maximum Drawdown | 14.64 | |||
| Value At Risk | (4.02) | |||
| Potential Upside | 5.61 |
Zhejiang Daily Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zhejiang Daily's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zhejiang Daily's standard deviation. In reality, there are many statistical measures that can use Zhejiang Daily historical prices to predict the future Zhejiang Daily's volatility.| Risk Adjusted Performance | 0.1435 | |||
| Jensen Alpha | 0.5032 | |||
| Total Risk Alpha | 0.0754 | |||
| Sortino Ratio | 0.1471 | |||
| Treynor Ratio | 2.95 |
Zhejiang Daily Media Backtested Returns
Zhejiang Daily appears to be somewhat reliable, given 3 months investment horizon. Zhejiang Daily Media shows Sharpe Ratio of 0.2, which attests that the company had a 0.2% return per unit of risk over the last 3 months. By examining Zhejiang Daily's technical indicators, you can evaluate if the expected return of 0.62% is justified by implied risk. Please utilize Zhejiang Daily's Downside Deviation of 2.78, market risk adjusted performance of 2.96, and Mean Deviation of 2.34 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Zhejiang Daily holds a performance score of 15. 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, Zhejiang Daily's returns are expected to increase less than the market. However, during the bear market, the loss of holding Zhejiang Daily is expected to be smaller as well. Please check Zhejiang Daily's semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to make a quick decision on whether Zhejiang Daily's historical returns will revert.
Auto-correlation | -0.68 |
Very good reverse predictability
Zhejiang Daily Media has very good reverse predictability. Overlapping area represents the amount of predictability between Zhejiang Daily time series from 14th of December 2022 to 9th of December 2023 and 9th of December 2023 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 Zhejiang Daily Media price movement. The serial correlation of -0.68 indicates that around 68.0% of current Zhejiang Daily price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.68 | |
| Spearman Rank Test | -0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 1.65 |
Zhejiang Daily Media lagged returns against current returns
Autocorrelation, which is Zhejiang Daily 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 Zhejiang Daily's stock expected returns. We can calculate the autocorrelation of Zhejiang Daily returns to help us make a trade decision. For example, suppose you find that Zhejiang Daily 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 |
Zhejiang Daily 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 Zhejiang Daily stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zhejiang Daily stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zhejiang Daily stock over time.
Current vs Lagged Prices |
| Timeline |
Zhejiang Daily Lagged Returns
When evaluating Zhejiang Daily's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zhejiang Daily stock have on its future price. Zhejiang Daily 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, Zhejiang Daily autocorrelation shows the relationship between Zhejiang Daily stock current value and its past values and can show if there is a momentum factor associated with investing in Zhejiang Daily Media.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Zhejiang Stock
Zhejiang Daily financial ratios help investors to determine whether Zhejiang 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 Zhejiang with respect to the benefits of owning Zhejiang Daily security.