Zhangjiagang Elegant (China) Market Value
| 603221 Stock | 10.35 0.67 6.08% |
| Symbol | Zhangjiagang |
Zhangjiagang Elegant '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 Zhangjiagang Elegant'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 Zhangjiagang Elegant.
| 11/18/2024 |
| 12/18/2024 |
If you would invest 0.00 in Zhangjiagang Elegant on November 18, 2024 and sell it all today you would earn a total of 0.00 from holding Zhangjiagang Elegant Home or generate 0.0% return on investment in Zhangjiagang Elegant over 30 days. Zhangjiagang Elegant is related to or competes with China State, Poly Real, China Vanke, China Merchants, Huafa Industrial, Kweichow Moutai, and Contemporary Amperex. Zhangjiagang Elegant is entity of China. It is traded as Stock on SHG exchange. More
Zhangjiagang Elegant 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 Zhangjiagang Elegant'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 Zhangjiagang Elegant Home upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.19 | |||
| Information Ratio | 0.0917 | |||
| Maximum Drawdown | 19.88 | |||
| Value At Risk | (4.02) | |||
| Potential Upside | 4.87 |
Zhangjiagang Elegant Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zhangjiagang Elegant's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zhangjiagang Elegant's standard deviation. In reality, there are many statistical measures that can use Zhangjiagang Elegant historical prices to predict the future Zhangjiagang Elegant's volatility.| Risk Adjusted Performance | 0.0902 | |||
| Jensen Alpha | 0.3377 | |||
| Total Risk Alpha | 0.0943 | |||
| Sortino Ratio | 0.0873 | |||
| Treynor Ratio | (9.90) |
Zhangjiagang Elegant Home Backtested Returns
Zhangjiagang Elegant appears to be somewhat reliable, given 3 months investment horizon. Zhangjiagang Elegant Home shows Sharpe Ratio of 0.14, which attests that the company had a 0.14% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Zhangjiagang Elegant Home, which you can use to evaluate the volatility of the company. Please utilize Zhangjiagang Elegant's Market Risk Adjusted Performance of (9.89), downside deviation of 3.19, and Mean Deviation of 2.03 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Zhangjiagang Elegant holds a performance score of 11. The firm maintains a market beta of -0.0339, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Zhangjiagang Elegant are expected to decrease at a much lower rate. During the bear market, Zhangjiagang Elegant is likely to outperform the market. Please check Zhangjiagang Elegant's downside deviation, information ratio, and the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Zhangjiagang Elegant's historical returns will revert.
Auto-correlation | 0.49 |
Average predictability
Zhangjiagang Elegant Home has average predictability. Overlapping area represents the amount of predictability between Zhangjiagang Elegant time series from 18th of November 2024 to 3rd of December 2024 and 3rd of December 2024 to 18th 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 Zhangjiagang Elegant Home price movement. The serial correlation of 0.49 indicates that about 49.0% of current Zhangjiagang Elegant price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.49 | |
| Spearman Rank Test | 0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 0.23 |
Zhangjiagang Elegant Home lagged returns against current returns
Autocorrelation, which is Zhangjiagang Elegant 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 Zhangjiagang Elegant's stock expected returns. We can calculate the autocorrelation of Zhangjiagang Elegant returns to help us make a trade decision. For example, suppose you find that Zhangjiagang Elegant 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 |
Zhangjiagang Elegant 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 Zhangjiagang Elegant stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zhangjiagang Elegant stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zhangjiagang Elegant stock over time.
Current vs Lagged Prices |
| Timeline |
Zhangjiagang Elegant Lagged Returns
When evaluating Zhangjiagang Elegant's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zhangjiagang Elegant stock have on its future price. Zhangjiagang Elegant 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, Zhangjiagang Elegant autocorrelation shows the relationship between Zhangjiagang Elegant stock current value and its past values and can show if there is a momentum factor associated with investing in Zhangjiagang Elegant Home.
Regressed Prices |
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Currently Active Assets on Macroaxis
Other Information on Investing in Zhangjiagang Stock
Zhangjiagang Elegant financial ratios help investors to determine whether Zhangjiagang 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 Zhangjiagang with respect to the benefits of owning Zhangjiagang Elegant security.