Zhejiang Xiantong (China) Market Value
| 603239 Stock | 14.61 0.21 1.42% |
| Symbol | Zhejiang |
Zhejiang Xiantong '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 Xiantong'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 Xiantong.
| 09/15/2024 |
| 12/14/2024 |
If you would invest 0.00 in Zhejiang Xiantong on September 15, 2024 and sell it all today you would earn a total of 0.00 from holding Zhejiang Xiantong RubberPlastic or generate 0.0% return on investment in Zhejiang Xiantong over 90 days. Zhejiang Xiantong is related to or competes with Shaanxi Meineng, Ligao Foods, Kingclean Electric, Iat Automobile, ROPEOK Technology, Eastroc Beverage, and Shantou Wanshun. Zhejiang Xiantong is entity of China. It is traded as Stock on SHG exchange. More
Zhejiang Xiantong 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 Xiantong'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 Xiantong RubberPlastic upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.6 | |||
| Information Ratio | 0.0799 | |||
| Maximum Drawdown | 18.13 | |||
| Value At Risk | (3.05) | |||
| Potential Upside | 4.6 |
Zhejiang Xiantong Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zhejiang Xiantong's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zhejiang Xiantong's standard deviation. In reality, there are many statistical measures that can use Zhejiang Xiantong historical prices to predict the future Zhejiang Xiantong's volatility.| Risk Adjusted Performance | 0.091 | |||
| Jensen Alpha | 0.2972 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | 0.0871 | |||
| Treynor Ratio | 1.5 |
Zhejiang Xiantong Backtested Returns
Zhejiang Xiantong appears to be not too volatile, given 3 months investment horizon. Zhejiang Xiantong shows Sharpe Ratio of 0.17, which attests that the company had a 0.17% return per unit of risk over the last 3 months. By examining Zhejiang Xiantong's technical indicators, you can evaluate if the expected return of 0.5% is justified by implied risk. Please utilize Zhejiang Xiantong's Mean Deviation of 1.98, market risk adjusted performance of 1.51, and Downside Deviation of 2.6 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Zhejiang Xiantong holds a performance score of 13. The firm maintains a market beta of 0.21, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Zhejiang Xiantong's returns are expected to increase less than the market. However, during the bear market, the loss of holding Zhejiang Xiantong is expected to be smaller as well. Please check Zhejiang Xiantong's market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to make a quick decision on whether Zhejiang Xiantong's historical returns will revert.
Auto-correlation | 0.32 |
Below average predictability
Zhejiang Xiantong RubberPlastic has below average predictability. Overlapping area represents the amount of predictability between Zhejiang Xiantong time series from 15th of September 2024 to 30th of October 2024 and 30th of October 2024 to 14th 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 Xiantong price movement. The serial correlation of 0.32 indicates that nearly 32.0% of current Zhejiang Xiantong price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.32 | |
| Spearman Rank Test | 0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 0.41 |
Zhejiang Xiantong lagged returns against current returns
Autocorrelation, which is Zhejiang Xiantong 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 Xiantong's stock expected returns. We can calculate the autocorrelation of Zhejiang Xiantong returns to help us make a trade decision. For example, suppose you find that Zhejiang Xiantong 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 Xiantong 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 Xiantong stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zhejiang Xiantong stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zhejiang Xiantong stock over time.
Current vs Lagged Prices |
| Timeline |
Zhejiang Xiantong Lagged Returns
When evaluating Zhejiang Xiantong's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zhejiang Xiantong stock have on its future price. Zhejiang Xiantong 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 Xiantong autocorrelation shows the relationship between Zhejiang Xiantong stock current value and its past values and can show if there is a momentum factor associated with investing in Zhejiang Xiantong RubberPlastic.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Zhejiang Stock
Zhejiang Xiantong 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 Xiantong security.