Zhejiang Expressway (Germany) Market Value
| ZHJ Stock | EUR 0.60 0.01 1.64% |
| Symbol | Zhejiang |
Zhejiang Expressway '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 Expressway'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 Expressway.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Zhejiang Expressway on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Zhejiang Expressway Co or generate 0.0% return on investment in Zhejiang Expressway over 30 days. Zhejiang Expressway is related to or competes with Ares Management, Cardinal Health, Ramsay Health, National Health, and Natural Health. Zhejiang Expressway Co., Ltd., an investment holding company, invests in, develops, operates, maintains, and manages hig... More
Zhejiang Expressway 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 Expressway'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 Expressway Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.3 | |||
| Information Ratio | 0.0143 | |||
| Maximum Drawdown | 37.44 | |||
| Value At Risk | (3.17) | |||
| Potential Upside | 5.0 |
Zhejiang Expressway Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zhejiang Expressway's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zhejiang Expressway's standard deviation. In reality, there are many statistical measures that can use Zhejiang Expressway historical prices to predict the future Zhejiang Expressway's volatility.| Risk Adjusted Performance | 0.0436 | |||
| Jensen Alpha | 0.1211 | |||
| Total Risk Alpha | (0.53) | |||
| Sortino Ratio | 0.0116 | |||
| Treynor Ratio | 0.3546 |
Zhejiang Expressway Backtested Returns
Zhejiang Expressway appears to be abnormally volatile, given 3 months investment horizon. Zhejiang Expressway shows Sharpe Ratio of 0.0466, which attests that the company had a 0.0466% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Zhejiang Expressway, which you can use to evaluate the volatility of the company. Please utilize Zhejiang Expressway's Market Risk Adjusted Performance of 0.3646, downside deviation of 5.3, and Mean Deviation of 2.26 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Zhejiang Expressway holds a performance score of 3. The firm maintains a market beta of 0.53, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Zhejiang Expressway's returns are expected to increase less than the market. However, during the bear market, the loss of holding Zhejiang Expressway is expected to be smaller as well. Please check Zhejiang Expressway's standard deviation, treynor ratio, downside variance, as well as the relationship between the total risk alpha and value at risk , to make a quick decision on whether Zhejiang Expressway's historical returns will revert.
Auto-correlation | 0.19 |
Very weak predictability
Zhejiang Expressway Co has very weak predictability. Overlapping area represents the amount of predictability between Zhejiang Expressway time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 to 2nd 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 Expressway price movement. The serial correlation of 0.19 indicates that over 19.0% of current Zhejiang Expressway price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.19 | |
| Spearman Rank Test | -0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Zhejiang Expressway lagged returns against current returns
Autocorrelation, which is Zhejiang Expressway 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 Expressway's stock expected returns. We can calculate the autocorrelation of Zhejiang Expressway returns to help us make a trade decision. For example, suppose you find that Zhejiang Expressway 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 Expressway 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 Expressway stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zhejiang Expressway stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zhejiang Expressway stock over time.
Current vs Lagged Prices |
| Timeline |
Zhejiang Expressway Lagged Returns
When evaluating Zhejiang Expressway's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zhejiang Expressway stock have on its future price. Zhejiang Expressway 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 Expressway autocorrelation shows the relationship between Zhejiang Expressway stock current value and its past values and can show if there is a momentum factor associated with investing in Zhejiang Expressway Co.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Zhejiang Stock
Zhejiang Expressway 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 Expressway security.