Bengang Steel (China) Market Value
| 000761 Stock | 3.60 0.18 5.26% |
| Symbol | Bengang |
Bengang Steel '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 Bengang Steel'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 Bengang Steel.
| 09/03/2024 |
| 12/02/2024 |
If you would invest 0.00 in Bengang Steel on September 3, 2024 and sell it all today you would earn a total of 0.00 from holding Bengang Steel Plates or generate 0.0% return on investment in Bengang Steel over 90 days. Bengang Steel is related to or competes with Threes Company, Shuhua Sports, Inly Media, Beijing Bashi, China Sports, Hengdian Entertainment, and Zhejiang Daily. Bengang Steel is entity of China. It is traded as Stock on SHE exchange. More
Bengang Steel 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 Bengang Steel'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 Bengang Steel Plates upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.55 | |||
| Information Ratio | 0.1151 | |||
| Maximum Drawdown | 18.04 | |||
| Value At Risk | (3.57) | |||
| Potential Upside | 9.84 |
Bengang Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bengang Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bengang Steel's standard deviation. In reality, there are many statistical measures that can use Bengang Steel historical prices to predict the future Bengang Steel's volatility.| Risk Adjusted Performance | 0.1247 | |||
| Jensen Alpha | 0.5977 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | 0.1652 | |||
| Treynor Ratio | (1.42) |
Bengang Steel Plates Backtested Returns
Bengang Steel appears to be risky, given 3 months investment horizon. Bengang Steel Plates secures Sharpe Ratio (or Efficiency) of 0.19, which signifies that the company had a 0.19% return per unit of risk over the last 3 months. By analyzing Bengang Steel's technical indicators, you can evaluate if the expected return of 0.74% is justified by implied risk. Please makes use of Bengang Steel's Risk Adjusted Performance of 0.1247, downside deviation of 2.55, and Mean Deviation of 2.68 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Bengang Steel holds a performance score of 15. The firm shows a Beta (market volatility) of -0.39, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Bengang Steel are expected to decrease at a much lower rate. During the bear market, Bengang Steel is likely to outperform the market. Please check Bengang Steel's semi deviation, coefficient of variation, jensen alpha, as well as the relationship between the downside deviation and information ratio , to make a quick decision on whether Bengang Steel's price patterns will revert.
Auto-correlation | -0.28 |
Weak reverse predictability
Bengang Steel Plates has weak reverse predictability. Overlapping area represents the amount of predictability between Bengang Steel time series from 3rd of September 2024 to 18th of October 2024 and 18th of October 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 Bengang Steel Plates price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current Bengang Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.28 | |
| Spearman Rank Test | -0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Bengang Steel Plates lagged returns against current returns
Autocorrelation, which is Bengang Steel 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 Bengang Steel's stock expected returns. We can calculate the autocorrelation of Bengang Steel returns to help us make a trade decision. For example, suppose you find that Bengang Steel 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 |
Bengang Steel 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 Bengang Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bengang Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bengang Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Bengang Steel Lagged Returns
When evaluating Bengang Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bengang Steel stock have on its future price. Bengang Steel 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, Bengang Steel autocorrelation shows the relationship between Bengang Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Bengang Steel Plates.
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 Bengang Stock
Bengang Steel financial ratios help investors to determine whether Bengang 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 Bengang with respect to the benefits of owning Bengang Steel security.