Huagong Tech (China) Market Value
| 000988 Stock | 37.95 0.14 0.37% |
| Symbol | Huagong |
Huagong Tech '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 Huagong Tech'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 Huagong Tech.
| 11/18/2024 |
| 12/18/2024 |
If you would invest 0.00 in Huagong Tech on November 18, 2024 and sell it all today you would earn a total of 0.00 from holding Huagong Tech Co or generate 0.0% return on investment in Huagong Tech over 30 days. Huagong Tech is related to or competes with Industrial, Agricultural Bank, China Construction, Bank of China, Postal Savings, Bank of Communications, and Ping An. Huagong Tech is entity of China. It is traded as Stock on SHE exchange. More
Huagong Tech 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 Huagong Tech'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 Huagong Tech Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.92 | |||
| Information Ratio | 0.1165 | |||
| Maximum Drawdown | 16.44 | |||
| Value At Risk | (4.77) | |||
| Potential Upside | 7.53 |
Huagong Tech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Huagong Tech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Huagong Tech's standard deviation. In reality, there are many statistical measures that can use Huagong Tech historical prices to predict the future Huagong Tech's volatility.| Risk Adjusted Performance | 0.107 | |||
| Jensen Alpha | 0.4763 | |||
| Total Risk Alpha | 0.1804 | |||
| Sortino Ratio | 0.1328 | |||
| Treynor Ratio | (0.82) |
Huagong Tech Backtested Returns
Huagong Tech appears to be not too volatile, given 3 months investment horizon. Huagong Tech holds Efficiency (Sharpe) Ratio of 0.16, which attests that the entity had a 0.16% return per unit of standard deviation over the last 3 months. By evaluating Huagong Tech's technical indicators, you can evaluate if the expected return of 0.55% is justified by implied risk. Please utilize Huagong Tech's market risk adjusted performance of (0.81), and Risk Adjusted Performance of 0.107 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Huagong Tech holds a performance score of 12. The company retains a Market Volatility (i.e., Beta) of -0.54, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Huagong Tech are expected to decrease at a much lower rate. During the bear market, Huagong Tech is likely to outperform the market. Please check Huagong Tech's semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to make a quick decision on whether Huagong Tech's current trending patterns will revert.
Auto-correlation | -0.66 |
Very good reverse predictability
Huagong Tech Co has very good reverse predictability. Overlapping area represents the amount of predictability between Huagong Tech 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 Huagong Tech price movement. The serial correlation of -0.66 indicates that around 66.0% of current Huagong Tech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.66 | |
| Spearman Rank Test | -0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.75 |
Huagong Tech lagged returns against current returns
Autocorrelation, which is Huagong Tech 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 Huagong Tech's stock expected returns. We can calculate the autocorrelation of Huagong Tech returns to help us make a trade decision. For example, suppose you find that Huagong Tech 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 |
Huagong Tech 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 Huagong Tech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Huagong Tech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Huagong Tech stock over time.
Current vs Lagged Prices |
| Timeline |
Huagong Tech Lagged Returns
When evaluating Huagong Tech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Huagong Tech stock have on its future price. Huagong Tech 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, Huagong Tech autocorrelation shows the relationship between Huagong Tech stock current value and its past values and can show if there is a momentum factor associated with investing in Huagong Tech Co.
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 Huagong Stock
Huagong Tech financial ratios help investors to determine whether Huagong 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 Huagong with respect to the benefits of owning Huagong Tech security.