Western Metal (China) Market Value
| 002149 Stock | 16.16 0.04 0.25% |
| Symbol | Western |
Western Metal '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 Western Metal'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 Western Metal.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Western Metal on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Western Metal Materials or generate 0.0% return on investment in Western Metal over 30 days. Western Metal is related to or competes with Haima Automobile, FSPG Hi, Tianjin Hi, Peoples Insurance, Fujian Newland, Zhongtong Guomai, and XinJiang GuoTong. Western Metal is entity of China. It is traded as Stock on SHE exchange. More
Western Metal 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 Western Metal'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 Western Metal Materials upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.59 | |||
| Information Ratio | 0.1036 | |||
| Maximum Drawdown | 15.58 | |||
| Value At Risk | (3.47) | |||
| Potential Upside | 6.5 |
Western Metal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Western Metal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Western Metal's standard deviation. In reality, there are many statistical measures that can use Western Metal historical prices to predict the future Western Metal's volatility.| Risk Adjusted Performance | 0.12 | |||
| Jensen Alpha | 0.5226 | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | 0.1267 | |||
| Treynor Ratio | (0.87) |
Western Metal Materials Backtested Returns
Western Metal appears to be not too volatile, given 3 months investment horizon. Western Metal Materials 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 thirty technical indicators for Western Metal Materials, which you can use to evaluate the volatility of the company. Please utilize Western Metal's Market Risk Adjusted Performance of (0.86), downside deviation of 2.59, and Mean Deviation of 2.51 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Western Metal holds a performance score of 10. 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, returns on owning Western Metal are expected to decrease at a much lower rate. During the bear market, Western Metal is likely to outperform the market. Please check Western Metal's coefficient of variation, jensen alpha, sortino ratio, as well as the relationship between the standard deviation and total risk alpha , to make a quick decision on whether Western Metal's historical returns will revert.
Auto-correlation | 0.37 |
Below average predictability
Western Metal Materials has below average predictability. Overlapping area represents the amount of predictability between Western Metal 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 Western Metal Materials price movement. The serial correlation of 0.37 indicates that just about 37.0% of current Western Metal price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.37 | |
| Spearman Rank Test | -0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.18 |
Western Metal Materials lagged returns against current returns
Autocorrelation, which is Western Metal 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 Western Metal's stock expected returns. We can calculate the autocorrelation of Western Metal returns to help us make a trade decision. For example, suppose you find that Western Metal 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 |
Western Metal 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 Western Metal stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Western Metal stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Western Metal stock over time.
Current vs Lagged Prices |
| Timeline |
Western Metal Lagged Returns
When evaluating Western Metal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Western Metal stock have on its future price. Western Metal 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, Western Metal autocorrelation shows the relationship between Western Metal stock current value and its past values and can show if there is a momentum factor associated with investing in Western Metal Materials.
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 Western Stock
Western Metal financial ratios help investors to determine whether Western 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 Western with respect to the benefits of owning Western Metal security.