North Chemical (China) Market Value
| 002246 Stock | 12.38 0.18 1.48% |
| Symbol | North |
North Chemical '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 North Chemical'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 North Chemical.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in North Chemical on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding North Chemical Industries or generate 0.0% return on investment in North Chemical over 30 days. North Chemical is related to or competes with Zijin Mining, Wanhua Chemical, Baoshan Iron, Shandong Gold, Rongsheng Petrochemical, Inner Mongolia, and Jiangxi Ganfeng. North Chemical is entity of China. It is traded as Stock on SHE exchange. More
North Chemical 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 North Chemical'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 North Chemical Industries upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.87 | |||
| Information Ratio | 0.1184 | |||
| Maximum Drawdown | 18.82 | |||
| Value At Risk | (5.69) | |||
| Potential Upside | 6.61 |
North Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for North Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as North Chemical's standard deviation. In reality, there are many statistical measures that can use North Chemical historical prices to predict the future North Chemical's volatility.| Risk Adjusted Performance | 0.1263 | |||
| Jensen Alpha | 0.503 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | 0.1158 | |||
| Treynor Ratio | 1.02 |
North Chemical Industries Backtested Returns
North Chemical appears to be somewhat reliable, given 3 months investment horizon. North Chemical Industries has Sharpe Ratio of 0.14, which conveys that the firm had a 0.14% return per unit of risk over the last 3 months. By analyzing North Chemical's technical indicators, you can evaluate if the expected return of 0.55% is justified by implied risk. Please exercise North Chemical's Downside Deviation of 3.87, mean deviation of 2.85, and Risk Adjusted Performance of 0.1263 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, North Chemical holds a performance score of 11. The company secures a Beta (Market Risk) of 0.57, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, North Chemical's returns are expected to increase less than the market. However, during the bear market, the loss of holding North Chemical is expected to be smaller as well. Please check North Chemical's jensen alpha, sortino ratio, and the relationship between the standard deviation and total risk alpha , to make a quick decision on whether North Chemical's current price movements will revert.
Auto-correlation | 0.51 |
Modest predictability
North Chemical Industries has modest predictability. Overlapping area represents the amount of predictability between North Chemical time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 North Chemical Industries price movement. The serial correlation of 0.51 indicates that about 51.0% of current North Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.18 |
North Chemical Industries lagged returns against current returns
Autocorrelation, which is North Chemical 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 North Chemical's stock expected returns. We can calculate the autocorrelation of North Chemical returns to help us make a trade decision. For example, suppose you find that North Chemical 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 |
North Chemical 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 North Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if North Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in North Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
North Chemical Lagged Returns
When evaluating North Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of North Chemical stock have on its future price. North Chemical 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, North Chemical autocorrelation shows the relationship between North Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in North Chemical Industries.
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 North Stock
North Chemical financial ratios help investors to determine whether North 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 North with respect to the benefits of owning North Chemical security.