Rongsheng Petrochemical (China) Market Value
| 002493 Stock | 9.54 0.09 0.93% |
| Symbol | Rongsheng |
Rongsheng Petrochemical '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 Rongsheng Petrochemical'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 Rongsheng Petrochemical.
| 08/31/2024 |
| 11/29/2024 |
If you would invest 0.00 in Rongsheng Petrochemical on August 31, 2024 and sell it all today you would earn a total of 0.00 from holding Rongsheng Petrochemical Co or generate 0.0% return on investment in Rongsheng Petrochemical over 90 days. Rongsheng Petrochemical is related to or competes with Zijin Mining, Baoshan Iron, Hoshine Silicon. Rongsheng Petrochemical is entity of China More
Rongsheng Petrochemical 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 Rongsheng Petrochemical'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 Rongsheng Petrochemical Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.22 | |||
| Information Ratio | 0.0459 | |||
| Maximum Drawdown | 15.52 | |||
| Value At Risk | (2.54) | |||
| Potential Upside | 4.12 |
Rongsheng Petrochemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Rongsheng Petrochemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Rongsheng Petrochemical's standard deviation. In reality, there are many statistical measures that can use Rongsheng Petrochemical historical prices to predict the future Rongsheng Petrochemical's volatility.| Risk Adjusted Performance | 0.0855 | |||
| Jensen Alpha | 0.2195 | |||
| Total Risk Alpha | (0.11) | |||
| Sortino Ratio | 0.0453 | |||
| Treynor Ratio | (6.70) |
Rongsheng Petrochemical Backtested Returns
Rongsheng Petrochemical appears to be somewhat reliable, given 3 months investment horizon. Rongsheng Petrochemical maintains Sharpe Ratio (i.e., Efficiency) of 0.0868, which implies the firm had a 0.0868% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Rongsheng Petrochemical, which you can use to evaluate the volatility of the company. Please evaluate Rongsheng Petrochemical's Semi Deviation of 1.9, coefficient of variation of 969.63, and Risk Adjusted Performance of 0.0855 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Rongsheng Petrochemical holds a performance score of 6. The company holds a Beta of -0.0322, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Rongsheng Petrochemical are expected to decrease at a much lower rate. During the bear market, Rongsheng Petrochemical is likely to outperform the market. Please check Rongsheng Petrochemical's coefficient of variation, jensen alpha, and the relationship between the downside deviation and standard deviation , to make a quick decision on whether Rongsheng Petrochemical's historical price patterns will revert.
Auto-correlation | 0.73 |
Good predictability
Rongsheng Petrochemical Co has good predictability. Overlapping area represents the amount of predictability between Rongsheng Petrochemical time series from 31st of August 2024 to 15th of October 2024 and 15th of October 2024 to 29th of November 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 Rongsheng Petrochemical price movement. The serial correlation of 0.73 indicates that around 73.0% of current Rongsheng Petrochemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.73 | |
| Spearman Rank Test | 0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 0.13 |
Rongsheng Petrochemical lagged returns against current returns
Autocorrelation, which is Rongsheng Petrochemical 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 Rongsheng Petrochemical's stock expected returns. We can calculate the autocorrelation of Rongsheng Petrochemical returns to help us make a trade decision. For example, suppose you find that Rongsheng Petrochemical 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 |
Rongsheng Petrochemical 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 Rongsheng Petrochemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Rongsheng Petrochemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Rongsheng Petrochemical stock over time.
Current vs Lagged Prices |
| Timeline |
Rongsheng Petrochemical Lagged Returns
When evaluating Rongsheng Petrochemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Rongsheng Petrochemical stock have on its future price. Rongsheng Petrochemical 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, Rongsheng Petrochemical autocorrelation shows the relationship between Rongsheng Petrochemical stock current value and its past values and can show if there is a momentum factor associated with investing in Rongsheng Petrochemical Co.
Regressed Prices |
| Timeline |
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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 Rongsheng Stock
Rongsheng Petrochemical financial ratios help investors to determine whether Rongsheng 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 Rongsheng with respect to the benefits of owning Rongsheng Petrochemical security.