Zhejiang Construction (China) Market Value
| 002761 Stock | 10.01 0.07 0.70% |
| Symbol | Zhejiang |
Zhejiang Construction '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 Zhejiang Construction'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 Zhejiang Construction.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Zhejiang Construction on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Zhejiang Construction Investment or generate 0.0% return on investment in Zhejiang Construction over 30 days. Zhejiang Construction is related to or competes with Hainan Haiqi, Shaanxi Broadcast, Tibet Huayu, Chongqing Road, Guizhou BroadcastingTV, Shanghai Yanpu, and China Minmetals. Zhejiang Construction is entity of China More
Zhejiang Construction 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 Zhejiang Construction'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 Zhejiang Construction Investment upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.14 | |||
| Information Ratio | 0.1078 | |||
| Maximum Drawdown | 20.02 | |||
| Value At Risk | (5.22) | |||
| Potential Upside | 9.76 |
Zhejiang Construction Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zhejiang Construction's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zhejiang Construction's standard deviation. In reality, there are many statistical measures that can use Zhejiang Construction historical prices to predict the future Zhejiang Construction's volatility.| Risk Adjusted Performance | 0.1184 | |||
| Jensen Alpha | 0.6324 | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | 0.0978 | |||
| Treynor Ratio | (0.68) |
Zhejiang Construction Backtested Returns
Zhejiang Construction appears to be slightly risky, given 3 months investment horizon. Zhejiang Construction shows Sharpe Ratio of 0.16, which attests that the company had a 0.16% return per unit of risk over the last 3 months. By examining Zhejiang Construction's technical indicators, you can evaluate if the expected return of 0.6% is justified by implied risk. Please utilize Zhejiang Construction's Market Risk Adjusted Performance of (0.67), mean deviation of 2.53, and Downside Deviation of 4.14 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Zhejiang Construction holds a performance score of 12. The firm maintains a market beta of -0.79, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Zhejiang Construction are expected to decrease at a much lower rate. During the bear market, Zhejiang Construction is likely to outperform the market. Please check Zhejiang Construction's mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Zhejiang Construction's historical returns will revert.
Auto-correlation | 0.41 |
Average predictability
Zhejiang Construction Investment has average predictability. Overlapping area represents the amount of predictability between Zhejiang Construction 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 Zhejiang Construction price movement. The serial correlation of 0.41 indicates that just about 41.0% of current Zhejiang Construction price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.41 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.91 |
Zhejiang Construction lagged returns against current returns
Autocorrelation, which is Zhejiang Construction 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 Zhejiang Construction's stock expected returns. We can calculate the autocorrelation of Zhejiang Construction returns to help us make a trade decision. For example, suppose you find that Zhejiang Construction 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 |
Zhejiang Construction 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 Zhejiang Construction stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zhejiang Construction stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zhejiang Construction stock over time.
Current vs Lagged Prices |
| Timeline |
Zhejiang Construction Lagged Returns
When evaluating Zhejiang Construction's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zhejiang Construction stock have on its future price. Zhejiang Construction 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, Zhejiang Construction autocorrelation shows the relationship between Zhejiang Construction stock current value and its past values and can show if there is a momentum factor associated with investing in Zhejiang Construction Investment.
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 Zhejiang Stock
Zhejiang Construction financial ratios help investors to determine whether Zhejiang 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 Zhejiang with respect to the benefits of owning Zhejiang Construction security.