Elite Color (China) Market Value
| 002998 Stock | 6.89 0.09 1.32% |
| Symbol | Elite |
Elite Color '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 Elite Color'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 Elite Color.
| 12/15/2022 |
| 12/04/2024 |
If you would invest 0.00 in Elite Color on December 15, 2022 and sell it all today you would earn a total of 0.00 from holding Elite Color Environmental or generate 0.0% return on investment in Elite Color over 720 days. Elite Color is related to or competes with Zijin Mining, Baoshan Iron, Rongsheng Petrochemical, Shandong Gold, Inner Mongolia, Jiangxi Ganfeng, and Hoshine Silicon. Elite Color is entity of China. It is traded as Stock on SHE exchange. More
Elite Color 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 Elite Color'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 Elite Color Environmental upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.59 | |||
| Information Ratio | 0.1469 | |||
| Maximum Drawdown | 15.46 | |||
| Value At Risk | (3.37) | |||
| Potential Upside | 4.48 |
Elite Color Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elite Color's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elite Color's standard deviation. In reality, there are many statistical measures that can use Elite Color historical prices to predict the future Elite Color's volatility.| Risk Adjusted Performance | 0.1502 | |||
| Jensen Alpha | 0.5468 | |||
| Total Risk Alpha | 0.1354 | |||
| Sortino Ratio | 0.1588 | |||
| Treynor Ratio | (1.69) |
Elite Color Environmental Backtested Returns
Elite Color appears to be slightly risky, given 3 months investment horizon. Elite Color Environmental secures Sharpe Ratio (or Efficiency) of 0.18, which denotes the company had a 0.18% return per unit of risk over the last 3 months. By reviewing Elite Color's technical indicators, you can evaluate if the expected return of 0.52% is justified by implied risk. Please utilize Elite Color's Coefficient Of Variation of 534.01, downside deviation of 2.59, and Mean Deviation of 2.07 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Elite Color holds a performance score of 13. The firm shows a Beta (market volatility) of -0.3, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Elite Color are expected to decrease at a much lower rate. During the bear market, Elite Color is likely to outperform the market. Please check Elite Color's market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to make a quick decision on whether Elite Color's price patterns will revert.
Auto-correlation | -0.39 |
Poor reverse predictability
Elite Color Environmental has poor reverse predictability. Overlapping area represents the amount of predictability between Elite Color time series from 15th of December 2022 to 10th of December 2023 and 10th of December 2023 to 4th 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 Elite Color Environmental price movement. The serial correlation of -0.39 indicates that just about 39.0% of current Elite Color price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.39 | |
| Spearman Rank Test | -0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 0.73 |
Elite Color Environmental lagged returns against current returns
Autocorrelation, which is Elite Color 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 Elite Color's stock expected returns. We can calculate the autocorrelation of Elite Color returns to help us make a trade decision. For example, suppose you find that Elite Color 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 |
Elite Color 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 Elite Color stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elite Color stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elite Color stock over time.
Current vs Lagged Prices |
| Timeline |
Elite Color Lagged Returns
When evaluating Elite Color's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elite Color stock have on its future price. Elite Color 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, Elite Color autocorrelation shows the relationship between Elite Color stock current value and its past values and can show if there is a momentum factor associated with investing in Elite Color Environmental.
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 Elite Stock
Elite Color financial ratios help investors to determine whether Elite 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 Elite with respect to the benefits of owning Elite Color security.