Hengyuan Refining (Malaysia) Market Value
| 4324 Stock | 2.03 0.03 1.50% |
| Symbol | Hengyuan |
Hengyuan Refining '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 Hengyuan Refining'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 Hengyuan Refining.
| 06/04/2024 |
| 12/01/2024 |
If you would invest 0.00 in Hengyuan Refining on June 4, 2024 and sell it all today you would earn a total of 0.00 from holding Hengyuan Refining or generate 0.0% return on investment in Hengyuan Refining over 180 days. Hengyuan Refining is related to or competes with Senheng New, Binasat Communications, Press Metal, and Riverview Rubber. More
Hengyuan Refining 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 Hengyuan Refining'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 Hengyuan Refining upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 32.5 | |||
| Value At Risk | (4.38) | |||
| Potential Upside | 5.79 |
Hengyuan Refining Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hengyuan Refining's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hengyuan Refining's standard deviation. In reality, there are many statistical measures that can use Hengyuan Refining historical prices to predict the future Hengyuan Refining's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | 0.0261 | |||
| Total Risk Alpha | (0.81) | |||
| Treynor Ratio | 0.0955 |
Hengyuan Refining Backtested Returns
Hengyuan Refining holds Efficiency (Sharpe) Ratio of -0.0111, which attests that the entity had a -0.0111% return per unit of risk over the last 3 months. Hengyuan Refining exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hengyuan Refining's Standard Deviation of 4.36, market risk adjusted performance of 0.1055, and insignificant Risk Adjusted Performance to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.81, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Hengyuan Refining are expected to decrease at a much lower rate. During the bear market, Hengyuan Refining is likely to outperform the market. At this point, Hengyuan Refining has a negative expected return of -0.0492%. Please make sure to check out Hengyuan Refining's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Hengyuan Refining performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.11 |
Insignificant predictability
Hengyuan Refining has insignificant predictability. Overlapping area represents the amount of predictability between Hengyuan Refining time series from 4th of June 2024 to 2nd of September 2024 and 2nd of September 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 Hengyuan Refining price movement. The serial correlation of 0.11 indicates that less than 11.0% of current Hengyuan Refining price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.11 | |
| Spearman Rank Test | -0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
Hengyuan Refining lagged returns against current returns
Autocorrelation, which is Hengyuan Refining 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 Hengyuan Refining's stock expected returns. We can calculate the autocorrelation of Hengyuan Refining returns to help us make a trade decision. For example, suppose you find that Hengyuan Refining 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 |
Hengyuan Refining 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 Hengyuan Refining stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hengyuan Refining stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hengyuan Refining stock over time.
Current vs Lagged Prices |
| Timeline |
Hengyuan Refining Lagged Returns
When evaluating Hengyuan Refining's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hengyuan Refining stock have on its future price. Hengyuan Refining 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, Hengyuan Refining autocorrelation shows the relationship between Hengyuan Refining stock current value and its past values and can show if there is a momentum factor associated with investing in Hengyuan Refining.
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 Hengyuan Stock
Hengyuan Refining financial ratios help investors to determine whether Hengyuan 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 Hengyuan with respect to the benefits of owning Hengyuan Refining security.