New China (China) Market Value
| 601336 Stock | 47.36 1.35 2.93% |
| Symbol | New |
New China '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 New China'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 New China.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in New China on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding New China Life or generate 0.0% return on investment in New China over 30 days. New China is related to or competes with Xinjiang Communications, JCHX Mining, Chengtun Mining, Pengxin International, Shengda Mining, Sunwave Communications, and Zijin Mining. New China is entity of China. It is traded as Stock on SHG exchange. More
New China 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 New China'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 New China Life upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.19 | |||
| Information Ratio | 0.1786 | |||
| Maximum Drawdown | 16.01 | |||
| Value At Risk | (3.97) | |||
| Potential Upside | 9.69 |
New China Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New China's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New China's standard deviation. In reality, there are many statistical measures that can use New China historical prices to predict the future New China's volatility.| Risk Adjusted Performance | 0.1738 | |||
| Jensen Alpha | 0.6581 | |||
| Total Risk Alpha | 0.1695 | |||
| Sortino Ratio | 0.2917 | |||
| Treynor Ratio | 0.8968 |
New China Life Backtested Returns
New China appears to be very steady, given 3 months investment horizon. New China Life has Sharpe Ratio of 0.19, which conveys that the firm had a 0.19% return per unit of risk over the last 3 months. By analyzing New China's technical indicators, you can evaluate if the expected return of 0.67% is justified by implied risk. Please exercise New China's Risk Adjusted Performance of 0.1738, mean deviation of 2.53, and Downside Deviation of 2.19 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, New China holds a performance score of 14. The company secures a Beta (Market Risk) of 0.86, which conveys possible diversification benefits within a given portfolio. New China returns are very sensitive to returns on the market. As the market goes up or down, New China is expected to follow. Please check New China's sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether New China's current price movements will revert.
Auto-correlation | -0.66 |
Very good reverse predictability
New China Life has very good reverse predictability. Overlapping area represents the amount of predictability between New China 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 New China Life price movement. The serial correlation of -0.66 indicates that around 66.0% of current New China price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.66 | |
| Spearman Rank Test | 0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 2.78 |
New China Life lagged returns against current returns
Autocorrelation, which is New China 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 New China's stock expected returns. We can calculate the autocorrelation of New China returns to help us make a trade decision. For example, suppose you find that New China 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 |
New China 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 New China stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New China stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New China stock over time.
Current vs Lagged Prices |
| Timeline |
New China Lagged Returns
When evaluating New China's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New China stock have on its future price. New China 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, New China autocorrelation shows the relationship between New China stock current value and its past values and can show if there is a momentum factor associated with investing in New China Life.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in New Stock
New China financial ratios help investors to determine whether New 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 New with respect to the benefits of owning New China security.