Sobute New (China) Market Value

603916 Stock   8.31  0.07  0.85%   
Sobute New's market value is the price at which a share of Sobute New trades on a public exchange. It measures the collective expectations of Sobute New Materials investors about its performance. Sobute New is trading at 8.31 as of the 6th of December 2024, a 0.85 percent increase since the beginning of the trading day. The stock's open price was 8.24.
With this module, you can estimate the performance of a buy and hold strategy of Sobute New Materials and determine expected loss or profit from investing in Sobute New over a given investment horizon. Check out Sobute New Correlation, Sobute New Volatility and Sobute New Alpha and Beta module to complement your research on Sobute New.
Symbol

Please note, there is a significant difference between Sobute New's value and its price as these two are different measures arrived at by different means. Investors typically determine if Sobute New is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Sobute New's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Sobute New '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 Sobute New'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 Sobute New.
0.00
05/16/2023
No Change 0.00  0.0 
In 1 year 6 months and 24 days
12/06/2024
0.00
If you would invest  0.00  in Sobute New on May 16, 2023 and sell it all today you would earn a total of 0.00 from holding Sobute New Materials or generate 0.0% return on investment in Sobute New over 570 days. Sobute New is related to or competes with Zijin Mining, Wanhua Chemical, Baoshan Iron, and Rongsheng Petrochemical. Sobute New is entity of China. It is traded as Stock on SHG exchange. More

Sobute New 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 Sobute New'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 Sobute New Materials upside and downside potential and time the market with a certain degree of confidence.

Sobute New Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Sobute New's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sobute New's standard deviation. In reality, there are many statistical measures that can use Sobute New historical prices to predict the future Sobute New's volatility.
Hype
Prediction
LowEstimatedHigh
5.918.4310.95
Details
Intrinsic
Valuation
LowRealHigh
5.447.9610.48
Details
Naive
Forecast
LowNextHigh
5.688.2010.72
Details
Earnings
Estimates (0)
LowProjected EPSHigh
0.000.000.00
Details

Sobute New Materials Backtested Returns

Sobute New appears to be somewhat reliable, given 3 months investment horizon. Sobute New Materials owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.17, which indicates the firm had a 0.17% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Sobute New Materials, which you can use to evaluate the volatility of the company. Please review Sobute New's Coefficient Of Variation of 1060.4, semi deviation of 2.54, and Risk Adjusted Performance of 0.0768 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Sobute New holds a performance score of 13. The entity has a beta of 0.0844, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Sobute New's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sobute New is expected to be smaller as well. Please check Sobute New'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 Sobute New's existing price patterns will revert.

Auto-correlation

    
  0.14  

Insignificant predictability

Sobute New Materials has insignificant predictability. Overlapping area represents the amount of predictability between Sobute New time series from 16th of May 2023 to 25th of February 2024 and 25th of February 2024 to 6th 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 Sobute New Materials price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Sobute New price fluctuation can be explain by its past prices.
Correlation Coefficient0.14
Spearman Rank Test0.29
Residual Average0.0
Price Variance0.67

Sobute New Materials lagged returns against current returns

Autocorrelation, which is Sobute New 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 Sobute New's stock expected returns. We can calculate the autocorrelation of Sobute New returns to help us make a trade decision. For example, suppose you find that Sobute New 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  

Sobute New 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 Sobute New stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sobute New stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sobute New stock over time.
   Current vs Lagged Prices   
       Timeline  

Sobute New Lagged Returns

When evaluating Sobute New's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sobute New stock have on its future price. Sobute New 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, Sobute New autocorrelation shows the relationship between Sobute New stock current value and its past values and can show if there is a momentum factor associated with investing in Sobute New Materials.
   Regressed Prices   
       Timeline  

Currently Active Assets on Macroaxis

Other Information on Investing in Sobute Stock

Sobute New financial ratios help investors to determine whether Sobute 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 Sobute with respect to the benefits of owning Sobute New security.