Ashapura Minechem (India) Market Value
| ASHAPURMIN | 463.95 41.60 9.85% |
| Symbol | Ashapura |
Ashapura Minechem '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 Ashapura Minechem'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 Ashapura Minechem.
| 12/18/2023 |
| 12/12/2024 |
If you would invest 0.00 in Ashapura Minechem on December 18, 2023 and sell it all today you would earn a total of 0.00 from holding Ashapura Minechem Limited or generate 0.0% return on investment in Ashapura Minechem over 360 days. Ashapura Minechem is related to or competes with NMDC, Steel Authority, Embassy Office, Gujarat Narmada, Gujarat Alkalies, Indian Metals, and JTL Industries. Ashapura Minechem is entity of India. It is traded as Stock on NSE exchange. More
Ashapura Minechem 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 Ashapura Minechem'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 Ashapura Minechem Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.82 | |||
| Information Ratio | 0.1435 | |||
| Maximum Drawdown | 28.89 | |||
| Value At Risk | (3.45) | |||
| Potential Upside | 9.45 |
Ashapura Minechem Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ashapura Minechem's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ashapura Minechem's standard deviation. In reality, there are many statistical measures that can use Ashapura Minechem historical prices to predict the future Ashapura Minechem's volatility.| Risk Adjusted Performance | 0.1306 | |||
| Jensen Alpha | 0.701 | |||
| Total Risk Alpha | 0.0411 | |||
| Sortino Ratio | 0.1454 | |||
| Treynor Ratio | 0.8147 |
Ashapura Minechem Backtested Returns
Ashapura Minechem appears to be very steady, given 3 months investment horizon. Ashapura Minechem secures Sharpe Ratio (or Efficiency) of 0.15, which signifies that the company had a 0.15% return per unit of standard deviation over the last 3 months. By analyzing Ashapura Minechem's technical indicators, you can evaluate if the expected return of 0.77% is justified by implied risk. Please makes use of Ashapura Minechem's mean deviation of 3.37, and Risk Adjusted Performance of 0.1306 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Ashapura Minechem holds a performance score of 12. The firm shows a Beta (market volatility) of 1.0, which signifies a somewhat significant risk relative to the market. Ashapura Minechem returns are very sensitive to returns on the market. As the market goes up or down, Ashapura Minechem is expected to follow. Please check Ashapura Minechem's downside variance, day median price, and the relationship between the treynor ratio and kurtosis , to make a quick decision on whether Ashapura Minechem's price patterns will revert.
Auto-correlation | 0.80 |
Very good predictability
Ashapura Minechem Limited has very good predictability. Overlapping area represents the amount of predictability between Ashapura Minechem time series from 18th of December 2023 to 15th of June 2024 and 15th of June 2024 to 12th 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 Ashapura Minechem price movement. The serial correlation of 0.8 indicates that around 80.0% of current Ashapura Minechem price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.8 | |
| Spearman Rank Test | 0.48 | |
| Residual Average | 0.0 | |
| Price Variance | 2815.7 |
Ashapura Minechem lagged returns against current returns
Autocorrelation, which is Ashapura Minechem 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 Ashapura Minechem's stock expected returns. We can calculate the autocorrelation of Ashapura Minechem returns to help us make a trade decision. For example, suppose you find that Ashapura Minechem 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 |
Ashapura Minechem 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 Ashapura Minechem stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ashapura Minechem stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ashapura Minechem stock over time.
Current vs Lagged Prices |
| Timeline |
Ashapura Minechem Lagged Returns
When evaluating Ashapura Minechem's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ashapura Minechem stock have on its future price. Ashapura Minechem 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, Ashapura Minechem autocorrelation shows the relationship between Ashapura Minechem stock current value and its past values and can show if there is a momentum factor associated with investing in Ashapura Minechem Limited.
Regressed Prices |
| Timeline |
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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.Additional Tools for Ashapura Stock Analysis
When running Ashapura Minechem's price analysis, check to measure Ashapura Minechem's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Ashapura Minechem is operating at the current time. Most of Ashapura Minechem's value examination focuses on studying past and present price action to predict the probability of Ashapura Minechem's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ashapura Minechem's price. Additionally, you may evaluate how the addition of Ashapura Minechem to your portfolios can decrease your overall portfolio volatility.