China Southern Airlines Stock Market Value
CHKIF Stock | USD 0.33 0.01 3.13% |
Symbol | China |
China Southern '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 China Southern's pink sheet 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 China Southern.
02/27/2024 |
| 03/28/2024 |
If you would invest 0.00 in China Southern on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding China Southern Airlines or generate 0.0% return on investment in China Southern over 30 days. China Southern is related to or competes with Ryanair Holdings, Delta Air, Southwest Airlines, and Kroger. China Southern Airlines Company Limited offers airline transportation services in the Peoples Republic of China, Hong Ko... More
China Southern 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 China Southern's pink sheet 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 China Southern Airlines upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.04) | |||
Maximum Drawdown | 32.07 | |||
Value At Risk | (9.30) | |||
Potential Upside | 8.11 |
China Southern Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for China Southern's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as China Southern's standard deviation. In reality, there are many statistical measures that can use China Southern historical prices to predict the future China Southern's volatility.Risk Adjusted Performance | 0.0022 | |||
Jensen Alpha | 0.1135 | |||
Total Risk Alpha | (1.16) | |||
Treynor Ratio | 0.0468 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of China Southern's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
China Southern Airlines Backtested Returns
China Southern Airlines secures Sharpe Ratio (or Efficiency) of -0.0957, which signifies that the company had a -0.0957% return per unit of risk over the last 3 months. China Southern Airlines exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm China Southern's Risk Adjusted Performance of 0.0022, mean deviation of 2.47, and Standard Deviation of 4.88 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -1.46, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning China Southern are expected to decrease by larger amounts. On the other hand, during market turmoil, China Southern is expected to outperform it. China Southern Airlines has an expected return of -0.44%. Please make sure to confirm China Southern Airlines information ratio, kurtosis, period momentum indicator, as well as the relationship between the treynor ratio and rate of daily change , to decide if China Southern Airlines performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.28 |
Poor predictability
China Southern Airlines has poor predictability. Overlapping area represents the amount of predictability between China Southern time series from 27th of February 2024 to 13th of March 2024 and 13th of March 2024 to 28th of March 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 China Southern Airlines price movement. The serial correlation of 0.28 indicates that nearly 28.0% of current China Southern price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.28 | |
Spearman Rank Test | 0.27 | |
Residual Average | 0.0 | |
Price Variance | 0.0 |
China Southern Airlines lagged returns against current returns
Autocorrelation, which is China Southern pink sheet'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 China Southern's pink sheet expected returns. We can calculate the autocorrelation of China Southern returns to help us make a trade decision. For example, suppose you find that China Southern has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
China Southern 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 China Southern pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if China Southern pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in China Southern pink sheet over time.
Current vs Lagged Prices |
Timeline |
China Southern Lagged Returns
When evaluating China Southern's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of China Southern pink sheet have on its future price. China Southern 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, China Southern autocorrelation shows the relationship between China Southern pink sheet current value and its past values and can show if there is a momentum factor associated with investing in China Southern Airlines.
Regressed Prices |
Timeline |
Pair Trading with China Southern
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if China Southern position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in China Southern will appreciate offsetting losses from the drop in the long position's value.Moving against China Pink Sheet
0.64 | RYAAY | Ryanair Holdings PLC Fiscal Quarter End 31st of March 2024 | PairCorr |
0.61 | RYAOF | Ryanair Holdings PLC | PairCorr |
0.48 | LUV | Southwest Airlines Fiscal Quarter End 31st of March 2024 | PairCorr |
0.46 | MBFJF | Mitsubishi UFJ Financial | PairCorr |
0.46 | KB | KB Financial Group Financial Report 20th of May 2024 | PairCorr |
The ability to find closely correlated positions to China Southern could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace China Southern when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back China Southern - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling China Southern Airlines to buy it.
The correlation of China Southern is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as China Southern moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if China Southern Airlines moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for China Southern can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out China Southern Correlation, China Southern Volatility and China Southern Alpha and Beta module to complement your research on China Southern. You can also try the Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Complementary Tools for China Pink Sheet analysis
When running China Southern's price analysis, check to measure China Southern'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 China Southern is operating at the current time. Most of China Southern's value examination focuses on studying past and present price action to predict the probability of China Southern's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move China Southern's price. Additionally, you may evaluate how the addition of China Southern to your portfolios can decrease your overall portfolio volatility.
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China Southern technical pink sheet analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, pink sheet market cycles, or different charting patterns.