China Gas Holdings Stock Market Value
| CGHLY Stock | USD 22.10 0.30 1.38% |
| Symbol | China |
China Gas '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 Gas' 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 Gas.
| 03/19/2024 |
| 04/18/2024 |
If you would invest 0.00 in China Gas on March 19, 2024 and sell it all today you would earn a total of 0.00 from holding China Gas Holdings or generate 0.0% return on investment in China Gas over 30 days. China Gas is related to or competes with Naturgy Energy, Hong Kong, Atmos Energy, and NiSource. China Gas Holdings Limited operates as a gas operator and service provider in the Peoples Republic of China More
China Gas 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 Gas' 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 Gas Holdings upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 15.03 | |||
| Value At Risk | (6.16) | |||
| Potential Upside | 4.26 |
China Gas Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for China Gas' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as China Gas' standard deviation. In reality, there are many statistical measures that can use China Gas historical prices to predict the future China Gas' volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.30) | |||
| Treynor Ratio | (0.12) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of China Gas' 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 Gas Holdings Backtested Returns
We consider China Gas not too volatile. China Gas Holdings secures Sharpe Ratio (or Efficiency) of 0.0122, which signifies that the company had a 0.0122% return per unit of risk over the last 3 months. We have found twenty-three technical indicators for China Gas Holdings, which you can use to evaluate the volatility of the firm. Please confirm China Gas' Standard Deviation of 2.55, risk adjusted performance of (0.02), and Mean Deviation of 1.26 to double-check if the risk estimate we provide is consistent with the expected return of 0.0289%. The firm shows a Beta (market volatility) of 0.96, which signifies possible diversification benefits within a given portfolio. China Gas returns are very sensitive to returns on the market. As the market goes up or down, China Gas is expected to follow. China Gas Holdings right now shows a risk of 2.37%. Please confirm China Gas Holdings coefficient of variation, value at risk, as well as the relationship between the Value At Risk and rate of daily change , to decide if China Gas Holdings will be following its price patterns.
Auto-correlation | -0.11 |
Insignificant reverse predictability
China Gas Holdings has insignificant reverse predictability. Overlapping area represents the amount of predictability between China Gas time series from 19th of March 2024 to 3rd of April 2024 and 3rd of April 2024 to 18th of April 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 Gas Holdings price movement. The serial correlation of -0.11 indicates that less than 11.0% of current China Gas price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.11 | |
| Spearman Rank Test | 0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 1.13 |
China Gas Holdings lagged returns against current returns
Autocorrelation, which is China Gas 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 Gas' pink sheet expected returns. We can calculate the autocorrelation of China Gas returns to help us make a trade decision. For example, suppose you find that China Gas 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 Gas 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 Gas pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if China Gas 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 Gas pink sheet over time.
Current vs Lagged Prices |
| Timeline |
China Gas Lagged Returns
When evaluating China Gas' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of China Gas pink sheet have on its future price. China Gas 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 Gas autocorrelation shows the relationship between China Gas pink sheet current value and its past values and can show if there is a momentum factor associated with investing in China Gas Holdings.
Regressed Prices |
| Timeline |
Pair Trading with China Gas
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 Gas 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 Gas will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to China Gas 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 Gas 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 Gas - 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 Gas Holdings to buy it.
The correlation of China Gas 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 Gas moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if China Gas Holdings 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 Gas 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 Gas Correlation, China Gas Volatility and China Gas Alpha and Beta module to complement your research on China Gas. You can also try the Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
Complementary Tools for China Pink Sheet analysis
When running China Gas' price analysis, check to measure China Gas' 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 Gas is operating at the current time. Most of China Gas' value examination focuses on studying past and present price action to predict the probability of China Gas' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move China Gas' price. Additionally, you may evaluate how the addition of China Gas to your portfolios can decrease your overall portfolio volatility.
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China Gas 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.