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V-Lab

Shenzhen Zhongheng Huafa Co Ltd Spline ILLIQ Liquidity Analysis

Liquidity prediction for Monday, July 13th, 2026

1 Day

160,213.80

increased by 19,319.90

1 Week

95,933.40

decreased by 44,960.50

1 Month

49,685.78

decreased by 91,208.12

Analysis last updated: Saturday, July 11, 2026 at 07:37 PM UTC

Date Range:

from

to

6M ·

1Y ·

2Y ·

5Y ·

10Y ·

All

graph of Shenzhen Zhongheng Huafa Co Ltd ILLIQ-SMEM

News Impact Curve

How returns affect tomorrow's liquidity

Liquidity Forecast

How liquidity evolves over time

Parameter Estimates

Apr 28, 1992 to Jul 10, 2026

Model Insight

With persistence 1.000, illiquidity shocks have a half-life of 1829 trading days (~7.3 years), close to a unit root, so long-run forecasts are highly sensitive to this estimate.

μ

ILLIQ-SMEM Model

Tap to view equation

ParameterValuet-statistic
ω

const

Unconditional variance weight

1.3287
2.42**
α

ARCH

Response to squared shocks

0.2167
10.54***
β

GARCH

Volatility persistence

0.7830
37.99***
γi Spline Coefficients
K=8
γ10.0254
0.23
γ2-1.1145
-5.25***
γ33.1157
7.71***
γ4-4.1524
-6.73***
γ51.3211
1.29
γ63.0181
1.60
γ7-0.3547
-0.18
γ8-5.3289
-1.74*

Persistence:

1.000

Half-life:

1829 days