BIT Computer (Korea) Market Value
| 032850 Stock | KRW 5,010 70.00 1.38% |
| Symbol | BIT |
BIT Computer '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 BIT Computer'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 BIT Computer.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in BIT Computer on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding BIT Computer Co or generate 0.0% return on investment in BIT Computer over 30 days. BIT Computer is related to or competes with Daejung Chemicals, Koryo Credit, System, Shinsegae Information, Ssangyong Information, Korea Information, and SCI Information. BIT Computer Co., Ltd provides hospital, clinic, and pharmacy solutions in South Korea, Thailand, Ukraine, Kazakhstan, A... More
BIT Computer 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 BIT Computer'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 BIT Computer Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 9.87 | |||
| Value At Risk | (2.93) | |||
| Potential Upside | 2.72 |
BIT Computer Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BIT Computer's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BIT Computer's standard deviation. In reality, there are many statistical measures that can use BIT Computer historical prices to predict the future BIT Computer's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.44) | |||
| Treynor Ratio | (0.59) |
BIT Computer Backtested Returns
BIT Computer secures Sharpe Ratio (or Efficiency) of -0.0791, which signifies that the company had a -0.0791% return per unit of volatility over the last 3 months. BIT Computer Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BIT Computer's mean deviation of 1.27, and Risk Adjusted Performance of (0.06) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.25, which signifies not very significant fluctuations relative to the market. As returns on the market increase, BIT Computer's returns are expected to increase less than the market. However, during the bear market, the loss of holding BIT Computer is expected to be smaller as well. At this point, BIT Computer has a negative expected return of -0.12%. Please make sure to confirm BIT Computer's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if BIT Computer performance from the past will be repeated in the future.
Auto-correlation | -0.85 |
Excellent reverse predictability
BIT Computer Co has excellent reverse predictability. Overlapping area represents the amount of predictability between BIT Computer time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 BIT Computer price movement. The serial correlation of -0.85 indicates that around 85.0% of current BIT Computer price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.85 | |
| Spearman Rank Test | -0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 7212.81 |
BIT Computer lagged returns against current returns
Autocorrelation, which is BIT Computer 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 BIT Computer's stock expected returns. We can calculate the autocorrelation of BIT Computer returns to help us make a trade decision. For example, suppose you find that BIT Computer 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 |
BIT Computer 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 BIT Computer stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BIT Computer stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BIT Computer stock over time.
Current vs Lagged Prices |
| Timeline |
BIT Computer Lagged Returns
When evaluating BIT Computer's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BIT Computer stock have on its future price. BIT Computer 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, BIT Computer autocorrelation shows the relationship between BIT Computer stock current value and its past values and can show if there is a momentum factor associated with investing in BIT Computer Co.
Regressed Prices |
| Timeline |
Pair Trading with BIT Computer
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 BIT Computer 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 BIT Computer will appreciate offsetting losses from the drop in the long position's value.Moving together with BIT Stock
Moving against BIT Stock
The ability to find closely correlated positions to BIT Computer could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BIT Computer 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 BIT Computer - 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 BIT Computer Co to buy it.
The correlation of BIT Computer 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 BIT Computer moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BIT Computer 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 BIT Computer 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.Other Information on Investing in BIT Stock
BIT Computer financial ratios help investors to determine whether BIT 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 BIT with respect to the benefits of owning BIT Computer security.