BitNine Co (Korea) Market Value
| 357880 Stock | 2,645 30.00 1.15% |
| Symbol | BitNine |
BitNine Co '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 BitNine Co'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 BitNine Co.
| 12/25/2023 |
| 12/19/2024 |
If you would invest 0.00 in BitNine Co on December 25, 2023 and sell it all today you would earn a total of 0.00 from holding BitNine Co or generate 0.0% return on investment in BitNine Co over 360 days.
BitNine Co 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 BitNine Co'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 BitNine Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 7.95 | |||
| Information Ratio | 0.1009 | |||
| Maximum Drawdown | 58.95 | |||
| Value At Risk | (10.98) | |||
| Potential Upside | 29.83 |
BitNine Co Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BitNine Co's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BitNine Co's standard deviation. In reality, there are many statistical measures that can use BitNine Co historical prices to predict the future BitNine Co's volatility.| Risk Adjusted Performance | 0.0916 | |||
| Jensen Alpha | 1.12 | |||
| Total Risk Alpha | 0.852 | |||
| Sortino Ratio | 0.1376 | |||
| Treynor Ratio | (7.31) |
BitNine Co Backtested Returns
BitNine Co is very steady given 3 months investment horizon. BitNine Co secures Sharpe Ratio (or Efficiency) of 0.11, which signifies that the company had a 0.11% return per unit of risk over the last 3 months. We were able to analyze twenty-nine different technical indicators, which can help you to evaluate if expected returns of 1.24% are justified by taking the suggested risk. Use BitNine Co Mean Deviation of 7.14, risk adjusted performance of 0.0916, and Downside Deviation of 7.95 to evaluate company specific risk that cannot be diversified away. BitNine Co holds a performance score of 8 on a scale of zero to a hundred. The firm shows a Beta (market volatility) of -0.15, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning BitNine Co are expected to decrease at a much lower rate. During the bear market, BitNine Co is likely to outperform the market. Use BitNine Co standard deviation, total risk alpha, treynor ratio, as well as the relationship between the jensen alpha and sortino ratio , to analyze future returns on BitNine Co.
Auto-correlation | -0.63 |
Very good reverse predictability
BitNine Co has very good reverse predictability. Overlapping area represents the amount of predictability between BitNine Co time series from 25th of December 2023 to 22nd of June 2024 and 22nd of June 2024 to 19th 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 BitNine Co price movement. The serial correlation of -0.63 indicates that roughly 63.0% of current BitNine Co price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.63 | |
| Spearman Rank Test | -0.58 | |
| Residual Average | 0.0 | |
| Price Variance | 286.6 K |
BitNine Co lagged returns against current returns
Autocorrelation, which is BitNine Co 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 BitNine Co's stock expected returns. We can calculate the autocorrelation of BitNine Co returns to help us make a trade decision. For example, suppose you find that BitNine Co 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 |
BitNine Co 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 BitNine Co stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BitNine Co stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BitNine Co stock over time.
Current vs Lagged Prices |
| Timeline |
BitNine Co Lagged Returns
When evaluating BitNine Co's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BitNine Co stock have on its future price. BitNine Co 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, BitNine Co autocorrelation shows the relationship between BitNine Co stock current value and its past values and can show if there is a momentum factor associated with investing in BitNine Co.
Regressed Prices |
| Timeline |
Pair Trading with BitNine Co
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 BitNine Co 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 BitNine Co will appreciate offsetting losses from the drop in the long position's value.Moving against BitNine Stock
| 0.77 | 006400 | Samsung SDI | PairCorr |
| 0.71 | 051910 | LG Chemicals | PairCorr |
| 0.68 | 051915 | LG Chem | PairCorr |
| 0.66 | 207940 | Samsung Biologics | PairCorr |
| 0.57 | 005387 | Hyundai Motor | PairCorr |
The ability to find closely correlated positions to BitNine Co could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BitNine Co 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 BitNine Co - 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 BitNine Co to buy it.
The correlation of BitNine Co 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 BitNine Co moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BitNine Co 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 BitNine Co 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.