Bitwise Crypto Industry Etf Market Value
| BITQ Etf | USD 21.01 0.31 1.50% |
| Symbol | Bitwise |
The market value of Bitwise Crypto Industry is measured differently than its book value, which is the value of Bitwise that is recorded on the company's balance sheet. Investors also form their own opinion of Bitwise Crypto's value that differs from its market value or its book value, called intrinsic value, which is Bitwise Crypto's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Bitwise Crypto's market value can be influenced by many factors that don't directly affect Bitwise Crypto's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Bitwise Crypto's value and its price as these two are different measures arrived at by different means. Investors typically determine if Bitwise Crypto is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Bitwise Crypto's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Bitwise Crypto '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 Bitwise Crypto's etf 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 Bitwise Crypto.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Bitwise Crypto on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Bitwise Crypto Industry or generate 0.0% return on investment in Bitwise Crypto over 30 days. Bitwise Crypto is related to or competes with Bitwise 10, VanEck Digital, Global X, First Trust, and Valkyrie Bitcoin. The index was designed by Bitwise Index Services, LLC to measure the performance of companies involved in servicing the ... More
Bitwise Crypto 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 Bitwise Crypto's etf 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 Bitwise Crypto Industry upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.78 | |||
| Information Ratio | 0.1679 | |||
| Maximum Drawdown | 25.37 | |||
| Value At Risk | (6.69) | |||
| Potential Upside | 8.14 |
Bitwise Crypto Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bitwise Crypto's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bitwise Crypto's standard deviation. In reality, there are many statistical measures that can use Bitwise Crypto historical prices to predict the future Bitwise Crypto's volatility.| Risk Adjusted Performance | 0.1596 | |||
| Jensen Alpha | 0.4838 | |||
| Total Risk Alpha | 0.1323 | |||
| Sortino Ratio | 0.2042 | |||
| Treynor Ratio | 0.2763 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Bitwise Crypto'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.
Bitwise Crypto Industry Backtested Returns
Bitwise Crypto is not too volatile given 3 months investment horizon. Bitwise Crypto Industry secures Sharpe Ratio (or Efficiency) of 0.23, which signifies that the etf had a 0.23% return per unit of risk over the last 3 months. We were able to interpolate and analyze data for thirty different technical indicators, which can help you to evaluate if expected returns of 1.05% are justified by taking the suggested risk. Use Bitwise Crypto Downside Deviation of 3.78, mean deviation of 3.3, and Risk Adjusted Performance of 0.1596 to evaluate company specific risk that cannot be diversified away. The etf shows a Beta (market volatility) of 3.25, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Bitwise Crypto will likely underperform.
Auto-correlation | 0.00 |
No correlation between past and present
Bitwise Crypto Industry has no correlation between past and present. Overlapping area represents the amount of predictability between Bitwise Crypto 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 Bitwise Crypto Industry price movement. The serial correlation of 0.0 indicates that just 0.0% of current Bitwise Crypto price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 0.41 |
Bitwise Crypto Industry lagged returns against current returns
Autocorrelation, which is Bitwise Crypto etf'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 Bitwise Crypto's etf expected returns. We can calculate the autocorrelation of Bitwise Crypto returns to help us make a trade decision. For example, suppose you find that Bitwise Crypto has exhibited high autocorrelation historically, and you observe that the etf 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 |
Bitwise Crypto 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 Bitwise Crypto etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bitwise Crypto etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bitwise Crypto etf over time.
Current vs Lagged Prices |
| Timeline |
Bitwise Crypto Lagged Returns
When evaluating Bitwise Crypto's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bitwise Crypto etf have on its future price. Bitwise Crypto 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, Bitwise Crypto autocorrelation shows the relationship between Bitwise Crypto etf current value and its past values and can show if there is a momentum factor associated with investing in Bitwise Crypto Industry.
Regressed Prices |
| Timeline |
Pair Trading with Bitwise Crypto
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 Bitwise Crypto 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 Bitwise Crypto will appreciate offsetting losses from the drop in the long position's value.Moving together with Bitwise Etf
| 0.97 | GBTC | Grayscale Bitcoin Trust | PairCorr |
| 0.97 | BITO | ProShares Bitcoin | PairCorr |
| 1.0 | BLOK | Amplify Transformational | PairCorr |
| 0.96 | BLCN | Siren Nasdaq NexGen | PairCorr |
Moving against Bitwise Etf
The ability to find closely correlated positions to Bitwise Crypto could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bitwise Crypto 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 Bitwise Crypto - 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 Bitwise Crypto Industry to buy it.
The correlation of Bitwise Crypto 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 Bitwise Crypto moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bitwise Crypto Industry 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 Bitwise Crypto 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 Bitwise Crypto Correlation, Bitwise Crypto Volatility and Bitwise Crypto Alpha and Beta module to complement your research on Bitwise Crypto. You can also try the Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Bitwise Crypto technical etf 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, etf market cycles, or different charting patterns.