COV Market Value
| COV Crypto | USD 0.36 0.02 5.88% |
| Symbol | COV |
COV '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 COV's crypto coin 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 COV.
| 09/01/2024 |
| 11/30/2024 |
If you would invest 0.00 in COV on September 1, 2024 and sell it all today you would earn a total of 0.00 from holding COV or generate 0.0% return on investment in COV over 90 days. COV is related to or competes with XRP, Solana, Staked Ether, Sui, Toncoin, Worldcoin, and Stellar. COV is peer-to-peer digital currency powered by the Blockchain technology.
COV 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 COV's crypto coin 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 COV upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.59 | |||
| Information Ratio | 0.184 | |||
| Maximum Drawdown | 21.9 | |||
| Value At Risk | (4.55) | |||
| Potential Upside | 7.69 |
COV Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for COV's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as COV's standard deviation. In reality, there are many statistical measures that can use COV historical prices to predict the future COV's volatility.| Risk Adjusted Performance | 0.1772 | |||
| Jensen Alpha | 0.8139 | |||
| Total Risk Alpha | 0.1903 | |||
| Sortino Ratio | 0.1211 | |||
| Treynor Ratio | (10.61) |
COV Backtested Returns
COV appears to be very volatile, given 3 months investment horizon. COV secures Sharpe Ratio (or Efficiency) of 0.22, which signifies that digital coin had a 0.22% return per unit of volatility over the last 3 months. By analyzing COV's technical indicators, you can evaluate if the expected return of 0.83% is justified by implied risk. Please makes use of COV's risk adjusted performance of 0.1772, and Mean Deviation of 2.54 to double-check if our risk estimates are consistent with your expectations. The crypto shows a Beta (market volatility) of -0.0758, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning COV are expected to decrease at a much lower rate. During the bear market, COV is likely to outperform the market.
Auto-correlation | 0.56 |
Modest predictability
COV has modest predictability. Overlapping area represents the amount of predictability between COV time series from 1st of September 2024 to 16th of October 2024 and 16th of October 2024 to 30th of November 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 COV price movement. The serial correlation of 0.56 indicates that roughly 56.0% of current COV price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.56 | |
| Spearman Rank Test | 0.68 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
COV lagged returns against current returns
Autocorrelation, which is COV crypto coin'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 COV's crypto coin expected returns. We can calculate the autocorrelation of COV returns to help us make a trade decision. For example, suppose you find that COV has exhibited high autocorrelation historically, and you observe that the crypto coin 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 |
COV 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 COV crypto coin is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if COV crypto coin is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in COV crypto coin over time.
Current vs Lagged Prices |
| Timeline |
COV Lagged Returns
When evaluating COV's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of COV crypto coin have on its future price. COV 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, COV autocorrelation shows the relationship between COV crypto coin current value and its past values and can show if there is a momentum factor associated with investing in COV.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether COV offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of COV's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Cov Crypto.Check out COV Correlation, COV Volatility and Investing Opportunities module to complement your research on COV. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
COV technical crypto coin 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, crypto market cycles, or different charting patterns.