Cover Stock Market Value
| COVCF Stock | 17.08 0.11 0.64% |
| Symbol | COVER |
COVER '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 COVER's otc 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 COVER.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in COVER on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding COVER or generate 0.0% return on investment in COVER over 30 days.
COVER 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 COVER's otc 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 COVER upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.93 | |||
| Information Ratio | 0.0959 | |||
| Maximum Drawdown | 16.24 | |||
| Value At Risk | (4.72) | |||
| Potential Upside | 7.21 |
COVER Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for COVER's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as COVER's standard deviation. In reality, there are many statistical measures that can use COVER historical prices to predict the future COVER's volatility.| Risk Adjusted Performance | 0.1085 | |||
| Jensen Alpha | 0.3858 | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | 0.0947 | |||
| Treynor Ratio | 0.5591 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of COVER'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.
COVER Backtested Returns
COVER secures Sharpe Ratio (or Efficiency) of 0.15, which signifies that the company had a 0.15% return per unit of volatility over the last 3 months. By analyzing COVER's technical indicators, you can evaluate if the expected return of 0.59% is justified by implied risk. Please makes use of COVER's risk adjusted performance of 0.1085, and Mean Deviation of 2.48 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, COVER holds a performance score of 11. The firm shows a Beta (market volatility) of 0.89, which signifies possible diversification benefits within a given portfolio. COVER returns are very sensitive to returns on the market. As the market goes up or down, COVER is expected to follow. Please check COVER's skewness, day typical price, and the relationship between the downside variance and daily balance of power , to make a quick decision on whether COVER's price patterns will revert.
Auto-correlation | 0.60 |
Good predictability
COVER has good predictability. Overlapping area represents the amount of predictability between COVER time series from 31st of October 2024 to 15th of November 2024 and 15th of November 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 COVER price movement. The serial correlation of 0.6 indicates that roughly 60.0% of current COVER price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.6 | |
| Spearman Rank Test | 0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.33 |
COVER lagged returns against current returns
Autocorrelation, which is COVER otc 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 COVER's otc stock expected returns. We can calculate the autocorrelation of COVER returns to help us make a trade decision. For example, suppose you find that COVER has exhibited high autocorrelation historically, and you observe that the otc 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 |
COVER 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 COVER otc stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if COVER otc stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in COVER otc stock over time.
Current vs Lagged Prices |
| Timeline |
COVER Lagged Returns
When evaluating COVER's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of COVER otc stock have on its future price. COVER 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, COVER autocorrelation shows the relationship between COVER otc stock current value and its past values and can show if there is a momentum factor associated with investing in COVER.
Regressed Prices |
| Timeline |