Driveitaway Stock Market Value

DWAY Stock  USD 0.02  0  16.67%   
DriveItAway's market value is the price at which a share of DriveItAway trades on a public exchange. It measures the collective expectations of DriveItAway investors about its performance. DriveItAway is trading at 0.02 as of the 15th of December 2024; that is 16.67 percent decrease since the beginning of the trading day. The stock's open price was 0.024.
With this module, you can estimate the performance of a buy and hold strategy of DriveItAway and determine expected loss or profit from investing in DriveItAway over a given investment horizon. Check out DriveItAway Correlation, DriveItAway Volatility and DriveItAway Alpha and Beta module to complement your research on DriveItAway.
Symbol

Please note, there is a significant difference between DriveItAway's value and its price as these two are different measures arrived at by different means. Investors typically determine if DriveItAway is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, DriveItAway'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.

DriveItAway '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 DriveItAway's pink sheet 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 DriveItAway.
0.00
11/15/2024
No Change 0.00  0.0 
In 31 days
12/15/2024
0.00
If you would invest  0.00  in DriveItAway on November 15, 2024 and sell it all today you would earn a total of 0.00 from holding DriveItAway or generate 0.0% return on investment in DriveItAway over 30 days. DriveItAway is related to or competes with McGrath RentCorp, Custom Truck, Herc Holdings, Alta Equipment, Multi Ways, FlexShopper, and Hertz Global. DriveItAway Inc. develops and offers a cloud platformconsumer application that enables dealers to sell vehicles through ... More

DriveItAway 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 DriveItAway's pink sheet 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 DriveItAway upside and downside potential and time the market with a certain degree of confidence.

DriveItAway Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for DriveItAway's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as DriveItAway's standard deviation. In reality, there are many statistical measures that can use DriveItAway historical prices to predict the future DriveItAway's volatility.
Hype
Prediction
LowEstimatedHigh
0.000.0214.66
Details
Intrinsic
Valuation
LowRealHigh
0.000.0214.66
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as DriveItAway. Your research has to be compared to or analyzed against DriveItAway's peers to derive any actionable benefits. When done correctly, DriveItAway's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in DriveItAway.

DriveItAway Backtested Returns

DriveItAway secures Sharpe Ratio (or Efficiency) of -0.0482, which denotes the company had a -0.0482% return per unit of risk over the last 3 months. DriveItAway exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm DriveItAway's Mean Deviation of 5.48, variance of 214.27, and Standard Deviation of 14.64 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 4.57, which means 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, DriveItAway will likely underperform. At this point, DriveItAway has a negative expected return of -0.7%. Please make sure to confirm DriveItAway's coefficient of variation, value at risk, as well as the relationship between the Value At Risk and rate of daily change , to decide if DriveItAway performance from the past will be repeated at some point in the near future.

Auto-correlation

    
  0.57  

Modest predictability

DriveItAway has modest predictability. Overlapping area represents the amount of predictability between DriveItAway time series from 15th of November 2024 to 30th of November 2024 and 30th of November 2024 to 15th 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 DriveItAway price movement. The serial correlation of 0.57 indicates that roughly 57.0% of current DriveItAway price fluctuation can be explain by its past prices.
Correlation Coefficient0.57
Spearman Rank Test-0.27
Residual Average0.0
Price Variance0.0
DriveItAway ReturnsDriveItAway Lagged ReturnsDiversified AwayDriveItAway ReturnsDriveItAway Lagged ReturnsDiversified Away100%

DriveItAway lagged returns against current returns

Autocorrelation, which is DriveItAway pink sheet'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 DriveItAway's pink sheet expected returns. We can calculate the autocorrelation of DriveItAway returns to help us make a trade decision. For example, suppose you find that DriveItAway has exhibited high autocorrelation historically, and you observe that the pink sheet 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   
JavaScript chart by amCharts 3.21.15DecDec 04Dec 06Dec 08Dec 10Dec 12Dec 14-30%-25%-20%-15%-10%-5%
JavaScript chart by amCharts 3.21.15Volume Lagged Volume Prices Lagged Prices
       Timeline  

DriveItAway 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 DriveItAway pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if DriveItAway pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in DriveItAway pink sheet over time.
   Current vs Lagged Prices   
JavaScript chart by amCharts 3.21.15DecDec 04Dec 06Dec 08Dec 10Dec 12Dec 140.0200.0220.0240.0260.0280.030
JavaScript chart by amCharts 3.21.15Regression Prices Lagged Regression Prices
       Timeline  

DriveItAway Lagged Returns

When evaluating DriveItAway's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of DriveItAway pink sheet have on its future price. DriveItAway 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, DriveItAway autocorrelation shows the relationship between DriveItAway pink sheet current value and its past values and can show if there is a momentum factor associated with investing in DriveItAway.
   Regressed Prices   
JavaScript chart by amCharts 3.21.15Nov 15Nov 19Nov 23Nov 27DecDec 05Dec 09Dec 130.0200.0220.0240.0260.0280.030
JavaScript chart by amCharts 3.21.15Lagged Returns Returns
       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.

Additional Tools for DriveItAway Pink Sheet Analysis

When running DriveItAway's price analysis, check to measure DriveItAway's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy DriveItAway is operating at the current time. Most of DriveItAway's value examination focuses on studying past and present price action to predict the probability of DriveItAway's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move DriveItAway's price. Additionally, you may evaluate how the addition of DriveItAway to your portfolios can decrease your overall portfolio volatility.
News Freq…Investor S…