ELA Market Value
| ELA Crypto | USD 2.26 0.02 0.88% |
| Symbol | ELA |
ELA '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 ELA'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 ELA.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in ELA on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding ELA or generate 0.0% return on investment in ELA over 30 days. ELA is related to or competes with Staked Ether, EigenLayer, BLZ, Highstreet, Tokocrypto, and DIA. ELA is peer-to-peer digital currency powered by the Blockchain technology.
ELA 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 ELA'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 ELA upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.55 | |||
| Information Ratio | 0.0557 | |||
| Maximum Drawdown | 44.72 | |||
| Value At Risk | (6.22) | |||
| Potential Upside | 7.73 |
ELA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ELA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ELA's standard deviation. In reality, there are many statistical measures that can use ELA historical prices to predict the future ELA's volatility.| Risk Adjusted Performance | 0.068 | |||
| Jensen Alpha | 0.54 | |||
| Total Risk Alpha | (0.49) | |||
| Sortino Ratio | 0.0731 | |||
| Treynor Ratio | (0.63) |
ELA Backtested Returns
ELA appears to be unusually risky, given 3 months investment horizon. ELA retains Efficiency (Sharpe Ratio) of 0.1, which denotes digital coin had a 0.1% return per unit of risk over the last 3 months. By reviewing ELA's technical indicators, you can evaluate if the expected return of 0.62% is justified by implied risk. Please utilize ELA's Downside Deviation of 4.55, coefficient of variation of 1289.1, and Market Risk Adjusted Performance of (0.62) to check if our risk estimates are consistent with your expectations. The crypto owns a Beta (Systematic Risk) of -0.72, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning ELA are expected to decrease at a much lower rate. During the bear market, ELA is likely to outperform the market.
Auto-correlation | 0.52 |
Modest predictability
ELA has modest predictability. Overlapping area represents the amount of predictability between ELA time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 ELA price movement. The serial correlation of 0.52 indicates that about 52.0% of current ELA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
ELA lagged returns against current returns
Autocorrelation, which is ELA 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 ELA's crypto coin expected returns. We can calculate the autocorrelation of ELA returns to help us make a trade decision. For example, suppose you find that ELA 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 |
ELA 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 ELA crypto coin is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ELA crypto coin is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ELA crypto coin over time.
Current vs Lagged Prices |
| Timeline |
ELA Lagged Returns
When evaluating ELA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ELA crypto coin have on its future price. ELA 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, ELA autocorrelation shows the relationship between ELA crypto coin current value and its past values and can show if there is a momentum factor associated with investing in ELA.
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 ELA offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of ELA'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 Ela Crypto.Check out ELA Correlation, ELA Volatility and Investing Opportunities module to complement your research on ELA. You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
ELA 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.