8Common (Australia) Market Value
| 8CO Stock | 0.03 0 3.33% |
| Symbol | 8Common |
8Common '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 8Common's 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 8Common.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in 8Common on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding 8Common or generate 0.0% return on investment in 8Common over 30 days. 8Common is related to or competes with BKI Investment, Diversified United, Hudson Investment, Janison Education, Argo Investments, Auctus Alternative, and MFF Capital. More
8Common 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 8Common's 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 8Common upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 32.88 | |||
| Value At Risk | (9.52) | |||
| Potential Upside | 9.09 |
8Common Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for 8Common's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 8Common's standard deviation. In reality, there are many statistical measures that can use 8Common historical prices to predict the future 8Common's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.82) | |||
| Treynor Ratio | (0.20) |
8Common Backtested Returns
8Common secures Sharpe Ratio (or Efficiency) of -0.0189, which signifies that the company had a -0.0189% return per unit of standard deviation over the last 3 months. 8Common exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm 8Common's Coefficient Of Variation of (5,300), variance of 29.42, and Mean Deviation of 3.03 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.56, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, 8Common's returns are expected to increase less than the market. However, during the bear market, the loss of holding 8Common is expected to be smaller as well. At this point, 8Common has a negative expected return of -0.1%. Please make sure to confirm 8Common's jensen alpha, treynor ratio, value at risk, as well as the relationship between the total risk alpha and maximum drawdown , to decide if 8Common performance from the past will be repeated at future time.
Auto-correlation | 0.74 |
Good predictability
8Common has good predictability. Overlapping area represents the amount of predictability between 8Common time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 8Common price movement. The serial correlation of 0.74 indicates that around 74.0% of current 8Common price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.74 | |
| Spearman Rank Test | -0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
8Common lagged returns against current returns
Autocorrelation, which is 8Common 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 8Common's stock expected returns. We can calculate the autocorrelation of 8Common returns to help us make a trade decision. For example, suppose you find that 8Common has exhibited high autocorrelation historically, and you observe that the 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 |
8Common 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 8Common stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 8Common stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 8Common stock over time.
Current vs Lagged Prices |
| Timeline |
8Common Lagged Returns
When evaluating 8Common's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 8Common stock have on its future price. 8Common 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, 8Common autocorrelation shows the relationship between 8Common stock current value and its past values and can show if there is a momentum factor associated with investing in 8Common.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Additional Tools for 8Common Stock Analysis
When running 8Common's price analysis, check to measure 8Common'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 8Common is operating at the current time. Most of 8Common's value examination focuses on studying past and present price action to predict the probability of 8Common's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move 8Common's price. Additionally, you may evaluate how the addition of 8Common to your portfolios can decrease your overall portfolio volatility.