Goobit Group (Sweden) Market Value
| BTCX Stock | SEK 0.14 0.01 6.67% |
| Symbol | Goobit |
Goobit Group '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 Goobit Group'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 Goobit Group.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Goobit Group on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Goobit Group AB or generate 0.0% return on investment in Goobit Group over 180 days. Goobit Group is related to or competes with Media. Goobit Group AB provides cryptocurrency exchange services in Sweden More
Goobit Group 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 Goobit Group'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 Goobit Group AB upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 26.05 | |||
| Value At Risk | (6.67) | |||
| Potential Upside | 7.14 |
Goobit Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Goobit Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Goobit Group's standard deviation. In reality, there are many statistical measures that can use Goobit Group historical prices to predict the future Goobit Group's volatility.| Risk Adjusted Performance | 9.0E-4 | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.98) | |||
| Treynor Ratio | 0.5036 |
Goobit Group AB Backtested Returns
Currently, Goobit Group AB is out of control. Goobit Group AB holds Efficiency (Sharpe) Ratio of 0.0073, which attests that the entity had a 0.0073% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for Goobit Group AB, which you can use to evaluate the volatility of the firm. Please check out Goobit Group's Risk Adjusted Performance of 9.0E-4, standard deviation of 5.49, and Market Risk Adjusted Performance of 0.5136 to validate if the risk estimate we provide is consistent with the expected return of 0.0396%. The company retains a Market Volatility (i.e., Beta) of -0.13, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Goobit Group are expected to decrease at a much lower rate. During the bear market, Goobit Group is likely to outperform the market. Goobit Group AB right now retains a risk of 5.44%. Please check out Goobit Group maximum drawdown, potential upside, and the relationship between the treynor ratio and value at risk , to decide if Goobit Group will be following its current trending patterns.
Auto-correlation | -0.12 |
Insignificant reverse predictability
Goobit Group AB has insignificant reverse predictability. Overlapping area represents the amount of predictability between Goobit Group time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 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 Goobit Group AB price movement. The serial correlation of -0.12 indicates that less than 12.0% of current Goobit Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.12 | |
| Spearman Rank Test | -0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Goobit Group AB lagged returns against current returns
Autocorrelation, which is Goobit Group 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 Goobit Group's stock expected returns. We can calculate the autocorrelation of Goobit Group returns to help us make a trade decision. For example, suppose you find that Goobit Group 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 |
Goobit Group 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 Goobit Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Goobit Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Goobit Group stock over time.
Current vs Lagged Prices |
| Timeline |
Goobit Group Lagged Returns
When evaluating Goobit Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Goobit Group stock have on its future price. Goobit Group 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, Goobit Group autocorrelation shows the relationship between Goobit Group stock current value and its past values and can show if there is a momentum factor associated with investing in Goobit Group AB.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Additional Tools for Goobit Stock Analysis
When running Goobit Group's price analysis, check to measure Goobit Group'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 Goobit Group is operating at the current time. Most of Goobit Group's value examination focuses on studying past and present price action to predict the probability of Goobit Group's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Goobit Group's price. Additionally, you may evaluate how the addition of Goobit Group to your portfolios can decrease your overall portfolio volatility.