Purpose Bitcoin Yield Etf Market Value
| BTCY Etf | 9.03 0.13 1.46% |
| Symbol | Purpose |
Purpose Bitcoin '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 Purpose Bitcoin's etf 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 Purpose Bitcoin.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Purpose Bitcoin on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Purpose Bitcoin Yield or generate 0.0% return on investment in Purpose Bitcoin over 30 days. Purpose Bitcoin is related to or competes with Purpose Ether, Hamilton Enhanced, Harvest Diversified, Real Estate, and Hamilton Enhanced. More
Purpose Bitcoin 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 Purpose Bitcoin's etf 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 Purpose Bitcoin Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.32 | |||
| Information Ratio | 0.1741 | |||
| Maximum Drawdown | 15.97 | |||
| Value At Risk | (3.01) | |||
| Potential Upside | 6.1 |
Purpose Bitcoin Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Purpose Bitcoin's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Purpose Bitcoin's standard deviation. In reality, there are many statistical measures that can use Purpose Bitcoin historical prices to predict the future Purpose Bitcoin's volatility.| Risk Adjusted Performance | 0.1731 | |||
| Jensen Alpha | 0.5316 | |||
| Total Risk Alpha | 0.1729 | |||
| Sortino Ratio | 0.2351 | |||
| Treynor Ratio | 0.5961 |
Purpose Bitcoin Yield Backtested Returns
Purpose Bitcoin appears to be somewhat reliable, given 3 months investment horizon. Purpose Bitcoin Yield maintains Sharpe Ratio (i.e., Efficiency) of 0.21, which implies the entity had a 0.21% return per unit of risk over the last 3 months. By analyzing Purpose Bitcoin's technical indicators, you can evaluate if the expected return of 0.67% is justified by implied risk. Please evaluate Purpose Bitcoin's Semi Deviation of 1.82, coefficient of variation of 463.34, and Risk Adjusted Performance of 0.1731 to confirm if our risk estimates are consistent with your expectations. The etf holds a Beta of 1.12, which implies a somewhat significant risk relative to the market. Purpose Bitcoin returns are very sensitive to returns on the market. As the market goes up or down, Purpose Bitcoin is expected to follow.
Auto-correlation | 0.66 |
Good predictability
Purpose Bitcoin Yield has good predictability. Overlapping area represents the amount of predictability between Purpose Bitcoin time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 Purpose Bitcoin Yield price movement. The serial correlation of 0.66 indicates that around 66.0% of current Purpose Bitcoin price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.66 | |
| Spearman Rank Test | 0.76 | |
| Residual Average | 0.0 | |
| Price Variance | 0.19 |
Purpose Bitcoin Yield lagged returns against current returns
Autocorrelation, which is Purpose Bitcoin etf'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 Purpose Bitcoin's etf expected returns. We can calculate the autocorrelation of Purpose Bitcoin returns to help us make a trade decision. For example, suppose you find that Purpose Bitcoin has exhibited high autocorrelation historically, and you observe that the etf 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 |
Purpose Bitcoin 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 Purpose Bitcoin etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Purpose Bitcoin etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Purpose Bitcoin etf over time.
Current vs Lagged Prices |
| Timeline |
Purpose Bitcoin Lagged Returns
When evaluating Purpose Bitcoin's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Purpose Bitcoin etf have on its future price. Purpose Bitcoin 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, Purpose Bitcoin autocorrelation shows the relationship between Purpose Bitcoin etf current value and its past values and can show if there is a momentum factor associated with investing in Purpose Bitcoin Yield.
Regressed Prices |
| Timeline |
Pair Trading with Purpose Bitcoin
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Purpose Bitcoin position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Purpose Bitcoin will appreciate offsetting losses from the drop in the long position's value.Moving together with Purpose Etf
| 1.0 | BTCQ | 3iQ Bitcoin ETF | PairCorr |
| 1.0 | BTCC | Purpose Bitcoin CAD | PairCorr |
| 0.79 | ETHQ | 3iQ CoinShares Ether | PairCorr |
Moving against Purpose Etf
| 0.76 | BITI | BetaPro Inverse Bitcoin | PairCorr |
| 0.58 | TCLB | TD Canadian Long | PairCorr |
| 0.46 | HUV | BetaPro SP 500 | PairCorr |
| 0.36 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.35 | XBB | iShares Canadian Universe | PairCorr |
The ability to find closely correlated positions to Purpose Bitcoin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Purpose Bitcoin when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Purpose Bitcoin - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Purpose Bitcoin Yield to buy it.
The correlation of Purpose Bitcoin is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Purpose Bitcoin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Bitcoin Yield moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Purpose Bitcoin can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Purpose Etf
Purpose Bitcoin financial ratios help investors to determine whether Purpose Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Purpose with respect to the benefits of owning Purpose Bitcoin security.