Bitwise Funds Trust Etf Market Value
| BTOP Etf | USD 58.26 0.28 0.48% |
| Symbol | Bitwise |
The market value of Bitwise Funds Trust is measured differently than its book value, which is the value of Bitwise that is recorded on the company's balance sheet. Investors also form their own opinion of Bitwise Funds' value that differs from its market value or its book value, called intrinsic value, which is Bitwise Funds' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Bitwise Funds' market value can be influenced by many factors that don't directly affect Bitwise Funds' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Bitwise Funds' value and its price as these two are different measures arrived at by different means. Investors typically determine if Bitwise Funds is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Bitwise Funds' 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.
Bitwise Funds '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 Bitwise Funds' 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 Bitwise Funds.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Bitwise Funds on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Bitwise Funds Trust or generate 0.0% return on investment in Bitwise Funds over 720 days. Bitwise Funds is related to or competes with ProShares Trust, IShares Ethereum, Volatility Shares, VanEck Ethereum, Bitwise Ethereum, and Franklin Bitcoin. Recall Studios, Inc. operates in augmented reality and virtual reality markets More
Bitwise Funds 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 Bitwise Funds' 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 Bitwise Funds Trust upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.57 | |||
| Information Ratio | 0.1348 | |||
| Maximum Drawdown | 15.83 | |||
| Value At Risk | (3.71) | |||
| Potential Upside | 6.36 |
Bitwise Funds Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bitwise Funds' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bitwise Funds' standard deviation. In reality, there are many statistical measures that can use Bitwise Funds historical prices to predict the future Bitwise Funds' volatility.| Risk Adjusted Performance | 0.1402 | |||
| Jensen Alpha | 0.2642 | |||
| Total Risk Alpha | 0.0424 | |||
| Sortino Ratio | 0.1814 | |||
| Treynor Ratio | 0.2197 |
Bitwise Funds Trust Backtested Returns
Bitwise Funds appears to be very steady, given 3 months investment horizon. Bitwise Funds Trust secures Sharpe Ratio (or Efficiency) of 0.16, which signifies that the etf had a 0.16% return per unit of risk over the last 3 months. By analyzing Bitwise Funds' technical indicators, you can evaluate if the expected return of 0.54% is justified by implied risk. Please makes use of Bitwise Funds' Risk Adjusted Performance of 0.1402, downside deviation of 2.57, and Mean Deviation of 2.55 to double-check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 2.67, which signifies 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, Bitwise Funds will likely underperform.
Auto-correlation | 0.21 |
Weak predictability
Bitwise Funds Trust has weak predictability. Overlapping area represents the amount of predictability between Bitwise Funds time series from 5th of December 2022 to 30th of November 2023 and 30th of November 2023 to 24th 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 Bitwise Funds Trust price movement. The serial correlation of 0.21 indicates that over 21.0% of current Bitwise Funds price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.21 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 2.03 |
Bitwise Funds Trust lagged returns against current returns
Autocorrelation, which is Bitwise Funds 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 Bitwise Funds' etf expected returns. We can calculate the autocorrelation of Bitwise Funds returns to help us make a trade decision. For example, suppose you find that Bitwise Funds 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 |
Bitwise Funds 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 Bitwise Funds etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bitwise Funds etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bitwise Funds etf over time.
Current vs Lagged Prices |
| Timeline |
Bitwise Funds Lagged Returns
When evaluating Bitwise Funds' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bitwise Funds etf have on its future price. Bitwise Funds 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, Bitwise Funds autocorrelation shows the relationship between Bitwise Funds etf current value and its past values and can show if there is a momentum factor associated with investing in Bitwise Funds Trust.
Regressed Prices |
| Timeline |
Pair Trading with Bitwise Funds
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 Bitwise Funds 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 Bitwise Funds will appreciate offsetting losses from the drop in the long position's value.Moving together with Bitwise Etf
| 0.99 | GBTC | Grayscale Bitcoin Trust | PairCorr |
| 0.99 | BITO | ProShares Bitcoin Aggressive Push | PairCorr |
| 0.95 | BLOK | Amplify Transformational | PairCorr |
| 0.93 | BLCN | Siren Nasdaq NexGen | PairCorr |
Moving against Bitwise Etf
| 0.56 | VXX | iPath Series B | PairCorr |
| 0.45 | LUX | Tema ETF Trust | PairCorr |
| 0.37 | INTL | Main International ETF | PairCorr |
The ability to find closely correlated positions to Bitwise Funds could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bitwise Funds 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 Bitwise Funds - 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 Bitwise Funds Trust to buy it.
The correlation of Bitwise Funds 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 Bitwise Funds moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bitwise Funds Trust 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 Bitwise Funds 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.Check out Bitwise Funds Correlation, Bitwise Funds Volatility and Bitwise Funds Alpha and Beta module to complement your research on Bitwise Funds. You can also try the Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Bitwise Funds technical etf 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, etf market cycles, or different charting patterns.