Driveitaway Stock Market Value
| DWAY Stock | USD 0.03 0 3.67% |
| Symbol | DriveItAway |
DriveItAway '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 DriveItAway's pink sheet 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 DriveItAway.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in DriveItAway on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding DriveItAway or generate 0.0% return on investment in DriveItAway over 30 days. DriveItAway is related to or competes with McGrath RentCorp, Custom Truck, Herc Holdings, Alta Equipment, Multi Ways, FlexShopper, and Hertz Global. DriveItAway Inc. develops and offers a cloud platformconsumer application that enables dealers to sell vehicles through ... More
DriveItAway 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 DriveItAway's pink sheet 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 DriveItAway upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 117.92 | |||
| Value At Risk | (25.42) | |||
| Potential Upside | 11.36 |
DriveItAway Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for DriveItAway's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as DriveItAway's standard deviation. In reality, there are many statistical measures that can use DriveItAway historical prices to predict the future DriveItAway's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (1.22) | |||
| Total Risk Alpha | (3.07) | |||
| Treynor Ratio | (0.23) |
DriveItAway Backtested Returns
DriveItAway secures Sharpe Ratio (or Efficiency) of -0.0229, which denotes the company had a -0.0229% return per unit of risk over the last 3 months. DriveItAway exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm DriveItAway's Standard Deviation of 14.97, variance of 224.01, and Mean Deviation of 5.66 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 3.54, which means 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, DriveItAway will likely underperform. At this point, DriveItAway has a negative expected return of -0.34%. Please make sure to confirm DriveItAway's coefficient of variation, treynor ratio, as well as the relationship between the Treynor Ratio and day median price , to decide if DriveItAway performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.39 |
Below average predictability
DriveItAway has below average predictability. Overlapping area represents the amount of predictability between DriveItAway time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 DriveItAway price movement. The serial correlation of 0.39 indicates that just about 39.0% of current DriveItAway price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.39 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
DriveItAway lagged returns against current returns
Autocorrelation, which is DriveItAway pink sheet'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 DriveItAway's pink sheet expected returns. We can calculate the autocorrelation of DriveItAway returns to help us make a trade decision. For example, suppose you find that DriveItAway has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
DriveItAway 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 DriveItAway pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if DriveItAway pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in DriveItAway pink sheet over time.
Current vs Lagged Prices |
| Timeline |
DriveItAway Lagged Returns
When evaluating DriveItAway's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of DriveItAway pink sheet have on its future price. DriveItAway 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, DriveItAway autocorrelation shows the relationship between DriveItAway pink sheet current value and its past values and can show if there is a momentum factor associated with investing in DriveItAway.
Regressed Prices |
| Timeline |
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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.Additional Tools for DriveItAway Pink Sheet Analysis
When running DriveItAway's price analysis, check to measure DriveItAway'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 DriveItAway is operating at the current time. Most of DriveItAway's value examination focuses on studying past and present price action to predict the probability of DriveItAway's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move DriveItAway's price. Additionally, you may evaluate how the addition of DriveItAway to your portfolios can decrease your overall portfolio volatility.