Galaxy Digital Holdings Stock Market Value
| GLXY Stock | CAD 24.12 0.44 1.86% |
| Symbol | Galaxy |
Galaxy Digital Holdings Price To Book Ratio
Galaxy Digital '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 Galaxy Digital'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 Galaxy Digital.
| 01/06/2023 |
| 11/26/2024 |
If you would invest 0.00 in Galaxy Digital on January 6, 2023 and sell it all today you would earn a total of 0.00 from holding Galaxy Digital Holdings or generate 0.0% return on investment in Galaxy Digital over 690 days. Galaxy Digital is related to or competes with Telus Corp, Toronto Dominion, Manulife Financial, Canadian Natural, TC Energy, Athabasca Oil, and Bank of Nova Scotia. Galaxy Digital Holdings Ltd., an asset management firm, operates in the digital asset, cryptocurrency, and blockchain te... More
Galaxy Digital 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 Galaxy Digital'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 Galaxy Digital Holdings upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.33 | |||
| Information Ratio | 0.1172 | |||
| Maximum Drawdown | 36.93 | |||
| Value At Risk | (7.17) | |||
| Potential Upside | 8.18 |
Galaxy Digital Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Galaxy Digital's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Galaxy Digital's standard deviation. In reality, there are many statistical measures that can use Galaxy Digital historical prices to predict the future Galaxy Digital's volatility.| Risk Adjusted Performance | 0.1157 | |||
| Jensen Alpha | 0.4383 | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | 0.1514 | |||
| Treynor Ratio | 0.2732 |
Galaxy Digital Holdings Backtested Returns
Galaxy Digital appears to be somewhat reliable, given 3 months investment horizon. Galaxy Digital Holdings holds Efficiency (Sharpe) Ratio of 0.15, which attests that the entity had a 0.15% return per unit of risk over the last 3 months. By evaluating Galaxy Digital's technical indicators, you can evaluate if the expected return of 0.84% is justified by implied risk. Please utilize Galaxy Digital's Risk Adjusted Performance of 0.1157, downside deviation of 4.33, and Market Risk Adjusted Performance of 0.2832 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Galaxy Digital holds a performance score of 11. The company retains a Market Volatility (i.e., Beta) of 2.84, which attests to 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, Galaxy Digital will likely underperform. Please check Galaxy Digital's standard deviation, treynor ratio, downside variance, as well as the relationship between the total risk alpha and value at risk , to make a quick decision on whether Galaxy Digital's current trending patterns will revert.
Auto-correlation | 0.74 |
Good predictability
Galaxy Digital Holdings has good predictability. Overlapping area represents the amount of predictability between Galaxy Digital time series from 6th of January 2023 to 17th of December 2023 and 17th of December 2023 to 26th 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 Galaxy Digital Holdings price movement. The serial correlation of 0.74 indicates that around 74.0% of current Galaxy Digital price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.74 | |
| Spearman Rank Test | 0.41 | |
| Residual Average | 0.0 | |
| Price Variance | 13.41 |
Galaxy Digital Holdings lagged returns against current returns
Autocorrelation, which is Galaxy Digital 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 Galaxy Digital's stock expected returns. We can calculate the autocorrelation of Galaxy Digital returns to help us make a trade decision. For example, suppose you find that Galaxy Digital 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 |
Galaxy Digital 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 Galaxy Digital stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Galaxy Digital stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Galaxy Digital stock over time.
Current vs Lagged Prices |
| Timeline |
Galaxy Digital Lagged Returns
When evaluating Galaxy Digital's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Galaxy Digital stock have on its future price. Galaxy Digital 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, Galaxy Digital autocorrelation shows the relationship between Galaxy Digital stock current value and its past values and can show if there is a momentum factor associated with investing in Galaxy Digital Holdings.
Regressed Prices |
| Timeline |
Pair Trading with Galaxy Digital
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 Galaxy Digital 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 Galaxy Digital will appreciate offsetting losses from the drop in the long position's value.Moving together with Galaxy Stock
Moving against Galaxy Stock
The ability to find closely correlated positions to Galaxy Digital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Galaxy Digital 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 Galaxy Digital - 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 Galaxy Digital Holdings to buy it.
The correlation of Galaxy Digital 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 Galaxy Digital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Galaxy Digital Holdings 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 Galaxy Digital 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 Galaxy Stock
Galaxy Digital financial ratios help investors to determine whether Galaxy Stock 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 Galaxy with respect to the benefits of owning Galaxy Digital security.