Hut 8 Mining Stock Market Value
| HUT Stock | CAD 35.26 0.98 2.70% |
| Symbol | Hut |
Hut 8 Mining Price To Book Ratio
Hut 8 '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 Hut 8'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 Hut 8.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Hut 8 on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Hut 8 Mining or generate 0.0% return on investment in Hut 8 over 30 days. Hut 8 is related to or competes with HIVE Blockchain, Dmg Blockchain, Galaxy Digital, and Bitfarms. Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America More
Hut 8 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 Hut 8'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 Hut 8 Mining upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.12 | |||
| Information Ratio | 0.2055 | |||
| Maximum Drawdown | 32.18 | |||
| Value At Risk | (7.48) | |||
| Potential Upside | 11.88 |
Hut 8 Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hut 8's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hut 8's standard deviation. In reality, there are many statistical measures that can use Hut 8 historical prices to predict the future Hut 8's volatility.| Risk Adjusted Performance | 0.1813 | |||
| Jensen Alpha | 1.2 | |||
| Total Risk Alpha | 0.4387 | |||
| Sortino Ratio | 0.2556 | |||
| Treynor Ratio | 0.7332 |
Hut 8 Mining Backtested Returns
Hut 8 is not too volatile given 3 months investment horizon. Hut 8 Mining holds Efficiency (Sharpe) Ratio of 0.27, which attests that the entity had a 0.27% return per unit of risk over the last 3 months. We were able to interpolate and analyze data for twenty-nine different technical indicators, which can help you to evaluate if expected returns of 1.67% are justified by taking the suggested risk. Use Hut 8 Mining Market Risk Adjusted Performance of 0.7432, risk adjusted performance of 0.1813, and Downside Deviation of 5.12 to evaluate company specific risk that cannot be diversified away. Hut 8 holds a performance score of 21 on a scale of zero to a hundred. The company retains a Market Volatility (i.e., Beta) of 1.95, 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, Hut 8 will likely underperform. Use Hut 8 Mining expected short fall, and the relationship between the value at risk and daily balance of power , to analyze future returns on Hut 8 Mining.
Auto-correlation | 0.23 |
Weak predictability
Hut 8 Mining has weak predictability. Overlapping area represents the amount of predictability between Hut 8 time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 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 Hut 8 Mining price movement. The serial correlation of 0.23 indicates that over 23.0% of current Hut 8 price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.23 | |
| Spearman Rank Test | 0.6 | |
| Residual Average | 0.0 | |
| Price Variance | 1.3 |
Hut 8 Mining lagged returns against current returns
Autocorrelation, which is Hut 8 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 Hut 8's stock expected returns. We can calculate the autocorrelation of Hut 8 returns to help us make a trade decision. For example, suppose you find that Hut 8 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 |
Hut 8 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 Hut 8 stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hut 8 stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hut 8 stock over time.
Current vs Lagged Prices |
| Timeline |
Hut 8 Lagged Returns
When evaluating Hut 8's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hut 8 stock have on its future price. Hut 8 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, Hut 8 autocorrelation shows the relationship between Hut 8 stock current value and its past values and can show if there is a momentum factor associated with investing in Hut 8 Mining.
Regressed Prices |
| Timeline |
Pair Trading with Hut 8
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 Hut 8 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 Hut 8 will appreciate offsetting losses from the drop in the long position's value.Moving together with Hut Stock
Moving against Hut Stock
The ability to find closely correlated positions to Hut 8 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hut 8 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 Hut 8 - 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 Hut 8 Mining to buy it.
The correlation of Hut 8 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 Hut 8 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hut 8 Mining 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 Hut 8 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 Hut Stock
Hut 8 financial ratios help investors to determine whether Hut 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 Hut with respect to the benefits of owning Hut 8 security.