Hyrecar Stock Market Value
HyreCar's market value is the price at which a share of HyreCar trades on a public exchange. It measures the collective expectations of HyreCar investors about its performance. With this module, you can estimate the performance of a buy and hold strategy of HyreCar and determine expected loss or profit from investing in HyreCar over a given investment horizon. Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.
| Symbol | HyreCar |
HyreCar '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 HyreCar'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 HyreCar.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in HyreCar on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding HyreCar or generate 0.0% return on investment in HyreCar over 360 days.
HyreCar 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 HyreCar'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 HyreCar upside and downside potential and time the market with a certain degree of confidence.
HyreCar Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for HyreCar's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as HyreCar's standard deviation. In reality, there are many statistical measures that can use HyreCar historical prices to predict the future HyreCar's volatility.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of HyreCar's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
HyreCar Backtested Returns
HyreCar holds Efficiency (Sharpe) Ratio of -0.13, which attests that the entity had a -0.13% return per unit of risk over the last 3 months. HyreCar exposes zero different technical indicators, which can help you to evaluate volatility embedded in its price movement. The company retains a Market Volatility (i.e., Beta) of 0.0, which attests to not very significant fluctuations relative to the market. the returns on MARKET and HyreCar are completely uncorrelated.
Auto-correlation | -0.13 |
Insignificant reverse predictability
HyreCar has insignificant reverse predictability. Overlapping area represents the amount of predictability between HyreCar time series from 9th of December 2023 to 6th of June 2024 and 6th of June 2024 to 3rd of December 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 HyreCar price movement. The serial correlation of -0.13 indicates that less than 13.0% of current HyreCar price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.13 | |
| Spearman Rank Test | -0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
HyreCar lagged returns against current returns
Autocorrelation, which is HyreCar 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 HyreCar's pink sheet expected returns. We can calculate the autocorrelation of HyreCar returns to help us make a trade decision. For example, suppose you find that HyreCar 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 |
HyreCar 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 HyreCar pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if HyreCar pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in HyreCar pink sheet over time.
Current vs Lagged Prices |
| Timeline |
HyreCar Lagged Returns
When evaluating HyreCar's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of HyreCar pink sheet have on its future price. HyreCar 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, HyreCar autocorrelation shows the relationship between HyreCar pink sheet current value and its past values and can show if there is a momentum factor associated with investing in HyreCar.
Regressed Prices |
| Timeline |
Pair Trading with HyreCar
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 HyreCar 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 HyreCar will appreciate offsetting losses from the drop in the long position's value.Moving against HyreCar Pink Sheet
| 0.88 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.81 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.78 | NVDA | NVIDIA | PairCorr |
| 0.78 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.71 | WMT | Walmart Aggressive Push | PairCorr |
The ability to find closely correlated positions to HyreCar could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HyreCar 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 HyreCar - 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 HyreCar to buy it.
The correlation of HyreCar 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 HyreCar moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if HyreCar 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 HyreCar 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.Additional Tools for HyreCar Pink Sheet Analysis
When running HyreCar's price analysis, check to measure HyreCar'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 HyreCar is operating at the current time. Most of HyreCar's value examination focuses on studying past and present price action to predict the probability of HyreCar's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move HyreCar's price. Additionally, you may evaluate how the addition of HyreCar to your portfolios can decrease your overall portfolio volatility.