HUT 8's market value is the price at which a share of HUT 8 trades on a public exchange. It measures the collective expectations of HUT 8 P investors about its performance. HUT 8 is trading at 23.10 as of the 23rd of November 2024. This is a 0.43% down since the beginning of the trading day. The stock's lowest day price was 21.5. With this module, you can estimate the performance of a buy and hold strategy of HUT 8 P and determine expected loss or profit from investing in HUT 8 over a given investment horizon. Check out World Market Map 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 board of governors.
Symbol
HUT
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.
0.00
10/24/2024
No Change 0.00
0.0
In 31 days
11/23/2024
0.00
If you would invest 0.00 in HUT 8 on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding HUT 8 P or generate 0.0% return on investment in HUT 8 over 30 days.
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 P upside and downside potential and time the market with a certain degree of confidence.
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.
HUT 8 is slightly risky given 3 months investment horizon. HUT 8 P holds Efficiency (Sharpe) Ratio of 0.21, which attests that the entity had a 0.21% return per unit of volatility over the last 3 months. We were able to interpolate twenty-nine different technical indicators, which can help you to evaluate if expected returns of 1.29% are justified by taking the suggested risk. Use HUT 8 P risk adjusted performance of 0.1696, and Market Risk Adjusted Performance of (1.16) to evaluate company specific risk that cannot be diversified away. HUT 8 holds a performance score of 16 on a scale of zero to a hundred. The company retains a Market Volatility (i.e., Beta) of -1.11, which attests to a somewhat significant risk relative to the market. As the market becomes more bullish, returns on owning HUT 8 are expected to decrease slowly. On the other hand, during market turmoil, HUT 8 is expected to outperform it slightly. Use HUT 8 P treynor ratio, value at risk, downside variance, as well as the relationship between the maximum drawdown and potential upside , to analyze future returns on HUT 8 P.
Auto-correlation
0.25
Poor predictability
HUT 8 P has poor predictability. Overlapping area represents the amount of predictability between HUT 8 time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 P price movement. The serial correlation of 0.25 indicates that over 25.0% of current HUT 8 price fluctuation can be explain by its past prices.
Correlation Coefficient
0.25
Spearman Rank Test
0.4
Residual Average
0.0
Price Variance
2.44
HUT 8 P 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 P.