Bitfarms Ownership
| BITF Stock | 3.07 0.35 12.87% |
Shares in Circulation | First Issued 2018-03-31 | Previous Quarter 555.8 M | Current Value 556.5 M | Avarage Shares Outstanding 211.9 M | Quarterly Volatility 153.6 M |
Bitfarms |
Bitfarms Stock Ownership Analysis
About 40.0% of the company shares are held by institutions such as insurance companies. The book value of Bitfarms was currently reported as 1.48. The company recorded a loss per share of 0.18. Bitfarms had not issued any dividends in recent years. For more info on Bitfarms please contact Geoffrey Morphy at 647-259-1790 or go to https://www.bitfarms.com.Pair Trading with Bitfarms
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 Bitfarms 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 Bitfarms will appreciate offsetting losses from the drop in the long position's value.Moving together with Bitfarms Stock
Moving against Bitfarms Stock
| 0.78 | HLF | High Liner Foods | PairCorr |
| 0.72 | TOT | Total Energy Services Earnings Call This Week | PairCorr |
| 0.7 | GUG | Gungnir Resources | PairCorr |
| 0.67 | GLD | GoldOn Resources | PairCorr |
| 0.67 | ATX | ATEX Resources | PairCorr |
The ability to find closely correlated positions to Bitfarms could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bitfarms 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 Bitfarms - 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 Bitfarms to buy it.
The correlation of Bitfarms 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 Bitfarms moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bitfarms 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 Bitfarms 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.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bitfarms. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation. To learn how to invest in Bitfarms Stock, please use our How to Invest in Bitfarms guide.You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.