Hut 8 Mining Stock Z Score
| HUT Stock | CAD 39.64 1.24 3.23% |
Hut | Z Score |
Hut 8 Mining Company Z Score Analysis
Hut 8's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
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Hut Z Score Driver Correlations
Understanding the fundamental principles of building solid financial models for Hut 8 is extremely important. It helps to project a fair market value of Hut Stock properly, considering its historical fundamentals such as Z Score. Since Hut 8's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Hut 8's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Hut 8's interrelated accounts and indicators.
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To calculate a Z-Score, one would need to know a company's current working capital, its total assets and liabilities, and the amount of its latest earnings as well as earnings before interest and tax. Z-Scores can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area,' with scores of less than 1 indicating the highest probability of distress. Z Score is a used widely measure by financial auditors, accountants, money managers, loan processors, wealth advisers, and day traders. In the last 25 years, many financial models that utilize z-scores proved it to be successful as a predictor of corporate bankruptcy.
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According to the company's disclosures, Hut 8 Mining has a Z Score of 0.0. This is 100.0% lower than that of the AlphaPro Management Inc sector and 100.0% lower than that of the Canadian Equity industry. The z score for all Canada stocks is 100.0% higher than that of the company.
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Fund Asset Allocation for Hut 8
The fund consists of 94.24% investments in stocks, with the rest of investments allocated between various types of exotic instruments.Asset allocation divides Hut 8's investment portfolio among different asset categories to balance risk and reward by investing in a diversified mix of instruments that align with the investor's goals, risk tolerance, and time horizon. Mutual funds, which pool money from multiple investors to buy a diversified portfolio of securities, use asset allocation strategies to manage the risk and return of their portfolios.
Mutual funds allocate their assets by investing in a diversified portfolio of securities, such as stocks, bonds, cryptocurrencies and cash. The specific mix of these securities is determined by the fund's investment objective and strategy. For example, a stock mutual fund may invest primarily in equities, while a bond mutual fund may invest mainly in fixed-income securities. The fund's manager, responsible for making investment decisions, will buy and sell securities in the fund's portfolio as market conditions and the fund's objectives change.
Hut Fundamentals
| Return On Equity | -1.14 | ||||
| Return On Asset | -0.0323 | ||||
| Profit Margin | 0.93 % | ||||
| Operating Margin | (0.05) % | ||||
| Current Valuation | 4.05 B | ||||
| Shares Outstanding | 93.58 M | ||||
| Shares Owned By Insiders | 58.66 % | ||||
| Shares Owned By Institutions | 60.60 % | ||||
| Number Of Shares Shorted | 1.05 M | ||||
| Price To Earning | 7.90 X | ||||
| Price To Book | 3.76 X | ||||
| Price To Sales | 19.29 X | ||||
| Revenue | 81.8 M | ||||
| Gross Profit | (24.97 M) | ||||
| EBITDA | 1.36 M | ||||
| Net Income | 8.38 M | ||||
| Cash And Equivalents | 60.13 M | ||||
| Cash Per Share | 0.31 X | ||||
| Total Debt | 268.75 M | ||||
| Debt To Equity | 0.1 % | ||||
| Current Ratio | 10.61 X | ||||
| Book Value Per Share | 5.48 X | ||||
| Cash Flow From Operations | (26.48 M) | ||||
| Short Ratio | 0.53 X | ||||
| Earnings Per Share | (1.10) X | ||||
| Target Price | 14.79 | ||||
| Number Of Employees | 219 | ||||
| Beta | 3.45 | ||||
| Market Capitalization | 3.74 B | ||||
| Total Asset | 976.87 M | ||||
| Retained Earnings | (132.19 M) | ||||
| Working Capital | 9.03 M | ||||
| Year To Date Return | (4.62) % | ||||
| One Year Return | 5.29 % | ||||
| Three Year Return | 7.20 % | ||||
| Net Asset | 976.87 M | ||||
| Holdings Turnover | 19.02 % | ||||
| Equity Positions Weight | 94.24 % |
About Hut 8 Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Hut 8 Mining's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Hut 8 using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Hut 8 Mining based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
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
| 0.73 | GOOG | Alphabet CDR | PairCorr |
| 0.74 | NVDA | NVIDIA CDR | PairCorr |
| 0.93 | TSLA | Tesla Inc CDR | PairCorr |
| 0.71 | INTC | INTEL CDR | PairCorr |
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.