Cardano Market Value
| ADA Crypto | USD 1.08 0.05 4.85% |
| Symbol | Cardano |
Cardano '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 Cardano's crypto coin 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 Cardano.
| 09/01/2024 |
| 11/30/2024 |
If you would invest 0.00 in Cardano on September 1, 2024 and sell it all today you would earn a total of 0.00 from holding Cardano or generate 0.0% return on investment in Cardano over 90 days. Cardano is related to or competes with Staked Ether, Cronos, Wrapped Bitcoin, XMR, Tether, Chainlink, and USD Coin. Cardano is peer-to-peer digital currency powered by the Blockchain technology.
Cardano 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 Cardano's crypto coin 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 Cardano upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.13 | |||
| Information Ratio | 0.2775 | |||
| Maximum Drawdown | 34.67 | |||
| Value At Risk | (6.06) | |||
| Potential Upside | 13.89 |
Cardano Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cardano's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cardano's standard deviation. In reality, there are many statistical measures that can use Cardano historical prices to predict the future Cardano's volatility.| Risk Adjusted Performance | 0.2373 | |||
| Jensen Alpha | 1.83 | |||
| Total Risk Alpha | 0.8348 | |||
| Sortino Ratio | 0.2898 | |||
| Treynor Ratio | 3.19 |
Cardano Backtested Returns
Cardano is unusually volatile given 3 months investment horizon. Cardano secures Sharpe Ratio (or Efficiency) of 0.33, which signifies that digital coin had a 0.33% return per unit of risk over the last 3 months. We were able to analyze twenty-nine different technical indicators, which can help you to evaluate if expected returns of 2.07% are justified by taking the suggested risk. Use Cardano Downside Deviation of 6.13, mean deviation of 4.47, and Risk Adjusted Performance of 0.2373 to evaluate coin specific risk that cannot be diversified away. The crypto shows a Beta (market volatility) of 0.6, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Cardano's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cardano is expected to be smaller as well.
Auto-correlation | 0.03 |
Virtually no predictability
Cardano has virtually no predictability. Overlapping area represents the amount of predictability between Cardano time series from 1st of September 2024 to 16th of October 2024 and 16th of October 2024 to 30th 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 Cardano price movement. The serial correlation of 0.03 indicates that only 3.0% of current Cardano price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.03 | |
| Spearman Rank Test | 0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Cardano lagged returns against current returns
Autocorrelation, which is Cardano crypto coin'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 Cardano's crypto coin expected returns. We can calculate the autocorrelation of Cardano returns to help us make a trade decision. For example, suppose you find that Cardano has exhibited high autocorrelation historically, and you observe that the crypto coin 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 |
Cardano 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 Cardano crypto coin is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cardano crypto coin is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cardano crypto coin over time.
Current vs Lagged Prices |
| Timeline |
Cardano Lagged Returns
When evaluating Cardano's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cardano crypto coin have on its future price. Cardano 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, Cardano autocorrelation shows the relationship between Cardano crypto coin current value and its past values and can show if there is a momentum factor associated with investing in Cardano.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether Cardano offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Cardano's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Cardano Crypto.Check out Cardano Correlation, Cardano Volatility and Investing Opportunities module to complement your research on Cardano. You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Cardano technical crypto coin analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, crypto market cycles, or different charting patterns.