Bitmine Immersion Technologies Stock Market Value
| BMNR Stock | USD 0.45 0.13 22.41% |
| Symbol | Bitmine |
Bitmine Immersion '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 Bitmine Immersion'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 Bitmine Immersion.
| 11/16/2024 |
| 12/16/2024 |
If you would invest 0.00 in Bitmine Immersion on November 16, 2024 and sell it all today you would earn a total of 0.00 from holding Bitmine Immersion Technologies or generate 0.0% return on investment in Bitmine Immersion over 30 days. Bitmine Immersion is related to or competes with Mawson Infrastructure, and World Technology. Bitmine Immersion Technologies, Inc. operates as a blockchain technology company in the United States More
Bitmine Immersion 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 Bitmine Immersion'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 Bitmine Immersion Technologies upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 27.3 | |||
| Information Ratio | 0.0958 | |||
| Maximum Drawdown | 94.95 | |||
| Value At Risk | (26.67) | |||
| Potential Upside | 46.15 |
Bitmine Immersion Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bitmine Immersion's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bitmine Immersion's standard deviation. In reality, there are many statistical measures that can use Bitmine Immersion historical prices to predict the future Bitmine Immersion's volatility.| Risk Adjusted Performance | 0.0828 | |||
| Jensen Alpha | 2.36 | |||
| Total Risk Alpha | (0.48) | |||
| Sortino Ratio | 0.0702 | |||
| Treynor Ratio | (0.51) |
Bitmine Immersion Backtested Returns
Bitmine Immersion is out of control given 3 months investment horizon. Bitmine Immersion secures Sharpe Ratio (or Efficiency) of 0.1, which signifies that the company had a 0.1% return per unit of risk 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 2.05% are justified by taking the suggested risk. Use Bitmine Immersion Mean Deviation of 11.5, risk adjusted performance of 0.0828, and Downside Deviation of 27.3 to evaluate company specific risk that cannot be diversified away. Bitmine Immersion holds a performance score of 8 on a scale of zero to a hundred. The firm shows a Beta (market volatility) of -3.91, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Bitmine Immersion are expected to decrease by larger amounts. On the other hand, during market turmoil, Bitmine Immersion is expected to outperform it. Use Bitmine Immersion value at risk, as well as the relationship between the skewness and day median price , to analyze future returns on Bitmine Immersion.
Auto-correlation | 0.04 |
Virtually no predictability
Bitmine Immersion Technologies has virtually no predictability. Overlapping area represents the amount of predictability between Bitmine Immersion time series from 16th of November 2024 to 1st of December 2024 and 1st of December 2024 to 16th 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 Bitmine Immersion price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current Bitmine Immersion price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | -0.33 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Bitmine Immersion lagged returns against current returns
Autocorrelation, which is Bitmine Immersion 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 Bitmine Immersion's pink sheet expected returns. We can calculate the autocorrelation of Bitmine Immersion returns to help us make a trade decision. For example, suppose you find that Bitmine Immersion 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 |
Bitmine Immersion 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 Bitmine Immersion pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bitmine Immersion pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bitmine Immersion pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Bitmine Immersion Lagged Returns
When evaluating Bitmine Immersion's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bitmine Immersion pink sheet have on its future price. Bitmine Immersion 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, Bitmine Immersion autocorrelation shows the relationship between Bitmine Immersion pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Bitmine Immersion Technologies.
Regressed Prices |
| Timeline |
Pair Trading with Bitmine Immersion
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 Bitmine Immersion 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 Bitmine Immersion will appreciate offsetting losses from the drop in the long position's value.Moving against Bitmine Pink Sheet
| 0.82 | HNHPF | Hon Hai Precision | PairCorr |
| 0.49 | AMPH | Amphastar P Downward Rally | PairCorr |
| 0.41 | SLMNP | A Schulman | PairCorr |
| 0.36 | GLW | Corning Incorporated | PairCorr |
| 0.34 | JBL | Jabil Circuit | PairCorr |
The ability to find closely correlated positions to Bitmine Immersion could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bitmine Immersion 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 Bitmine Immersion - 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 Bitmine Immersion Technologies to buy it.
The correlation of Bitmine Immersion 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 Bitmine Immersion moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bitmine Immersion 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 Bitmine Immersion 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 Bitmine Pink Sheet Analysis
When running Bitmine Immersion's price analysis, check to measure Bitmine Immersion'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 Bitmine Immersion is operating at the current time. Most of Bitmine Immersion's value examination focuses on studying past and present price action to predict the probability of Bitmine Immersion's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bitmine Immersion's price. Additionally, you may evaluate how the addition of Bitmine Immersion to your portfolios can decrease your overall portfolio volatility.