Bytes Technology (South Africa) Market Value
| BYI Stock | 10,440 41.00 0.39% |
| Symbol | Bytes |
Bytes Technology '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 Bytes Technology'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 Bytes Technology.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Bytes Technology on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Bytes Technology or generate 0.0% return on investment in Bytes Technology over 30 days. Bytes Technology is related to or competes with Trematon Capital, Reinet Investments, RCL Foods, and Hosken Consolidated. More
Bytes Technology 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 Bytes Technology'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 Bytes Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 17.61 | |||
| Value At Risk | (3.52) | |||
| Potential Upside | 2.86 |
Bytes Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bytes Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bytes Technology's standard deviation. In reality, there are many statistical measures that can use Bytes Technology historical prices to predict the future Bytes Technology's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.48) | |||
| Treynor Ratio | (0.35) |
Bytes Technology Backtested Returns
Bytes Technology secures Sharpe Ratio (or Efficiency) of -0.0218, which signifies that the company had a -0.0218% return per unit of risk over the last 3 months. Bytes Technology exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Bytes Technology's Risk Adjusted Performance of (0.02), mean deviation of 1.64, and Standard Deviation of 2.37 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.24, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Bytes Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Bytes Technology is expected to be smaller as well. At this point, Bytes Technology has a negative expected return of -0.0523%. Please make sure to confirm Bytes Technology's value at risk, accumulation distribution, day typical price, as well as the relationship between the skewness and rate of daily change , to decide if Bytes Technology performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.45 |
Average predictability
Bytes Technology has average predictability. Overlapping area represents the amount of predictability between Bytes Technology time series from 31st of October 2024 to 15th of November 2024 and 15th of November 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 Bytes Technology price movement. The serial correlation of 0.45 indicates that just about 45.0% of current Bytes Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.45 | |
| Spearman Rank Test | 0.58 | |
| Residual Average | 0.0 | |
| Price Variance | 26.9 K |
Bytes Technology lagged returns against current returns
Autocorrelation, which is Bytes Technology 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 Bytes Technology's stock expected returns. We can calculate the autocorrelation of Bytes Technology returns to help us make a trade decision. For example, suppose you find that Bytes Technology 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 |
Bytes Technology 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 Bytes Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bytes Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bytes Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Bytes Technology Lagged Returns
When evaluating Bytes Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bytes Technology stock have on its future price. Bytes Technology 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, Bytes Technology autocorrelation shows the relationship between Bytes Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Bytes Technology.
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.Other Information on Investing in Bytes Stock
Bytes Technology financial ratios help investors to determine whether Bytes 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 Bytes with respect to the benefits of owning Bytes Technology security.