DigiByte Market Value
| DGB Crypto | USD 0.02 0.01 45.61% |
| Symbol | DigiByte |
DigiByte '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 DigiByte'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 DigiByte.
| 06/10/2023 |
| 12/01/2024 |
If you would invest 0.00 in DigiByte on June 10, 2023 and sell it all today you would earn a total of 0.00 from holding DigiByte or generate 0.0% return on investment in DigiByte over 540 days. DigiByte is related to or competes with Staked Ether, EigenLayer, BLZ, Highstreet, Tokocrypto, and DIA. DigiByte is peer-to-peer digital currency powered by the Blockchain technology.
DigiByte 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 DigiByte'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 DigiByte upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.36 | |||
| Information Ratio | 0.1981 | |||
| Maximum Drawdown | 36.27 | |||
| Value At Risk | (8.13) | |||
| Potential Upside | 11.09 |
DigiByte Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for DigiByte's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as DigiByte's standard deviation. In reality, there are many statistical measures that can use DigiByte historical prices to predict the future DigiByte's volatility.| Risk Adjusted Performance | 0.1736 | |||
| Jensen Alpha | 1.59 | |||
| Total Risk Alpha | 0.3771 | |||
| Sortino Ratio | 0.3638 | |||
| Treynor Ratio | 1.74 |
DigiByte Backtested Returns
DigiByte is unusually risky given 3 months investment horizon. DigiByte secures Sharpe Ratio (or Efficiency) of 0.22, which denotes digital coin had a 0.22% return per unit of risk over the last 3 months. We have analyzed thirty different technical indicators, which can help you to evaluate if expected returns of 1.76% are justified by taking the suggested risk. Use DigiByte Coefficient Of Variation of 464.48, mean deviation of 4.3, and Downside Deviation of 4.36 to evaluate coin specific risk that cannot be diversified away. The crypto shows a Beta (market volatility) of 0.98, which means possible diversification benefits within a given portfolio. DigiByte returns are very sensitive to returns on the market. As the market goes up or down, DigiByte is expected to follow.
Auto-correlation | -0.81 |
Excellent reverse predictability
DigiByte has excellent reverse predictability. Overlapping area represents the amount of predictability between DigiByte time series from 10th of June 2023 to 6th of March 2024 and 6th of March 2024 to 1st 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 DigiByte price movement. The serial correlation of -0.81 indicates that around 81.0% of current DigiByte price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.81 | |
| Spearman Rank Test | -0.83 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
DigiByte lagged returns against current returns
Autocorrelation, which is DigiByte 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 DigiByte's crypto coin expected returns. We can calculate the autocorrelation of DigiByte returns to help us make a trade decision. For example, suppose you find that DigiByte 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 |
DigiByte 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 DigiByte crypto coin is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if DigiByte crypto coin is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in DigiByte crypto coin over time.
Current vs Lagged Prices |
| Timeline |
DigiByte Lagged Returns
When evaluating DigiByte's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of DigiByte crypto coin have on its future price. DigiByte 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, DigiByte autocorrelation shows the relationship between DigiByte crypto coin current value and its past values and can show if there is a momentum factor associated with investing in DigiByte.
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 DigiByte offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of DigiByte'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 Digibyte Crypto.Check out DigiByte Correlation, DigiByte Volatility and Investing Opportunities module to complement your research on DigiByte. You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
DigiByte 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.