Magic Market Value
| MAGIC Crypto | USD 0.59 0.04 7.27% |
| Symbol | Magic |
Magic '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 Magic'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 Magic.
| 09/01/2024 |
| 11/30/2024 |
If you would invest 0.00 in Magic on September 1, 2024 and sell it all today you would earn a total of 0.00 from holding Magic or generate 0.0% return on investment in Magic over 90 days. Magic is related to or competes with XRP, Solana, Staked Ether, Sui, Toncoin, Worldcoin, and Stellar. Magic is peer-to-peer digital currency powered by the Blockchain technology.
Magic 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 Magic'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 Magic upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.85 | |||
| Information Ratio | 0.1507 | |||
| Maximum Drawdown | 25.4 | |||
| Value At Risk | (5.88) | |||
| Potential Upside | 10.81 |
Magic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Magic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Magic's standard deviation. In reality, there are many statistical measures that can use Magic historical prices to predict the future Magic's volatility.| Risk Adjusted Performance | 0.1435 | |||
| Jensen Alpha | 0.9409 | |||
| Total Risk Alpha | 0.0411 | |||
| Sortino Ratio | 0.1659 | |||
| Treynor Ratio | (14.04) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Magic's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Magic Backtested Returns
Magic is extremely risky given 3 months investment horizon. Magic has Sharpe Ratio of 0.2, which conveys that digital coin had a 0.2% return per unit of risk over the last 3 months. We were able to break down twenty-nine different technical indicators, which can help you to evaluate if expected returns of 1.09% are justified by taking the suggested risk. Use Magic Mean Deviation of 4.29, risk adjusted performance of 0.1435, and Downside Deviation of 4.85 to evaluate coin specific risk that cannot be diversified away. The crypto secures a Beta (Market Risk) of -0.0664, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Magic are expected to decrease at a much lower rate. During the bear market, Magic is likely to outperform the market.
Auto-correlation | -0.17 |
Insignificant reverse predictability
Magic has insignificant reverse predictability. Overlapping area represents the amount of predictability between Magic 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 Magic price movement. The serial correlation of -0.17 indicates that over 17.0% of current Magic price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.17 | |
| Spearman Rank Test | 0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Magic lagged returns against current returns
Autocorrelation, which is Magic 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 Magic's crypto coin expected returns. We can calculate the autocorrelation of Magic returns to help us make a trade decision. For example, suppose you find that Magic 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 |
Magic 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 Magic crypto coin is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Magic crypto coin is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Magic crypto coin over time.
Current vs Lagged Prices |
| Timeline |
Magic Lagged Returns
When evaluating Magic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Magic crypto coin have on its future price. Magic 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, Magic autocorrelation shows the relationship between Magic crypto coin current value and its past values and can show if there is a momentum factor associated with investing in Magic.
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 Magic offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Magic'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 Magic Crypto.Check out Magic Correlation, Magic Volatility and Investing Opportunities module to complement your research on Magic. You can also try the Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Magic 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.