CVNT Market Value
| CVNT Crypto | USD 0.13 0.01 8.33% |
| Symbol | CVNT |
CVNT '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 CVNT'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 CVNT.
| 03/10/2024 |
| 05/09/2024 |
If you would invest 0.00 in CVNT on March 10, 2024 and sell it all today you would earn a total of 0.00 from holding CVNT or generate 0.0% return on investment in CVNT over 60 days. CVNT is related to or competes with Solana, XRP, Open Network, Staked Ether, Avalanche, Chainlink, and Ethena. CVNT is peer-to-peer digital currency powered by the Blockchain technology.
CVNT 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 CVNT'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 CVNT upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 7.42 | |||
| Information Ratio | 0.1179 | |||
| Maximum Drawdown | 23.08 | |||
| Value At Risk | (7.14) | |||
| Potential Upside | 8.33 |
CVNT Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CVNT's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CVNT's standard deviation. In reality, there are many statistical measures that can use CVNT historical prices to predict the future CVNT's volatility.| Risk Adjusted Performance | 0.0936 | |||
| Jensen Alpha | 0.5118 | |||
| Total Risk Alpha | 0.0428 | |||
| Sortino Ratio | 0.0718 | |||
| Treynor Ratio | 0.4808 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of CVNT'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.
CVNT Backtested Returns
CVNT appears to be very risky, given 3 months investment horizon. CVNT secures Sharpe Ratio (or Efficiency) of 0.11, which signifies that digital coin had a 0.11% return per unit of risk over the last 3 months. By analyzing CVNT's technical indicators, you can evaluate if the expected return of 0.52% is justified by implied risk. Please makes use of CVNT's risk adjusted performance of 0.0936, and Mean Deviation of 2.87 to double-check if our risk estimates are consistent with your expectations. The crypto shows a Beta (market volatility) of 1.27, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, CVNT will likely underperform.
Auto-correlation | 0.20 |
Weak predictability
CVNT has weak predictability. Overlapping area represents the amount of predictability between CVNT time series from 10th of March 2024 to 9th of April 2024 and 9th of April 2024 to 9th of May 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 CVNT price movement. The serial correlation of 0.2 indicates that over 20.0% of current CVNT price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | 0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
CVNT lagged returns against current returns
Autocorrelation, which is CVNT 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 CVNT's crypto coin expected returns. We can calculate the autocorrelation of CVNT returns to help us make a trade decision. For example, suppose you find that CVNT 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 |
CVNT 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 CVNT crypto coin is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CVNT crypto coin is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CVNT crypto coin over time.
Current vs Lagged Prices |
| Timeline |
CVNT Lagged Returns
When evaluating CVNT's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CVNT crypto coin have on its future price. CVNT 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, CVNT autocorrelation shows the relationship between CVNT crypto coin current value and its past values and can show if there is a momentum factor associated with investing in CVNT.
Regressed Prices |
| Timeline |
Pair Trading with CVNT
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 CVNT 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 CVNT will appreciate offsetting losses from the drop in the long position's value.Moving together with CVNT Crypto Coin
| 0.83 | SOL | Solana | PairCorr |
| 0.62 | XRP | XRP | PairCorr |
| 0.62 | TONCOIN | Open Network | PairCorr |
Moving against CVNT Crypto Coin
| 0.48 | TIA | Celestia | PairCorr |
The ability to find closely correlated positions to CVNT could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CVNT 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 CVNT - 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 CVNT to buy it.
The correlation of CVNT 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 CVNT moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CVNT 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 CVNT 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.Check out CVNT Correlation, CVNT Volatility and Investing Opportunities module to complement your research on CVNT. You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
CVNT 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.