Bittium Oyj (Finland) Market Value
| BITTI Stock | EUR 6.96 0.18 2.52% |
| Symbol | Bittium |
Bittium Oyj '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 Bittium Oyj'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 Bittium Oyj.
| 04/27/2024 |
| 05/27/2024 |
If you would invest 0.00 in Bittium Oyj on April 27, 2024 and sell it all today you would earn a total of 0.00 from holding Bittium Oyj or generate 0.0% return on investment in Bittium Oyj over 30 days. Bittium Oyj is related to or competes with Harvia Oyj, Kamux Suomi, Tokmanni Group, and Remedy Entertainment. Bittium Oyj develops communications and connectivity solutions worldwide More
Bittium Oyj 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 Bittium Oyj'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 Bittium Oyj upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.81 | |||
| Information Ratio | 0.2524 | |||
| Maximum Drawdown | 16.46 | |||
| Value At Risk | (2.32) | |||
| Potential Upside | 4.81 |
Bittium Oyj Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bittium Oyj's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bittium Oyj's standard deviation. In reality, there are many statistical measures that can use Bittium Oyj historical prices to predict the future Bittium Oyj's volatility.| Risk Adjusted Performance | 0.1651 | |||
| Jensen Alpha | 0.7252 | |||
| Total Risk Alpha | 0.5597 | |||
| Sortino Ratio | 0.3881 | |||
| Treynor Ratio | 1.73 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Bittium Oyj'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.
Bittium Oyj Backtested Returns
Bittium Oyj appears to be somewhat reliable, given 3 months investment horizon. Bittium Oyj secures Sharpe Ratio (or Efficiency) of 0.27, which signifies that the company had a 0.27% return per unit of risk over the last 3 months. By analyzing Bittium Oyj's technical indicators, you can evaluate if the expected return of 0.7% is justified by implied risk. Please makes use of Bittium Oyj's Downside Deviation of 1.81, risk adjusted performance of 0.1651, and Mean Deviation of 2.0 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Bittium Oyj holds a performance score of 21. The firm shows a Beta (market volatility) of 0.43, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Bittium Oyj's returns are expected to increase less than the market. However, during the bear market, the loss of holding Bittium Oyj is expected to be smaller as well. Please check Bittium Oyj's skewness, and the relationship between the value at risk and day median price , to make a quick decision on whether Bittium Oyj's price patterns will revert.
Auto-correlation | 0.93 |
Excellent predictability
Bittium Oyj has excellent predictability. Overlapping area represents the amount of predictability between Bittium Oyj time series from 27th of April 2024 to 12th of May 2024 and 12th of May 2024 to 27th 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 Bittium Oyj price movement. The serial correlation of 0.93 indicates that approximately 93.0% of current Bittium Oyj price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.93 | |
| Spearman Rank Test | 0.88 | |
| Residual Average | 0.0 | |
| Price Variance | 0.12 |
Bittium Oyj lagged returns against current returns
Autocorrelation, which is Bittium Oyj 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 Bittium Oyj's stock expected returns. We can calculate the autocorrelation of Bittium Oyj returns to help us make a trade decision. For example, suppose you find that Bittium Oyj 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 |
Bittium Oyj 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 Bittium Oyj stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bittium Oyj stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bittium Oyj stock over time.
Current vs Lagged Prices |
| Timeline |
Bittium Oyj Lagged Returns
When evaluating Bittium Oyj's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bittium Oyj stock have on its future price. Bittium Oyj 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, Bittium Oyj autocorrelation shows the relationship between Bittium Oyj stock current value and its past values and can show if there is a momentum factor associated with investing in Bittium Oyj.
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.Check out Bittium Oyj Correlation, Bittium Oyj Volatility and Bittium Oyj Alpha and Beta module to complement your research on Bittium Oyj. You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Complementary Tools for Bittium Stock analysis
When running Bittium Oyj's price analysis, check to measure Bittium Oyj'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 Bittium Oyj is operating at the current time. Most of Bittium Oyj's value examination focuses on studying past and present price action to predict the probability of Bittium Oyj's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bittium Oyj's price. Additionally, you may evaluate how the addition of Bittium Oyj to your portfolios can decrease your overall portfolio volatility.
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Bittium Oyj technical stock 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, stock market cycles, or different charting patterns.