0x Market Value
ZRX Crypto | USD 1.07 0.02 1.90% |
Symbol | 0x |
0x '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 0x'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 0x.
01/28/2024 |
| 03/28/2024 |
If you would invest 0.00 in 0x on January 28, 2024 and sell it all today you would earn a total of 0.00 from holding 0x or generate 0.0% return on investment in 0x over 60 days. 0x is related to or competes with Solana, XRP, Staked Ether, Avalanche, Sui, Aptos, and Chainlink. 0x is peer-to-peer digital currency powered by the Blockchain technology.
0x 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 0x'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 0x upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 9.86 | |||
Information Ratio | 0.1844 | |||
Maximum Drawdown | 89.57 | |||
Value At Risk | (12.12) | |||
Potential Upside | 21.82 |
0x Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for 0x's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 0x's standard deviation. In reality, there are many statistical measures that can use 0x historical prices to predict the future 0x's volatility.Risk Adjusted Performance | 0.1185 | |||
Jensen Alpha | 2.49 | |||
Total Risk Alpha | (0.32) | |||
Sortino Ratio | 0.2102 | |||
Treynor Ratio | (0.93) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of 0x'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.
0x Backtested Returns
0x is abnormally risky given 3 months investment horizon. 0x secures Sharpe Ratio (or Efficiency) of 0.2, which signifies that digital coin had a 0.2% return per unit of risk over the last 3 months. We have analyzed and interpolated twenty-nine different technical indicators, which can help you to evaluate if expected returns of 2.27% are justified by taking the suggested risk. Use 0x Risk Adjusted Performance of 0.1185, semi deviation of 6.26, and Mean Deviation of 6.33 to evaluate coin specific risk that cannot be diversified away. The crypto shows a Beta (market volatility) of -2.35, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning 0x are expected to decrease by larger amounts. On the other hand, during market turmoil, 0x is expected to outperform it.
Auto-correlation | 0.60 |
Good predictability
0x has good predictability. Overlapping area represents the amount of predictability between 0x time series from 28th of January 2024 to 27th of February 2024 and 27th of February 2024 to 28th of March 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 0x price movement. The serial correlation of 0.6 indicates that roughly 60.0% of current 0x price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.6 | |
Spearman Rank Test | 0.57 | |
Residual Average | 0.0 | |
Price Variance | 0.11 |
0x lagged returns against current returns
Autocorrelation, which is 0x 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 0x's crypto coin expected returns. We can calculate the autocorrelation of 0x returns to help us make a trade decision. For example, suppose you find that 0x 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 |
0x 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 0x crypto coin is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 0x crypto coin is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 0x crypto coin over time.
Current vs Lagged Prices |
Timeline |
0x Lagged Returns
When evaluating 0x's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 0x crypto coin have on its future price. 0x 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, 0x autocorrelation shows the relationship between 0x crypto coin current value and its past values and can show if there is a momentum factor associated with investing in 0x.
Regressed Prices |
Timeline |
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GOOG | Alphabet Class C | |
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Check out 0x Correlation, 0x Volatility and Investing Opportunities module to complement your research on 0x. You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Complementary Tools for 0x Crypto Coin analysis
When running 0x's price analysis, check to measure 0x's coin volatility and technical momentum indicators. We have many different tools that can be utilized to determine how healthy 0x is operating at the current time. Most of 0x's value examination focuses on studying past and present price actions to predict the probability of 0x's future price movements. You can analyze the coin against its peers and the financial market as a whole to determine factors that move 0x's coin price. Additionally, you may evaluate how adding 0x to your portfolios can decrease your overall portfolio volatility.
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0x 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.