REN Market Value
| REN Crypto | USD 0.06 0 2.15% |
| Symbol | REN |
REN '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 REN'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 REN.
| 04/07/2024 |
| 05/07/2024 |
If you would invest 0.00 in REN on April 7, 2024 and sell it all today you would earn a total of 0.00 from holding REN or generate 0.0% return on investment in REN over 30 days. REN is related to or competes with Solana, XRP, Staked Ether, Open Network, Avalanche, Chainlink, and Optimism. REN is peer-to-peer digital currency powered by the Blockchain technology.
REN 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 REN'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 REN upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 8.17 | |||
| Information Ratio | 0.0457 | |||
| Maximum Drawdown | 48.78 | |||
| Value At Risk | (11.87) | |||
| Potential Upside | 11.64 |
REN Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for REN's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as REN's standard deviation. In reality, there are many statistical measures that can use REN historical prices to predict the future REN's volatility.| Risk Adjusted Performance | 0.044 | |||
| Jensen Alpha | 0.21 | |||
| Total Risk Alpha | (0.38) | |||
| Sortino Ratio | 0.0424 | |||
| Treynor Ratio | 0.1332 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of REN'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.
REN Backtested Returns
REN appears to be unreasonably risky, given 3 months investment horizon. REN maintains Sharpe Ratio (i.e., Efficiency) of 0.0545, which implies digital coin had a 0.0545% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for REN, which you can use to evaluate the volatility of coin. Please evaluate REN's Semi Deviation of 7.36, market risk adjusted performance of 0.1432, and Risk Adjusted Performance of 0.044 to confirm if our risk estimates are consistent with your expectations. The crypto holds a Beta of 3.09, which implies 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, REN will likely underperform.
Auto-correlation | 0.82 |
Very good predictability
REN has very good predictability. Overlapping area represents the amount of predictability between REN time series from 7th of April 2024 to 22nd of April 2024 and 22nd of April 2024 to 7th 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 REN price movement. The serial correlation of 0.82 indicates that around 82.0% of current REN price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.82 | |
| Spearman Rank Test | 0.7 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
REN lagged returns against current returns
Autocorrelation, which is REN 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 REN's crypto coin expected returns. We can calculate the autocorrelation of REN returns to help us make a trade decision. For example, suppose you find that REN 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 |
REN 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 REN crypto coin is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if REN crypto coin is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in REN crypto coin over time.
Current vs Lagged Prices |
| Timeline |
REN Lagged Returns
When evaluating REN's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of REN crypto coin have on its future price. REN 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, REN autocorrelation shows the relationship between REN crypto coin current value and its past values and can show if there is a momentum factor associated with investing in REN.
Regressed Prices |
| Timeline |
Some cryptocurrency investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. However, unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards REN in the overall investment community. So, suppose investors can accurately measure the crypto's market sentiment. In that case, they can use it for their benefit. For example, some tools provided by cryptocurrency exchanges to gauge market sentiment could be utilized to time the market in a somewhat predictable way.
Currently Active Assets on Macroaxis
When determining whether REN offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of REN'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 Ren Crypto.Check out REN Correlation, REN Volatility and Investing Opportunities module to complement your research on REN. You can also try the Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
REN 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.