Bittium Oyj (Finland) Statistic Functions Pearson Correlation Coefficient
| BITTI Stock | EUR 6.08 0.14 2.36% |
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The output start index for this execution was twenty-three with a total number of output elements of thirty-eight. The Pearsons Correlation Coefficient is one of the most common measures of correlation in financial statistics. It shows the linear relationship between price series of Bittium Oyj and its benchmark or peer.
Bittium Oyj Technical Analysis Modules
Most technical analysis of Bittium Oyj help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Bittium from various momentum indicators to cycle indicators. When you analyze Bittium charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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About Bittium Oyj Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Bittium Oyj. We use our internally-developed statistical techniques to arrive at the intrinsic value of Bittium Oyj based on widely used predictive technical indicators. In general, we focus on analyzing Bittium Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Bittium Oyj's daily price indicators and compare them against related drivers, such as statistic functions and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of Bittium Oyj's intrinsic value. In addition to deriving basic predictive indicators for Bittium Oyj, we also check how macroeconomic factors affect Bittium Oyj price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
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.
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Bittium Oyj pair trading
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 Bittium Oyj 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 Bittium Oyj will appreciate offsetting losses from the drop in the long position's value.Bittium Oyj Pair Trading
Bittium Oyj Pair Trading Analysis
The ability to find closely correlated positions to Bittium Oyj could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bittium Oyj 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 Bittium Oyj - 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 Bittium Oyj to buy it.
The correlation of Bittium Oyj 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 Bittium Oyj moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bittium Oyj 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 Bittium Oyj 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Bittium Oyj. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. You can also try the Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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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