8x8 Common Stock Stock Market Value
| EGHT Stock | USD 2.27 0.05 2.16% |
| Symbol | 8x8 |
8x8 Common Stock Price To Book Ratio
Is 8x8 Common's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of 8x8 Common. If investors know 8x8 will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about 8x8 Common listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.45) | Revenue Per Share 6.179 | Quarterly Revenue Growth 0.174 | Return On Assets (0) | Return On Equity (0.54) |
The market value of 8x8 Common Stock is measured differently than its book value, which is the value of 8x8 that is recorded on the company's balance sheet. Investors also form their own opinion of 8x8 Common's value that differs from its market value or its book value, called intrinsic value, which is 8x8 Common's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because 8x8 Common's market value can be influenced by many factors that don't directly affect 8x8 Common's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between 8x8 Common's value and its price as these two are different measures arrived at by different means. Investors typically determine if 8x8 Common is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, 8x8 Common's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
8x8 Common '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 8x8 Common'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 8x8 Common.
| 02/26/2024 |
| 04/26/2024 |
If you would invest 0.00 in 8x8 Common on February 26, 2024 and sell it all today you would earn a total of 0.00 from holding 8x8 Common Stock or generate 0.0% return on investment in 8x8 Common over 60 days. 8x8 Common is related to or competes with Workday, Digital Turbine, Bill, Autodesk, Smartsheet, Kingsoft Cloud, and Sprout Social. 8x8, Inc. provides voice, video, chat, contact center, and enterprise-class application programmable interface Software-... More
8x8 Common 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 8x8 Common'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 8x8 Common Stock upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 23.59 | |||
| Value At Risk | (8.74) | |||
| Potential Upside | 4.81 |
8x8 Common Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for 8x8 Common's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 8x8 Common's standard deviation. In reality, there are many statistical measures that can use 8x8 Common historical prices to predict the future 8x8 Common's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.47) | |||
| Total Risk Alpha | (1.07) | |||
| Treynor Ratio | 0.7434 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of 8x8 Common'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.
8x8 Common Stock Backtested Returns
8x8 Common Stock retains Efficiency (Sharpe Ratio) of -0.15, which signifies that the company had a -0.15% return per unit of price deviation over the last 3 months. 8x8 Common exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm 8x8 Common's Information Ratio of (0.14), market risk adjusted performance of 0.7534, and Variance of 18.3 to double-check the risk estimate we provide. The firm owns a Beta (Systematic Risk) of -0.71, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning 8x8 Common are expected to decrease at a much lower rate. During the bear market, 8x8 Common is likely to outperform the market. 8x8 Common Stock has an expected return of -0.64%. Please make sure to confirm 8x8 Common Stock jensen alpha, as well as the relationship between the skewness and day median price , to decide if 8x8 Common Stock performance from the past will be repeated at future time.
Auto-correlation | 0.09 |
Virtually no predictability
8x8 Common Stock has virtually no predictability. Overlapping area represents the amount of predictability between 8x8 Common time series from 26th of February 2024 to 27th of March 2024 and 27th of March 2024 to 26th of April 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 8x8 Common Stock price movement. The serial correlation of 0.09 indicates that less than 9.0% of current 8x8 Common price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.09 | |
| Spearman Rank Test | 0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
8x8 Common Stock lagged returns against current returns
Autocorrelation, which is 8x8 Common 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 8x8 Common's stock expected returns. We can calculate the autocorrelation of 8x8 Common returns to help us make a trade decision. For example, suppose you find that 8x8 Common 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 |
8x8 Common 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 8x8 Common stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 8x8 Common stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 8x8 Common stock over time.
Current vs Lagged Prices |
| Timeline |
8x8 Common Lagged Returns
When evaluating 8x8 Common's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 8x8 Common stock have on its future price. 8x8 Common 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, 8x8 Common autocorrelation shows the relationship between 8x8 Common stock current value and its past values and can show if there is a momentum factor associated with investing in 8x8 Common Stock.
Regressed Prices |
| Timeline |
8x8 Common Investors Sentiment
The influence of 8x8 Common's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in 8x8. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to 8x8 Common's public news can be used to forecast risks associated with an investment in 8x8. The trend in average sentiment can be used to explain how an investor holding 8x8 can time the market purely based on public headlines and social activities around 8x8 Common Stock. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
8x8 Common's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for 8x8 Common's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average 8x8 Common's news discussions. The higher the estimated score, the more favorable is the investor's outlook on 8x8 Common.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards 8x8 Common in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, 8x8 Common's short interest history, or implied volatility extrapolated from 8x8 Common options trading.
Pair Trading with 8x8 Common
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 8x8 Common 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 8x8 Common will appreciate offsetting losses from the drop in the long position's value.Moving together with 8x8 Stock
| 0.63 | U | Unity Software Aggressive Push | PairCorr |
| 0.73 | DT | Dynatrace Holdings LLC Financial Report 15th of May 2024 | PairCorr |
Moving against 8x8 Stock
| 0.78 | DPSI | DecisionPoint Systems Financial Report 20th of May 2024 | PairCorr |
| 0.56 | ML | MoneyLion Financial Report 14th of May 2024 | PairCorr |
| 0.45 | VERX | Vertex Financial Report 8th of May 2024 | PairCorr |
The ability to find closely correlated positions to 8x8 Common could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 8x8 Common 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 8x8 Common - 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 8x8 Common Stock to buy it.
The correlation of 8x8 Common 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 8x8 Common moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 8x8 Common Stock 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 8x8 Common 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 8x8 Common Correlation, 8x8 Common Volatility and 8x8 Common Alpha and Beta module to complement your research on 8x8 Common. Note that the 8x8 Common Stock information on this page should be used as a complementary analysis to other 8x8 Common's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Complementary Tools for 8x8 Stock analysis
When running 8x8 Common's price analysis, check to measure 8x8 Common'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 8x8 Common is operating at the current time. Most of 8x8 Common's value examination focuses on studying past and present price action to predict the probability of 8x8 Common's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move 8x8 Common's price. Additionally, you may evaluate how the addition of 8x8 Common to your portfolios can decrease your overall portfolio volatility.
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges |
8x8 Common 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.