Bitmine Immersion Technologies, Stock Beta
| BMNR Stock | USD 31.13 0.55 1.74% |
Fundamental analysis of BitMine Immersion allows traders to better anticipate movements in BitMine Immersion's stock price by examining its financial health and performance throughout various phases of its business cycle.
BitMine | Beta | Build AI portfolio with BitMine Stock |
BitMine Immersion Technologies, Company Beta Analysis
BitMine Immersion's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current BitMine Immersion Beta | 1.39 |
Most of BitMine Immersion's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, BitMine Immersion Technologies, is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
BitMine Beta Driver Correlations
Understanding the fundamental principles of building solid financial models for BitMine Immersion is extremely important. It helps to project a fair market value of BitMine Stock properly, considering its historical fundamentals such as Beta. Since BitMine Immersion's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of BitMine Immersion's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of BitMine Immersion's interrelated accounts and indicators.
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In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, BitMine Immersion Technologies, has a Beta of 1.388. This is 30.94% higher than that of the Capital Markets sector and 27.71% lower than that of the Financials industry. The beta for all United States stocks is notably lower than that of the firm.
BitMine Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses BitMine Immersion's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of BitMine Immersion could also be used in its relative valuation, which is a method of valuing BitMine Immersion by comparing valuation metrics of similar companies.BitMine Immersion is currently under evaluation in beta category among its peers.
BitMine Immersion ESG Sustainability
Some studies have found that companies with high sustainability scores are getting higher valuations than competitors with lower social-engagement activities. While most ESG disclosures are voluntary and do not directly affect the long term financial condition, BitMine Immersion's sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to BitMine Immersion's managers, analysts, and investors.Environmental | Governance | Social |
As the market goes up, the company is expected to outperform it. However, if the market returns are negative, BitMine Immersion will likely underperform.
BitMine Fundamentals
| Return On Equity | -0.95 | ||||
| Return On Asset | -0.15 | ||||
| Profit Margin | (0.65) % | ||||
| Operating Margin | (0.15) % | ||||
| Current Valuation | 3.56 B | ||||
| Shares Outstanding | 112.31 M | ||||
| Shares Owned By Insiders | 9.14 % | ||||
| Number Of Shares Shorted | 1.54 M | ||||
| Price To Book | 1,236 X | ||||
| Price To Sales | 652.54 X | ||||
| Revenue | 3.31 M | ||||
| Gross Profit | 1.03 M | ||||
| EBITDA | (2.1 M) | ||||
| Net Income | (3.29 M) | ||||
| Cash And Equivalents | 499.91 K | ||||
| Cash Per Share | 0.01 X | ||||
| Total Debt | 1.62 M | ||||
| Debt To Equity | 1.66 % | ||||
| Current Ratio | 0.32 X | ||||
| Book Value Per Share | 1.40 X | ||||
| Cash Flow From Operations | (28.75 K) | ||||
| Short Ratio | 0.09 X | ||||
| Earnings Per Share | (3.03) X | ||||
| Target Price | 60.0 | ||||
| Beta | 1.39 | ||||
| Market Capitalization | 3.56 B | ||||
| Total Asset | 7.28 M | ||||
| Retained Earnings | (8.22 M) | ||||
| Working Capital | (1.57 M) | ||||
| Net Asset | 7.28 M |
About BitMine Immersion Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze BitMine Immersion Technologies,'s financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of BitMine Immersion using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of BitMine Immersion Technologies, based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with BitMine Immersion
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 BitMine Immersion 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 BitMine Immersion will appreciate offsetting losses from the drop in the long position's value.Moving together with BitMine Stock
Moving against BitMine Stock
The ability to find closely correlated positions to BitMine Immersion could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BitMine Immersion 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 BitMine Immersion - 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 BitMine Immersion Technologies, to buy it.
The correlation of BitMine Immersion 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 BitMine Immersion moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BitMine Immersion 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 BitMine Immersion 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.Additional Tools for BitMine Stock Analysis
When running BitMine Immersion's price analysis, check to measure BitMine Immersion'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 BitMine Immersion is operating at the current time. Most of BitMine Immersion's value examination focuses on studying past and present price action to predict the probability of BitMine Immersion's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move BitMine Immersion's price. Additionally, you may evaluate how the addition of BitMine Immersion to your portfolios can decrease your overall portfolio volatility.