Current Drawdown

Current drawdown compares the latest price with the running maximum of the price series to date, expressed as a negative percentage. It shows where the asset stands within its own peak-to-trough cycle at this moment. Where the window is the full history, it is numerically the same as the percent below the all-time high.

Come viene calcolato

(price / running maximum price to date - 1) x 100

Dove può trarre in inganno

The same label is used for two different measurements: computed since inception it equals percent below all-time high, while computed over a trailing window it references a local peak, and providers often do not state which they used. The anchor is a single peak print, so a thin or erroneous high fixes the reading for as long as it stands. Because the running maximum never moves downward, an asset can show an almost unchanged current drawdown across long stretches in which its price moved considerably. For staked assets the price-based drawdown overstates the shortfall of an actual position by the rewards accrued since the peak.

Il confronto con l'equity, e perché non regge

Drawdown from the high-water mark in fund reporting; a fund high-water mark is struck on audited valuations and often carries contractual meaning for fees, whereas this anchor is simply the largest number in a provider's price file.

Come leggere un valore alto o basso

A value near zero means the price is close to its running maximum; a large negative value means it is well beneath it. The figure describes position within a past range and implies nothing about direction from here.