Novanta Competitors
| 1GSN Stock | EUR 158.00 1.00 0.64% |
You can use the Comparative Equity Analysis module to analyze the advantages of investing in your portfolio's related equities across multiple sectors and thematic ideas. Please use the input box below to enter symbols for particular investments you would like to analyze. With the equity comparison module, you can estimate the relative effect of Novanta competition on your existing holdings.
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Novanta Competition Correlation Matrix
Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Correlation between Novanta and its competitors represents the degree of relationship between the price movements of corresponding stocks. A correlation of about +1.0 implies that the price of Novanta and its corresponding peer move in tandem. A correlation of -1.0 means that prices move in opposite directions. A correlation of close to zero suggests that the price movements of assets are uncorrelated; in other words, the historical price movement of Novanta does not affect the price movement of the other competitor.
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High positive correlations
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Risk-Adjusted Indicators
There is a big difference between Novanta Stock performing well and Novanta Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Novanta's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GRU | 3.00 | 1.02 | 0.19 | (1.66) | 3.29 | 7.33 | 19.99 | |||
| M3V | 0.61 | (0.01) | (0.05) | 0.08 | 0.91 | 1.72 | 6.67 | |||
| AP3 | 0.95 | 0.38 | 0.25 | (10.01) | 0.44 | 1.98 | 11.35 | |||
| B3BN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FDU | 2.63 | (0.58) | 0.00 | (0.27) | 0.00 | 5.07 | 29.98 |
Novanta Competitive Analysis
The better you understand Novanta competitors, the better chance you have of utilizing it as a position in your portfolios. From an individual investor's perspective, Novanta's competitive analysis can cover a whole range of metrics. Some of these will be more critical depending on who you are as an investor and how you react to market volatility. However, if you are locking your investment sandscape to a long-term horizon, comparing the fundamental indicator across Novanta's competition over several years is one of the best ways to analyze its investment potential.| Better Than Average | Worse Than Peers | View Performance Chart |
Novanta Competition Performance Charts
Five steps to successful analysis of Novanta Competition
Novanta's competitive analysis is the process of researching and evaluating its competitive landscape. It provides an understanding of the strengths, weaknesses, opportunities, and threats (SWOT) faced by Novanta in relation to its competition. Novanta's competition analysis typically involves several steps, including:- Identifying the key players in the market: This involves identifying the major competitors of Novanta in the market, both direct and indirect, as well as new entrants and disruptive technologies.
- Assessing the strengths and weaknesses of each competitor: This involves evaluating each competitor's strengths and weaknesses in areas such as product offerings, market share, brand recognition, financial performance, and distribution channels.
- Understanding the competitive environment: This involves evaluating the regulatory environment, economic conditions, and other factors that may impact Novanta's competitive landscape.
- Identifying opportunities and threats: This involves using the information gathered during the analysis to identify opportunities and threats to Novanta, and developing a strategy to address them.
- Evaluating the competitive landscape: This involves understanding the competitive dynamics of the market, such as pricing, marketing, and distribution strategies, as well as analyzing the competitive advantage of each competitor.
Complement your Novanta position
In addition to having Novanta in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Did You Try This Idea?
Run Size And Style ETFs Thematic Idea Now
Size And Style ETFs
ETF themes focus on helping investors to gain exposure to a broad range of assets, diversify, and lower overall costs. The Size And Style ETFs theme has 1091 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Size And Style ETFs Theme or any other thematic opportunities.
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Additional Information and Resources on Investing in Novanta Stock
When determining whether Novanta is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Novanta Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Novanta Stock. Highlighted below are key reports to facilitate an investment decision about Novanta Stock:Check out Novanta Correlation with its peers.For more detail on how to invest in Novanta Stock please use our How to Invest in Novanta guide.You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.