Novina Sa Stock Beta
| NOV Stock | 1.11 0.05 4.31% |
Novina SA fundamentals help investors to digest information that contributes to Novina SA's financial success or failures. It also enables traders to predict the movement of Novina Stock. The fundamental analysis module provides a way to measure Novina SA's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Novina SA stock.
Novina |
Novina SA Company Beta Analysis
Novina SA'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.
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.
In accordance with the recently published financial statements, Novina SA has a Beta of 0.0. This indicator is about the same for the average (which is currently at 0.0) sector and about the same as Beta (which currently averages 0.0) industry. This indicator is about the same for all Poland stocks average (which is currently at 0.0).
Novina Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Novina SA'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 Novina SA could also be used in its relative valuation, which is a method of valuing Novina SA by comparing valuation metrics of similar companies.Novina SA is currently under evaluation in beta category among its peers.
About Novina SA Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Novina SA's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Novina SA using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Novina SA 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 Novina SA
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 Novina SA 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 Novina SA will appreciate offsetting losses from the drop in the long position's value.Moving together with Novina Stock
Moving against Novina Stock
| 0.61 | PKN | Polski Koncern Naftowy | PairCorr |
| 0.6 | BNP | BNP Paribas Bank | PairCorr |
| 0.54 | SPL | Santander Bank Polska | PairCorr |
| 0.52 | PZU | Powszechny Zaklad | PairCorr |
| 0.46 | PEO | Bank Polska Kasa | PairCorr |
The ability to find closely correlated positions to Novina SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Novina SA 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 Novina SA - 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 Novina SA to buy it.
The correlation of Novina SA 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 Novina SA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Novina SA 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 Novina SA 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 Novina Stock Analysis
When running Novina SA's price analysis, check to measure Novina SA'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 Novina SA is operating at the current time. Most of Novina SA's value examination focuses on studying past and present price action to predict the probability of Novina SA's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Novina SA's price. Additionally, you may evaluate how the addition of Novina SA to your portfolios can decrease your overall portfolio volatility.