NOV (UK) Market Value
| 0K58 Stock | 16.00 0.07 0.44% |
| Symbol | NOV |
NOV '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 NOV'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 NOV.
| 07/20/2023 |
| 12/11/2024 |
If you would invest 0.00 in NOV on July 20, 2023 and sell it all today you would earn a total of 0.00 from holding NOV Inc or generate 0.0% return on investment in NOV over 510 days. NOV is related to or competes with Hilton Food, Grieg Seafood, Edita Food, Bell Food, Telecom Italia, Cellnex Telecom, and Associated British. NOV is entity of United Kingdom. It is traded as Stock on LSE exchange. More
NOV 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 NOV'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 NOV Inc upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (1.35) | |||
| Maximum Drawdown | 0.5047 |
NOV Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NOV's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NOV's standard deviation. In reality, there are many statistical measures that can use NOV historical prices to predict the future NOV's volatility.| Risk Adjusted Performance | 0.048 | |||
| Total Risk Alpha | (0.01) |
NOV Inc Backtested Returns
Currently, NOV Inc is very steady. NOV Inc has Sharpe Ratio of 0.18, which conveys that the firm had a 0.18% return per unit of standard deviation over the last 3 months. We have found eighteen technical indicators for NOV, which you can use to evaluate the volatility of the firm. Please verify NOV's Mean Deviation of 0.0277, coefficient of variation of 571.42, and Risk Adjusted Performance of 0.048 to check out if the risk estimate we provide is consistent with the expected return of 0.0148%. NOV has a performance score of 14 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.0, which conveys not very significant fluctuations relative to the market. the returns on MARKET and NOV are completely uncorrelated. NOV Inc presently secures a risk of 0.083%. Please verify NOV Inc accumulation distribution, rate of daily change, and the relationship between the maximum drawdown and daily balance of power , to decide if NOV Inc will be following its current price movements.
Auto-correlation | 0.89 |
Very good predictability
NOV Inc has very good predictability. Overlapping area represents the amount of predictability between NOV time series from 20th of July 2023 to 31st of March 2024 and 31st of March 2024 to 11th of December 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 NOV Inc price movement. The serial correlation of 0.89 indicates that approximately 89.0% of current NOV price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.89 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
NOV Inc lagged returns against current returns
Autocorrelation, which is NOV 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 NOV's stock expected returns. We can calculate the autocorrelation of NOV returns to help us make a trade decision. For example, suppose you find that NOV 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 |
NOV 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 NOV stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NOV stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NOV stock over time.
Current vs Lagged Prices |
| Timeline |
NOV Lagged Returns
When evaluating NOV's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NOV stock have on its future price. NOV 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, NOV autocorrelation shows the relationship between NOV stock current value and its past values and can show if there is a momentum factor associated with investing in NOV Inc.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for NOV Stock Analysis
When running NOV's price analysis, check to measure NOV'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 NOV is operating at the current time. Most of NOV's value examination focuses on studying past and present price action to predict the probability of NOV's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NOV's price. Additionally, you may evaluate how the addition of NOV to your portfolios can decrease your overall portfolio volatility.