Bank Of Nova Stock Market Value
| BNS Stock | CAD 78.50 0.21 0.27% |
| Symbol | Bank |
Bank of Nova Scotia Price To Book Ratio
Bank of Nova Scotia '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 Bank of Nova Scotia'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 Bank of Nova Scotia.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Bank of Nova Scotia on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Bank of Nova or generate 0.0% return on investment in Bank of Nova Scotia over 30 days. Bank of Nova Scotia is related to or competes with Walmart, Amazon CDR, UPS CDR, HOME DEPOT, UnitedHealth Group, Costco Wholesale, and JPMorgan Chase. The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile... More
Bank of Nova Scotia 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 Bank of Nova Scotia'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 Bank of Nova upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.683 | |||
| Information Ratio | 0.2492 | |||
| Maximum Drawdown | 4.38 | |||
| Value At Risk | (0.96) | |||
| Potential Upside | 1.79 |
Bank of Nova Scotia Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bank of Nova Scotia's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bank of Nova Scotia's standard deviation. In reality, there are many statistical measures that can use Bank of Nova Scotia historical prices to predict the future Bank of Nova Scotia's volatility.| Risk Adjusted Performance | 0.2909 | |||
| Jensen Alpha | 0.3099 | |||
| Total Risk Alpha | 0.1988 | |||
| Sortino Ratio | 0.3051 | |||
| Treynor Ratio | (14.66) |
Bank of Nova Scotia Backtested Returns
Bank of Nova Scotia appears to be very steady, given 3 months investment horizon. Bank of Nova Scotia secures Sharpe Ratio (or Efficiency) of 0.37, which signifies that the company had a 0.37% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Bank of Nova, which you can use to evaluate the volatility of the firm. Please makes use of Bank of Nova Scotia's Coefficient Of Variation of 263.04, risk adjusted performance of 0.2909, and Mean Deviation of 0.6675 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Bank of Nova Scotia holds a performance score of 29. The firm shows a Beta (market volatility) of -0.021, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Bank of Nova Scotia are expected to decrease at a much lower rate. During the bear market, Bank of Nova Scotia is likely to outperform the market. Please check Bank of Nova Scotia's treynor ratio, kurtosis, period momentum indicator, as well as the relationship between the downside variance and day median price , to make a quick decision on whether Bank of Nova Scotia's price patterns will revert.
Auto-correlation | 0.78 |
Good predictability
Bank of Nova has good predictability. Overlapping area represents the amount of predictability between Bank of Nova Scotia time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd of November 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 Bank of Nova Scotia price movement. The serial correlation of 0.78 indicates that around 78.0% of current Bank of Nova Scotia price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.78 | |
| Spearman Rank Test | 0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 2.31 |
Bank of Nova Scotia lagged returns against current returns
Autocorrelation, which is Bank of Nova Scotia 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 Bank of Nova Scotia's stock expected returns. We can calculate the autocorrelation of Bank of Nova Scotia returns to help us make a trade decision. For example, suppose you find that Bank of Nova Scotia 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 |
Bank of Nova Scotia 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 Bank of Nova Scotia stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bank of Nova Scotia stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bank of Nova Scotia stock over time.
Current vs Lagged Prices |
| Timeline |
Bank of Nova Scotia Lagged Returns
When evaluating Bank of Nova Scotia's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bank of Nova Scotia stock have on its future price. Bank of Nova Scotia 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, Bank of Nova Scotia autocorrelation shows the relationship between Bank of Nova Scotia stock current value and its past values and can show if there is a momentum factor associated with investing in Bank of Nova.
Regressed Prices |
| Timeline |
Pair Trading with Bank of Nova Scotia
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 Bank of Nova Scotia 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 Bank of Nova Scotia will appreciate offsetting losses from the drop in the long position's value.Moving together with Bank Stock
The ability to find closely correlated positions to Bank of Nova Scotia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of Nova Scotia 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 Bank of Nova Scotia - 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 Bank of Nova to buy it.
The correlation of Bank of Nova Scotia 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 Bank of Nova Scotia moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bank of Nova Scotia 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 Bank of Nova Scotia 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.Check out Bank of Nova Scotia Correlation, Bank of Nova Scotia Volatility and Bank of Nova Scotia Alpha and Beta module to complement your research on Bank of Nova Scotia. You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Bank of Nova Scotia technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.