Nova Eye (Australia) Market Value
| EYE Stock | 0.15 0.01 7.14% |
| Symbol | Nova |
Nova Eye '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 Nova Eye'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 Nova Eye.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Nova Eye on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Nova Eye Medical or generate 0.0% return on investment in Nova Eye over 30 days. Nova Eye is related to or competes with FSA, Tamawood, Rea, CSL, Macquarie, Xero, and Pro Medicus. Nova Eye is entity of Australia. It is traded as Stock on AU exchange. More
Nova Eye 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 Nova Eye'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 Nova Eye Medical upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 20.54 | |||
| Value At Risk | (6.67) | |||
| Potential Upside | 6.67 |
Nova Eye Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nova Eye's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nova Eye's standard deviation. In reality, there are many statistical measures that can use Nova Eye historical prices to predict the future Nova Eye's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.68) | |||
| Total Risk Alpha | (1.45) | |||
| Treynor Ratio | 2.43 |
Nova Eye Medical Backtested Returns
Nova Eye Medical has Sharpe Ratio of -0.11, which conveys that the firm had a -0.11% return per unit of risk over the last 3 months. Nova Eye exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nova Eye's Mean Deviation of 3.53, risk adjusted performance of (0.10), and Standard Deviation of 4.75 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.29, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nova Eye are expected to decrease at a much lower rate. During the bear market, Nova Eye is likely to outperform the market. At this point, Nova Eye Medical has a negative expected return of -0.52%. Please make sure to verify Nova Eye's maximum drawdown, skewness, accumulation distribution, as well as the relationship between the potential upside and kurtosis , to decide if Nova Eye Medical performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.12 |
Insignificant predictability
Nova Eye Medical has insignificant predictability. Overlapping area represents the amount of predictability between Nova Eye time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Nova Eye Medical price movement. The serial correlation of 0.12 indicates that less than 12.0% of current Nova Eye price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Nova Eye Medical lagged returns against current returns
Autocorrelation, which is Nova Eye 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 Nova Eye's stock expected returns. We can calculate the autocorrelation of Nova Eye returns to help us make a trade decision. For example, suppose you find that Nova Eye 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 |
Nova Eye 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 Nova Eye stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova Eye stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nova Eye stock over time.
Current vs Lagged Prices |
| Timeline |
Nova Eye Lagged Returns
When evaluating Nova Eye's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nova Eye stock have on its future price. Nova Eye 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, Nova Eye autocorrelation shows the relationship between Nova Eye stock current value and its past values and can show if there is a momentum factor associated with investing in Nova Eye Medical.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Additional Tools for Nova Stock Analysis
When running Nova Eye's price analysis, check to measure Nova Eye'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 Nova Eye is operating at the current time. Most of Nova Eye's value examination focuses on studying past and present price action to predict the probability of Nova Eye's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nova Eye's price. Additionally, you may evaluate how the addition of Nova Eye to your portfolios can decrease your overall portfolio volatility.