Nanoxplore Stock Market Value
| GRA Stock | 2.25 0.02 0.88% |
| Symbol | NanoXplore |
NanoXplore Price To Book Ratio
NanoXplore '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 NanoXplore'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 NanoXplore.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in NanoXplore on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding NanoXplore or generate 0.0% return on investment in NanoXplore over 30 days. NanoXplore is related to or competes with Graphene Manufacturing, Nano One, Coveo Solutions, ZEN Graphene, and Lion Electric. NanoXplore is entity of Canada. It is traded as Stock on TO exchange. More
NanoXplore 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 NanoXplore'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 NanoXplore upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.53 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 15.03 | |||
| Value At Risk | (4.29) | |||
| Potential Upside | 5.62 |
NanoXplore Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NanoXplore's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NanoXplore's standard deviation. In reality, there are many statistical measures that can use NanoXplore historical prices to predict the future NanoXplore's volatility.| Risk Adjusted Performance | 0.0254 | |||
| Jensen Alpha | 0.0726 | |||
| Total Risk Alpha | (0.39) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.52) |
NanoXplore Backtested Returns
As of now, NanoXplore Stock is risky. NanoXplore has Sharpe Ratio of 0.0314, which conveys that the firm had a 0.0314% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for NanoXplore, which you can use to evaluate the volatility of the firm. Please verify NanoXplore's Mean Deviation of 2.24, downside deviation of 2.53, and Risk Adjusted Performance of 0.0254 to check out if the risk estimate we provide is consistent with the expected return of 0.0912%. NanoXplore has a performance score of 2 on a scale of 0 to 100. The company secures a Beta (Market Risk) of -0.11, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning NanoXplore are expected to decrease at a much lower rate. During the bear market, NanoXplore is likely to outperform the market. NanoXplore right now secures a risk of 2.91%. Please verify NanoXplore total risk alpha, downside variance, daily balance of power, as well as the relationship between the maximum drawdown and skewness , to decide if NanoXplore will be following its current price movements.
Auto-correlation | 0.18 |
Very weak predictability
NanoXplore has very weak predictability. Overlapping area represents the amount of predictability between NanoXplore time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 NanoXplore price movement. The serial correlation of 0.18 indicates that over 18.0% of current NanoXplore price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.18 | |
| Spearman Rank Test | -0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
NanoXplore lagged returns against current returns
Autocorrelation, which is NanoXplore 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 NanoXplore's stock expected returns. We can calculate the autocorrelation of NanoXplore returns to help us make a trade decision. For example, suppose you find that NanoXplore 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 |
NanoXplore 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 NanoXplore stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NanoXplore stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NanoXplore stock over time.
Current vs Lagged Prices |
| Timeline |
NanoXplore Lagged Returns
When evaluating NanoXplore's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NanoXplore stock have on its future price. NanoXplore 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, NanoXplore autocorrelation shows the relationship between NanoXplore stock current value and its past values and can show if there is a momentum factor associated with investing in NanoXplore.
Regressed Prices |
| Timeline |
Pair Trading with NanoXplore
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 NanoXplore 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 NanoXplore will appreciate offsetting losses from the drop in the long position's value.Moving together with NanoXplore Stock
Moving against NanoXplore Stock
The ability to find closely correlated positions to NanoXplore could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NanoXplore 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 NanoXplore - 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 NanoXplore to buy it.
The correlation of NanoXplore 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 NanoXplore moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NanoXplore 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 NanoXplore 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.Other Information on Investing in NanoXplore Stock
NanoXplore financial ratios help investors to determine whether NanoXplore Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in NanoXplore with respect to the benefits of owning NanoXplore security.