ServiceNow (Brazil) Market Value
| N1OW34 Stock | BRL 123.69 3.30 2.60% |
| Symbol | ServiceNow |
ServiceNow '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 ServiceNow'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 ServiceNow.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in ServiceNow on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding ServiceNow or generate 0.0% return on investment in ServiceNow over 30 days. ServiceNow is related to or competes with Verizon Communications, Broadcom, Fidelity National, Metalurgica Gerdau, and United Rentals. ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and auto... More
ServiceNow 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 ServiceNow'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 ServiceNow upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.66 | |||
| Information Ratio | 0.1959 | |||
| Maximum Drawdown | 8.81 | |||
| Value At Risk | (2.60) | |||
| Potential Upside | 3.58 |
ServiceNow Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ServiceNow's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ServiceNow's standard deviation. In reality, there are many statistical measures that can use ServiceNow historical prices to predict the future ServiceNow's volatility.| Risk Adjusted Performance | 0.2069 | |||
| Jensen Alpha | 0.4361 | |||
| Total Risk Alpha | 0.201 | |||
| Sortino Ratio | 0.2225 | |||
| Treynor Ratio | 1.13 |
ServiceNow Backtested Returns
ServiceNow appears to be very steady, given 3 months investment horizon. ServiceNow owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.23, which indicates the firm had a 0.23% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for ServiceNow, which you can use to evaluate the volatility of the company. Please review ServiceNow's Coefficient Of Variation of 381.35, risk adjusted performance of 0.2069, and Semi Deviation of 1.3 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, ServiceNow holds a performance score of 18. The entity has a beta of 0.43, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, ServiceNow's returns are expected to increase less than the market. However, during the bear market, the loss of holding ServiceNow is expected to be smaller as well. Please check ServiceNow's treynor ratio, downside variance, kurtosis, as well as the relationship between the value at risk and expected short fall , to make a quick decision on whether ServiceNow's existing price patterns will revert.
Auto-correlation | 0.75 |
Good predictability
ServiceNow has good predictability. Overlapping area represents the amount of predictability between ServiceNow time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 ServiceNow price movement. The serial correlation of 0.75 indicates that around 75.0% of current ServiceNow price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.75 | |
| Spearman Rank Test | 0.81 | |
| Residual Average | 0.0 | |
| Price Variance | 7.72 |
ServiceNow lagged returns against current returns
Autocorrelation, which is ServiceNow 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 ServiceNow's stock expected returns. We can calculate the autocorrelation of ServiceNow returns to help us make a trade decision. For example, suppose you find that ServiceNow 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 |
ServiceNow 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 ServiceNow stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ServiceNow stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ServiceNow stock over time.
Current vs Lagged Prices |
| Timeline |
ServiceNow Lagged Returns
When evaluating ServiceNow's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ServiceNow stock have on its future price. ServiceNow 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, ServiceNow autocorrelation shows the relationship between ServiceNow stock current value and its past values and can show if there is a momentum factor associated with investing in ServiceNow.
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 Information and Resources on Investing in ServiceNow Stock
When determining whether ServiceNow is a strong investment it is important to analyze ServiceNow's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact ServiceNow's future performance. For an informed investment choice regarding ServiceNow Stock, refer to the following important reports:Check out ServiceNow Correlation, ServiceNow Volatility and ServiceNow Alpha and Beta module to complement your research on ServiceNow. For information on how to trade ServiceNow Stock refer to our How to Trade ServiceNow Stock guide.You can also try the FinTech Suite module to use AI to screen and filter profitable investment opportunities.
ServiceNow 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.