NOVAGOLD RESOURCES (Germany) Market Value
| NGR Stock | EUR 3.18 0.01 0.31% |
| Symbol | NOVAGOLD |
NOVAGOLD RESOURCES '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 NOVAGOLD RESOURCES'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 NOVAGOLD RESOURCES.
| 07/22/2024 |
| 01/18/2025 |
If you would invest 0.00 in NOVAGOLD RESOURCES on July 22, 2024 and sell it all today you would earn a total of 0.00 from holding NOVAGOLD RESOURCES or generate 0.0% return on investment in NOVAGOLD RESOURCES over 180 days. NOVAGOLD RESOURCES is related to or competes with Pembina Pipeline, TERADATA, Northern Data, CAREER EDUCATION, Adtalem Global, DEVRY EDUCATION, and Perdoceo Education. More
NOVAGOLD RESOURCES 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 NOVAGOLD RESOURCES'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 NOVAGOLD RESOURCES upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.13 | |||
| Information Ratio | 0.0165 | |||
| Maximum Drawdown | 15.31 | |||
| Value At Risk | (5.31) | |||
| Potential Upside | 4.23 |
NOVAGOLD RESOURCES Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NOVAGOLD RESOURCES's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NOVAGOLD RESOURCES's standard deviation. In reality, there are many statistical measures that can use NOVAGOLD RESOURCES historical prices to predict the future NOVAGOLD RESOURCES's volatility.| Risk Adjusted Performance | 0.0228 | |||
| Jensen Alpha | 0.0439 | |||
| Total Risk Alpha | 0.054 | |||
| Sortino Ratio | 0.0147 | |||
| Treynor Ratio | 0.0989 |
NOVAGOLD RESOURCES Backtested Returns
NOVAGOLD RESOURCES has Sharpe Ratio of -0.0335, which conveys that the firm had a -0.0335% return per unit of standard deviation over the last 3 months. NOVAGOLD RESOURCES exposes twenty-seven different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify NOVAGOLD RESOURCES's Risk Adjusted Performance of 0.0228, mean deviation of 1.99, and Market Risk Adjusted Performance of 0.1089 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.43, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, NOVAGOLD RESOURCES's returns are expected to increase less than the market. However, during the bear market, the loss of holding NOVAGOLD RESOURCES is expected to be smaller as well. At this point, NOVAGOLD RESOURCES has a negative expected return of -0.0944%. Please make sure to verify NOVAGOLD RESOURCES's treynor ratio, value at risk, downside variance, as well as the relationship between the maximum drawdown and potential upside , to decide if NOVAGOLD RESOURCES performance from the past will be repeated at some future point.
Auto-correlation | 0.19 |
Very weak predictability
NOVAGOLD RESOURCES has very weak predictability. Overlapping area represents the amount of predictability between NOVAGOLD RESOURCES time series from 22nd of July 2024 to 20th of October 2024 and 20th of October 2024 to 18th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of NOVAGOLD RESOURCES price movement. The serial correlation of 0.19 indicates that over 19.0% of current NOVAGOLD RESOURCES price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.19 | |
| Spearman Rank Test | 0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
NOVAGOLD RESOURCES lagged returns against current returns
Autocorrelation, which is NOVAGOLD RESOURCES 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 NOVAGOLD RESOURCES's stock expected returns. We can calculate the autocorrelation of NOVAGOLD RESOURCES returns to help us make a trade decision. For example, suppose you find that NOVAGOLD RESOURCES 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 |
NOVAGOLD RESOURCES 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 NOVAGOLD RESOURCES stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NOVAGOLD RESOURCES stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NOVAGOLD RESOURCES stock over time.
Current vs Lagged Prices |
| Timeline |
NOVAGOLD RESOURCES Lagged Returns
When evaluating NOVAGOLD RESOURCES's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NOVAGOLD RESOURCES stock have on its future price. NOVAGOLD RESOURCES 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, NOVAGOLD RESOURCES autocorrelation shows the relationship between NOVAGOLD RESOURCES stock current value and its past values and can show if there is a momentum factor associated with investing in NOVAGOLD RESOURCES.
Regressed Prices |
| Timeline |
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| BNB | Binance Coin |
Additional Information and Resources on Investing in NOVAGOLD Stock
When determining whether NOVAGOLD RESOURCES is a strong investment it is important to analyze NOVAGOLD RESOURCES'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 NOVAGOLD RESOURCES's future performance. For an informed investment choice regarding NOVAGOLD Stock, refer to the following important reports:Check out NOVAGOLD RESOURCES Correlation, NOVAGOLD RESOURCES Volatility and NOVAGOLD RESOURCES Alpha and Beta module to complement your research on NOVAGOLD RESOURCES. For information on how to trade NOVAGOLD Stock refer to our How to Trade NOVAGOLD Stock guide.You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
NOVAGOLD RESOURCES 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.