NOV (Germany) Market Value
| NO8 Stock | EUR 15.09 0.47 3.02% |
| Symbol | NOV |
NOV '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 NOV'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 NOV.
| 01/18/2025 |
| 02/17/2025 |
If you would invest 0.00 in NOV on January 18, 2025 and sell it all today you would earn a total of 0.00 from holding NOV Inc or generate 0.0% return on investment in NOV over 30 days. NOV is related to or competes with Schlumberger, Halliburton, Halliburton, Baker Hughes, Tenaris SA, China Oilfield, and NOV. National Oilwell Varco, Inc. designs, manufactures, and sells systems, components, and products for oil and gas drilling... More
NOV 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 NOV'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 NOV Inc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.1 | |||
| Information Ratio | 0.0074 | |||
| Maximum Drawdown | 16.8 | |||
| Value At Risk | (3.54) | |||
| Potential Upside | 3.7 |
NOV Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NOV's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NOV's standard deviation. In reality, there are many statistical measures that can use NOV historical prices to predict the future NOV's volatility.| Risk Adjusted Performance | 0.0156 | |||
| Jensen Alpha | 0.0183 | |||
| Total Risk Alpha | 0.0152 | |||
| Sortino Ratio | 0.0085 | |||
| Treynor Ratio | 0.0336 |
NOV Inc Backtested Returns
At this point, NOV is not too volatile. NOV Inc has Sharpe Ratio of 0.0208, which conveys that the firm had a 0.0208 % return per unit of standard deviation over the last 3 months. We have found twenty-eight technical indicators for NOV, which you can use to evaluate the volatility of the firm. Please verify NOV's Mean Deviation of 1.65, market risk adjusted performance of 0.0436, and Risk Adjusted Performance of 0.0156 to check out if the risk estimate we provide is consistent with the expected return of 0.0494%. NOV has a performance score of 1 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.56, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, NOV's returns are expected to increase less than the market. However, during the bear market, the loss of holding NOV is expected to be smaller as well. NOV Inc presently secures a risk of 2.38%. Please verify NOV Inc value at risk, downside variance, and the relationship between the maximum drawdown and potential upside , to decide if NOV Inc will be following its current price movements.
Auto-correlation | -0.78 |
Almost perfect reverse predictability
NOV Inc has almost perfect reverse predictability. Overlapping area represents the amount of predictability between NOV time series from 18th of January 2025 to 2nd of February 2025 and 2nd of February 2025 to 17th of February 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 NOV Inc price movement. The serial correlation of -0.78 indicates that around 78.0% of current NOV price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.78 | |
| Spearman Rank Test | -0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 0.34 |
NOV Inc lagged returns against current returns
Autocorrelation, which is NOV 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 NOV's stock expected returns. We can calculate the autocorrelation of NOV returns to help us make a trade decision. For example, suppose you find that NOV 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 |
NOV 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 NOV stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NOV stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NOV stock over time.
Current vs Lagged Prices |
| Timeline |
NOV Lagged Returns
When evaluating NOV's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NOV stock have on its future price. NOV 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, NOV autocorrelation shows the relationship between NOV stock current value and its past values and can show if there is a momentum factor associated with investing in NOV Inc.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in NOV Stock
When determining whether NOV Inc is a strong investment it is important to analyze NOV'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 NOV's future performance. For an informed investment choice regarding NOV Stock, refer to the following important reports:Check out NOV Correlation, NOV Volatility and NOV Alpha and Beta module to complement your research on NOV. You can also try the Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
NOV 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.