Novanta Stock Market Value
| NOVT Stock | USD 173.43 3.64 2.14% |
| Symbol | Novanta |
Novanta Price To Book Ratio
Is Electronic Equipment, Instruments & Components space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Novanta. If investors know Novanta will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Novanta listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.10) | Earnings Share 1.66 | Revenue Per Share 25.689 | Quarterly Revenue Growth 0.103 | Return On Assets 0.0535 |
The market value of Novanta is measured differently than its book value, which is the value of Novanta that is recorded on the company's balance sheet. Investors also form their own opinion of Novanta's value that differs from its market value or its book value, called intrinsic value, which is Novanta's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Novanta's market value can be influenced by many factors that don't directly affect Novanta's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Novanta's value and its price as these two are different measures arrived at by different means. Investors typically determine if Novanta is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Novanta's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Novanta '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 Novanta'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 Novanta.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Novanta on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Novanta or generate 0.0% return on investment in Novanta over 30 days. Novanta is related to or competes with Mesa Laboratories, Itron, Fortive Corp, Vishay Precision, ESCO Technologies, Sono Tek, and Badger Meter. Novanta Inc., together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision... More
Novanta 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 Novanta'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 Novanta upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 13.09 | |||
| Value At Risk | (2.48) | |||
| Potential Upside | 2.84 |
Novanta Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Novanta's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Novanta's standard deviation. In reality, there are many statistical measures that can use Novanta historical prices to predict the future Novanta's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.31) | |||
| Total Risk Alpha | (0.42) | |||
| Treynor Ratio | (0.04) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Novanta's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Novanta Backtested Returns
Novanta has Sharpe Ratio of -0.0397, which conveys that the firm had a -0.0397% return per unit of risk over the last 3 months. Novanta exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Novanta's Mean Deviation of 1.37, risk adjusted performance of (0.02), and Standard Deviation of 2.14 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 1.92, which conveys a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Novanta will likely underperform. At this point, Novanta has a negative expected return of -0.0859%. Please make sure to verify Novanta's value at risk and rate of daily change , to decide if Novanta performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.07 |
Virtually no predictability
Novanta has virtually no predictability. Overlapping area represents the amount of predictability between Novanta time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Novanta price movement. The serial correlation of 0.07 indicates that barely 7.0% of current Novanta price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.07 | |
| Spearman Rank Test | -0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 18.39 |
Novanta lagged returns against current returns
Autocorrelation, which is Novanta 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 Novanta's stock expected returns. We can calculate the autocorrelation of Novanta returns to help us make a trade decision. For example, suppose you find that Novanta 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 |
Novanta 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 Novanta stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Novanta stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Novanta stock over time.
Current vs Lagged Prices |
| Timeline |
Novanta Lagged Returns
When evaluating Novanta's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Novanta stock have on its future price. Novanta 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, Novanta autocorrelation shows the relationship between Novanta stock current value and its past values and can show if there is a momentum factor associated with investing in Novanta.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Novanta Stock Analysis
When running Novanta's price analysis, check to measure Novanta'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 Novanta is operating at the current time. Most of Novanta's value examination focuses on studying past and present price action to predict the probability of Novanta's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Novanta's price. Additionally, you may evaluate how the addition of Novanta to your portfolios can decrease your overall portfolio volatility.