Nuvista Energy Stock Market Value
| NVA Stock | CAD 14.17 0.78 5.83% |
| Symbol | NuVista |
NuVista Energy Price To Book Ratio
NuVista Energy '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 NuVista Energy'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 NuVista Energy.
| 05/26/2024 |
| 11/22/2024 |
If you would invest 0.00 in NuVista Energy on May 26, 2024 and sell it all today you would earn a total of 0.00 from holding NuVista Energy or generate 0.0% return on investment in NuVista Energy over 180 days. NuVista Energy is related to or competes with Tamarack Valley, Birchcliff Energy, and MEG Energy. NuVista Energy Ltd., a condensate and natural gas company, engages in the development, delineation, and production of co... More
NuVista Energy 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 NuVista Energy'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 NuVista Energy upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.08 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 9.04 | |||
| Value At Risk | (3.37) | |||
| Potential Upside | 2.92 |
NuVista Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NuVista Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NuVista Energy's standard deviation. In reality, there are many statistical measures that can use NuVista Energy historical prices to predict the future NuVista Energy's volatility.| Risk Adjusted Performance | 0.0219 | |||
| Jensen Alpha | 0.0355 | |||
| Total Risk Alpha | (0.20) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | (1.18) |
NuVista Energy Backtested Returns
As of now, NuVista Stock is somewhat reliable. NuVista Energy has Sharpe Ratio of 0.0659, which conveys that the firm had a 0.0659% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for NuVista Energy, which you can use to evaluate the volatility of the firm. Please verify NuVista Energy's Risk Adjusted Performance of 0.0219, mean deviation of 1.57, and Market Risk Adjusted Performance of (1.17) to check out if the risk estimate we provide is consistent with the expected return of 0.15%. NuVista Energy has a performance score of 5 on a scale of 0 to 100. The company secures a Beta (Market Risk) of -0.0281, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning NuVista Energy are expected to decrease at a much lower rate. During the bear market, NuVista Energy is likely to outperform the market. NuVista Energy right now secures a risk of 2.27%. Please verify NuVista Energy value at risk, kurtosis, price action indicator, as well as the relationship between the semi variance and rate of daily change , to decide if NuVista Energy will be following its current price movements.
Auto-correlation | -0.4 |
Poor reverse predictability
NuVista Energy has poor reverse predictability. Overlapping area represents the amount of predictability between NuVista Energy time series from 26th of May 2024 to 24th of August 2024 and 24th of August 2024 to 22nd 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 NuVista Energy price movement. The serial correlation of -0.4 indicates that just about 40.0% of current NuVista Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.4 | |
| Spearman Rank Test | 0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.67 |
NuVista Energy lagged returns against current returns
Autocorrelation, which is NuVista Energy 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 NuVista Energy's stock expected returns. We can calculate the autocorrelation of NuVista Energy returns to help us make a trade decision. For example, suppose you find that NuVista Energy 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 |
NuVista Energy 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 NuVista Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NuVista Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NuVista Energy stock over time.
Current vs Lagged Prices |
| Timeline |
NuVista Energy Lagged Returns
When evaluating NuVista Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NuVista Energy stock have on its future price. NuVista Energy 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, NuVista Energy autocorrelation shows the relationship between NuVista Energy stock current value and its past values and can show if there is a momentum factor associated with investing in NuVista Energy.
Regressed Prices |
| Timeline |
Pair Trading with NuVista Energy
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 NuVista Energy 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 NuVista Energy will appreciate offsetting losses from the drop in the long position's value.Moving against NuVista Stock
| 0.6 | EU | enCore Energy Corp | PairCorr |
| 0.53 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.38 | ENB-PFC | Enbridge Pref 11 | PairCorr |
| 0.37 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.36 | SAGE | Sage Potash Corp | PairCorr |
The ability to find closely correlated positions to NuVista Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NuVista Energy 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 NuVista Energy - 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 NuVista Energy to buy it.
The correlation of NuVista Energy 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 NuVista Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NuVista Energy 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 NuVista Energy 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 NuVista Stock
NuVista Energy financial ratios help investors to determine whether NuVista 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 NuVista with respect to the benefits of owning NuVista Energy security.