Nova Minerals Limited Stock Market Value
| NVA Stock | 8.04 0.13 1.59% |
| Symbol | Nova |
Nova Minerals Limited Price To Book Ratio
Is Precious Metals 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 Nova Minerals. If investors know Nova 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 Nova Minerals listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Nova Minerals Limited is measured differently than its book value, which is the value of Nova that is recorded on the company's balance sheet. Investors also form their own opinion of Nova Minerals' value that differs from its market value or its book value, called intrinsic value, which is Nova Minerals' 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 Nova Minerals' market value can be influenced by many factors that don't directly affect Nova Minerals' 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 Nova Minerals' value and its price as these two are different measures arrived at by different means. Investors typically determine if Nova Minerals is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Nova Minerals' 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.
Nova Minerals '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 Nova Minerals' 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 Nova Minerals.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Nova Minerals on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Nova Minerals Limited or generate 0.0% return on investment in Nova Minerals over 30 days. Nova Minerals is related to or competes with Collective Mining, New Gold, Osisko Development, Paramount Gold, International Tower, and Tanzanian Royalty. Nova Minerals is entity of United States More
Nova Minerals 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 Nova Minerals' 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 Nova Minerals Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.58 | |||
| Information Ratio | 0.0889 | |||
| Maximum Drawdown | 37.9 | |||
| Value At Risk | (10.31) | |||
| Potential Upside | 9.84 |
Nova Minerals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nova Minerals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nova Minerals' standard deviation. In reality, there are many statistical measures that can use Nova Minerals historical prices to predict the future Nova Minerals' volatility.| Risk Adjusted Performance | 0.0899 | |||
| Jensen Alpha | 0.7241 | |||
| Total Risk Alpha | (0.16) | |||
| Sortino Ratio | 0.0844 | |||
| Treynor Ratio | (0.94) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nova Minerals' 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.
Nova Minerals Limited Backtested Returns
Nova Minerals appears to be relatively risky, given 3 months investment horizon. Nova Minerals Limited has Sharpe Ratio of 0.1, which conveys that the firm had a 0.1% return per unit of risk over the last 3 months. By analyzing Nova Minerals' technical indicators, you can evaluate if the expected return of 0.65% is justified by implied risk. Please exercise Nova Minerals' Downside Deviation of 6.58, risk adjusted performance of 0.0899, and Mean Deviation of 4.45 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Nova Minerals holds a performance score of 8. The company secures a Beta (Market Risk) of -0.7, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Nova Minerals are expected to decrease at a much lower rate. During the bear market, Nova Minerals is likely to outperform the market. Please check Nova Minerals' skewness, and the relationship between the potential upside and rate of daily change , to make a quick decision on whether Nova Minerals' current price movements will revert.
Auto-correlation | -0.48 |
Modest reverse predictability
Nova Minerals Limited has modest reverse predictability. Overlapping area represents the amount of predictability between Nova Minerals time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 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 Nova Minerals Limited price movement. The serial correlation of -0.48 indicates that about 48.0% of current Nova Minerals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.48 | |
| Spearman Rank Test | -0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
Nova Minerals Limited lagged returns against current returns
Autocorrelation, which is Nova Minerals 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 Nova Minerals' stock expected returns. We can calculate the autocorrelation of Nova Minerals returns to help us make a trade decision. For example, suppose you find that Nova Minerals 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 |
Nova Minerals 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 Nova Minerals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova Minerals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nova Minerals stock over time.
Current vs Lagged Prices |
| Timeline |
Nova Minerals Lagged Returns
When evaluating Nova Minerals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nova Minerals stock have on its future price. Nova Minerals 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, Nova Minerals autocorrelation shows the relationship between Nova Minerals stock current value and its past values and can show if there is a momentum factor associated with investing in Nova Minerals Limited.
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.When determining whether Nova Minerals Limited is a strong investment it is important to analyze Nova Minerals' 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 Nova Minerals' future performance. For an informed investment choice regarding Nova Stock, refer to the following important reports:Check out Nova Minerals Correlation, Nova Minerals Volatility and Nova Minerals Alpha and Beta module to complement your research on Nova Minerals. You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Nova Minerals 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.