Nova Minerals Limited Stock Market Value
| NVAAF Stock | USD 0.11 0.00 0.00% |
| Symbol | Nova |
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' pink sheet 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.
| 05/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Nova Minerals on May 27, 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 180 days. Nova Minerals is related to or competes with Ardea Resources, Aurelia Metals, Centaurus Metals, Mundoro Capital, Azimut Exploration, Amarc Resources, and Silver X. Nova Minerals Limited engages in the exploration of mineral properties in Australia, Canada, and the 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' pink sheet 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.
| Information Ratio | 0.0753 | |||
| Maximum Drawdown | 22.22 |
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 | 0.1016 | |||
| Jensen Alpha | 0.2972 | |||
| Total Risk Alpha | (0.10) | |||
| Treynor Ratio | 1.34 |
Nova Minerals Limited Backtested Returns
Nova Minerals appears to be out of control, given 3 months investment horizon. Nova Minerals Limited has Sharpe Ratio of 0.13, which conveys that the firm had a 0.13% return per unit of risk over the last 3 months. We have found sixteen technical indicators for Nova Minerals, which you can use to evaluate the volatility of the firm. Please exercise Nova Minerals' Risk Adjusted Performance of 0.1016, standard deviation of 2.74, and Mean Deviation of 0.6632 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 9. The company secures a Beta (Market Risk) of 0.24, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Nova Minerals' returns are expected to increase less than the market. However, during the bear market, the loss of holding Nova Minerals is expected to be smaller as well. Please check Nova Minerals' standard deviation and the relationship between the treynor ratio and day typical price , to make a quick decision on whether Nova Minerals' current price movements will revert.
Auto-correlation | -0.1 |
Very weak reverse predictability
Nova Minerals Limited has very weak reverse predictability. Overlapping area represents the amount of predictability between Nova Minerals time series from 27th of May 2024 to 25th of August 2024 and 25th of August 2024 to 23rd 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 -0.1 indicates that less than 10.0% of current Nova Minerals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.1 | |
| Spearman Rank Test | 0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Nova Minerals Limited lagged returns against current returns
Autocorrelation, which is Nova Minerals pink sheet'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' pink sheet 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 pink sheet 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 pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova Minerals pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nova Minerals pink sheet 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 pink sheet 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 pink sheet 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 |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in Nova Pink Sheet
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 Pink Sheet, 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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
Nova Minerals technical pink sheet 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, pink sheet market cycles, or different charting patterns.