Nova Lithium Corp Stock Market Value
| NVLIF Stock | 0.26 0.01 3.70% |
| Symbol | Nova |
Please note, there is a significant difference between Nova Lithium's value and its price as these two are different measures arrived at by different means. Investors typically determine if Nova Lithium is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Nova Lithium'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.
Nova Lithium '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 Lithium's 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 Lithium.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Nova Lithium on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Nova Lithium Corp or generate 0.0% return on investment in Nova Lithium over 30 days. Nova Lithium is related to or competes with Apple, Microsoft, Alphabet, and Meta Platforms. More
Nova Lithium 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 Lithium's 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 Lithium Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 8.43 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 48.69 | |||
| Value At Risk | (9.38) | |||
| Potential Upside | 11.11 |
Nova Lithium Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nova Lithium's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nova Lithium's standard deviation. In reality, there are many statistical measures that can use Nova Lithium historical prices to predict the future Nova Lithium's volatility.| Risk Adjusted Performance | 0.0168 | |||
| Jensen Alpha | 0.052 | |||
| Total Risk Alpha | (1.04) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.7205 |
Nova Lithium Corp Backtested Returns
Nova Lithium Corp has Sharpe Ratio of -0.0187, which conveys that the firm had a -0.0187% return per unit of risk over the last 3 months. Nova Lithium exposes thirty different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nova Lithium's Mean Deviation of 4.36, risk adjusted performance of 0.0168, and Downside Deviation of 8.43 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.0866, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Nova Lithium's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nova Lithium is expected to be smaller as well. At this point, Nova Lithium Corp has a negative expected return of -0.13%. Please make sure to verify Nova Lithium's potential upside and the relationship between the skewness and price action indicator , to decide if Nova Lithium Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.29 |
Poor predictability
Nova Lithium Corp has poor predictability. Overlapping area represents the amount of predictability between Nova Lithium time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 Lithium Corp price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Nova Lithium price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | -0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Nova Lithium Corp lagged returns against current returns
Autocorrelation, which is Nova Lithium 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 Lithium's pink sheet expected returns. We can calculate the autocorrelation of Nova Lithium returns to help us make a trade decision. For example, suppose you find that Nova Lithium 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 Lithium 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 Lithium pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova Lithium 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 Lithium pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Nova Lithium Lagged Returns
When evaluating Nova Lithium's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nova Lithium pink sheet have on its future price. Nova Lithium 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 Lithium autocorrelation shows the relationship between Nova Lithium pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Nova Lithium Corp.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Nova Pink Sheet
Nova Lithium financial ratios help investors to determine whether Nova Pink Sheet 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 Nova with respect to the benefits of owning Nova Lithium security.