Nova Minerals (Germany) Market Value
| QM3 Stock | EUR 0.19 0.03 18.75% |
| 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' 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.
| 11/23/2024 |
| 12/23/2024 |
If you would invest 0.00 in Nova Minerals on November 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 WT OFFSHORE, China Resources, Monster Beverage, National Beverage, United Breweries, Aluminumof China, and Tsingtao Brewery. Nova Minerals Limited engages in the mineral exploration activities in the United States, Australia, and Canada 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 | 9.72 | |||
| Information Ratio | 0.177 | |||
| Maximum Drawdown | 41.75 | |||
| Value At Risk | (8.33) | |||
| Potential Upside | 15.38 |
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 | 0.1525 | |||
| Jensen Alpha | 1.44 | |||
| Total Risk Alpha | 1.21 | |||
| Sortino Ratio | 0.1462 | |||
| Treynor Ratio | 5.0 |
Nova Minerals Limited Backtested Returns
Nova Minerals is out of control given 3 months investment horizon. Nova Minerals Limited has Sharpe Ratio of 0.19, which conveys that the firm had a 0.19% return per unit of risk over the last 3 months. We were able to interpolate twenty-seven different technical indicators, which can help you to evaluate if expected returns of 1.55% are justified by taking the suggested risk. Use Nova Minerals Limited Downside Deviation of 9.72, mean deviation of 5.99, and Risk Adjusted Performance of 0.1525 to evaluate company specific risk that cannot be diversified away. Nova Minerals holds a performance score of 15 on a scale of zero to a hundred. The company secures a Beta (Market Risk) of 0.29, 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. Use Nova Minerals Limited treynor ratio, value at risk, downside variance, as well as the relationship between the maximum drawdown and potential upside , to analyze future returns on Nova Minerals Limited.
Auto-correlation | 0.48 |
Average predictability
Nova Minerals Limited has average predictability. Overlapping area represents the amount of predictability between Nova Minerals time series from 23rd of November 2024 to 8th of December 2024 and 8th of December 2024 to 23rd of December 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 | 0.68 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
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 |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in Nova Stock
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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.