Sernova Corp Stock Market Value
| SVA Stock | 0.22 0.01 4.35% |
| Symbol | Sernova |
Sernova Corp Price To Book Ratio
Sernova Corp '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 Sernova Corp'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 Sernova Corp.
| 12/07/2022 |
| 11/26/2024 |
If you would invest 0.00 in Sernova Corp on December 7, 2022 and sell it all today you would earn a total of 0.00 from holding Sernova Corp or generate 0.0% return on investment in Sernova Corp over 720 days. Sernova Corp is related to or competes with Gen III, Desert Mountain, Exro Technologies, and Lithium South. Sernova Corp is entity of Canada. It is traded as Stock on TO exchange. More
Sernova Corp 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 Sernova Corp'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 Sernova Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.29 | |||
| Information Ratio | 0.0071 | |||
| Maximum Drawdown | 29.98 | |||
| Value At Risk | (4.17) | |||
| Potential Upside | 8.0 |
Sernova Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sernova Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sernova Corp's standard deviation. In reality, there are many statistical measures that can use Sernova Corp historical prices to predict the future Sernova Corp's volatility.| Risk Adjusted Performance | 0.0364 | |||
| Jensen Alpha | 0.2265 | |||
| Total Risk Alpha | (0.55) | |||
| Sortino Ratio | 0.006 | |||
| Treynor Ratio | (0.25) |
Sernova Corp Backtested Returns
Sernova Corp owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0397, which indicates the firm had a -0.0397% return per unit of risk over the last 3 months. Sernova Corp exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sernova Corp's Semi Deviation of 3.21, risk adjusted performance of 0.0364, and Coefficient Of Variation of 2729.88 to confirm the risk estimate we provide. The entity has a beta of -0.61, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Sernova Corp are expected to decrease at a much lower rate. During the bear market, Sernova Corp is likely to outperform the market. At this point, Sernova Corp has a negative expected return of -0.18%. Please make sure to validate Sernova Corp's value at risk and the relationship between the expected short fall and price action indicator , to decide if Sernova Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.53 |
Modest predictability
Sernova Corp has modest predictability. Overlapping area represents the amount of predictability between Sernova Corp time series from 7th of December 2022 to 2nd of December 2023 and 2nd of December 2023 to 26th 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 Sernova Corp price movement. The serial correlation of 0.53 indicates that about 53.0% of current Sernova Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Sernova Corp lagged returns against current returns
Autocorrelation, which is Sernova Corp 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 Sernova Corp's stock expected returns. We can calculate the autocorrelation of Sernova Corp returns to help us make a trade decision. For example, suppose you find that Sernova Corp 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 |
Sernova Corp 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 Sernova Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sernova Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sernova Corp stock over time.
Current vs Lagged Prices |
| Timeline |
Sernova Corp Lagged Returns
When evaluating Sernova Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sernova Corp stock have on its future price. Sernova Corp 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, Sernova Corp autocorrelation shows the relationship between Sernova Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Sernova Corp.
Regressed Prices |
| Timeline |
Pair Trading with Sernova Corp
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 Sernova Corp 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 Sernova Corp will appreciate offsetting losses from the drop in the long position's value.Moving against Sernova Stock
| 0.66 | GOOG | Alphabet CDR | PairCorr |
| 0.57 | NVDA | NVIDIA CDR | PairCorr |
| 0.5 | AMZN | Amazon CDR | PairCorr |
| 0.5 | TSLA | Tesla Inc CDR | PairCorr |
| 0.46 | TD-PFI | Toronto Dominion Bank | PairCorr |
The ability to find closely correlated positions to Sernova Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sernova Corp 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 Sernova Corp - 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 Sernova Corp to buy it.
The correlation of Sernova Corp 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 Sernova Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sernova Corp 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 Sernova Corp 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 Sernova Stock
Sernova Corp financial ratios help investors to determine whether Sernova 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 Sernova with respect to the benefits of owning Sernova Corp security.