NOVAGOLD RESOURCES (Germany) Momentum Indicators Rate of change ratio
| NGR Stock | EUR 3.22 0.01 0.31% |
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The output start index for this execution was fifty with a total number of output elements of eleven. The Rate of change ratio: (price/prevPrice) indicator measures the change in NOVAGOLD RESOURCES price from one period to the next.
NOVAGOLD RESOURCES Technical Analysis Modules
Most technical analysis of NOVAGOLD RESOURCES help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for NOVAGOLD from various momentum indicators to cycle indicators. When you analyze NOVAGOLD charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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About NOVAGOLD RESOURCES Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of NOVAGOLD RESOURCES. We use our internally-developed statistical techniques to arrive at the intrinsic value of NOVAGOLD RESOURCES based on widely used predictive technical indicators. In general, we focus on analyzing NOVAGOLD Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build NOVAGOLD RESOURCES's daily price indicators and compare them against related drivers, such as momentum indicators and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of NOVAGOLD RESOURCES's intrinsic value. In addition to deriving basic predictive indicators for NOVAGOLD RESOURCES, we also check how macroeconomic factors affect NOVAGOLD RESOURCES price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
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NOVAGOLD RESOURCES pair trading
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 NOVAGOLD RESOURCES 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 NOVAGOLD RESOURCES will appreciate offsetting losses from the drop in the long position's value.NOVAGOLD RESOURCES Pair Trading
NOVAGOLD RESOURCES Pair Trading Analysis
The ability to find closely correlated positions to NOVAGOLD RESOURCES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NOVAGOLD RESOURCES 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 NOVAGOLD RESOURCES - 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 NOVAGOLD RESOURCES to buy it.
The correlation of NOVAGOLD RESOURCES 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 NOVAGOLD RESOURCES moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NOVAGOLD RESOURCES 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 NOVAGOLD RESOURCES 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.Additional Information and Resources on Investing in NOVAGOLD Stock
When determining whether NOVAGOLD RESOURCES is a strong investment it is important to analyze NOVAGOLD RESOURCES's 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 NOVAGOLD RESOURCES's future performance. For an informed investment choice regarding NOVAGOLD Stock, refer to the following important reports:Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NOVAGOLD RESOURCES. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. For information on how to trade NOVAGOLD Stock refer to our How to Trade NOVAGOLD Stock guide.You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.