Nova Stock Market Value
| NVMI Stock | USD 170.12 5.87 3.34% |
| Symbol | Nova |
Is Nova's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Nova. If investors know Nova will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Nova listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Nova is measured differently than its book value, which is the value of Nova that is recorded on the company's balance sheet. Investors also form their own opinion of Nova's value that differs from its market value or its book value, called intrinsic value, which is Nova's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Nova's market value can be influenced by many factors that don't directly affect Nova's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Nova's value and its price as these two are different measures arrived at by different means. Investors typically determine if Nova is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Nova'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 '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'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 Nova.
| 03/18/2024 |
| 04/17/2024 |
If you would invest 0.00 in Nova on March 18, 2024 and sell it all today you would earn a total of 0.00 from holding Nova or generate 0.0% return on investment in Nova over 30 days. Nova is related to or competes with InTest, Onto Innovation, Kulicke, Ichor Holdings, Entegris, Axcelis Technologies, and Veeco Instruments. Nova Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Is... More
Nova 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'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 Nova upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.04 | |||
| Information Ratio | 0.1262 | |||
| Maximum Drawdown | 11.44 | |||
| Value At Risk | (3.34) | |||
| Potential Upside | 4.88 |
Nova Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nova's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nova's standard deviation. In reality, there are many statistical measures that can use Nova historical prices to predict the future Nova's volatility.| Risk Adjusted Performance | 0.1013 | |||
| Jensen Alpha | 0.2792 | |||
| Total Risk Alpha | 0.1783 | |||
| Sortino Ratio | 0.152 | |||
| Treynor Ratio | 0.2123 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nova's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Nova Backtested Returns
Nova appears to be very steady, given 3 months investment horizon. Nova has Sharpe Ratio of 0.15, which conveys that the firm had a 0.15% return per unit of risk over the last 3 months. We have found thirty technical indicators for Nova, which you can use to evaluate the volatility of the firm. Please exercise Nova's Risk Adjusted Performance of 0.1013, mean deviation of 1.92, and Downside Deviation of 2.04 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Nova holds a performance score of 11. The company secures a Beta (Market Risk) of 1.67, which conveys a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Nova will likely underperform. Please check Nova's downside variance, as well as the relationship between the accumulation distribution and market facilitation index , to make a quick decision on whether Nova's current price movements will revert.
Auto-correlation | 0.20 |
Weak predictability
Nova has weak predictability. Overlapping area represents the amount of predictability between Nova time series from 18th of March 2024 to 2nd of April 2024 and 2nd of April 2024 to 17th of April 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 price movement. The serial correlation of 0.2 indicates that over 20.0% of current Nova price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 9.49 |
Nova lagged returns against current returns
Autocorrelation, which is Nova 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's stock expected returns. We can calculate the autocorrelation of Nova returns to help us make a trade decision. For example, suppose you find that Nova 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 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 stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nova stock over time.
Current vs Lagged Prices |
| Timeline |
Nova Lagged Returns
When evaluating Nova's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nova stock have on its future price. Nova 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 autocorrelation shows the relationship between Nova stock current value and its past values and can show if there is a momentum factor associated with investing in Nova.
Regressed Prices |
| Timeline |
Building efficient market-beating portfolios requires time, education, and a lot of computing power!
The Portfolio Architect is an AI-driven system that provides multiple benefits to our users by leveraging cutting-edge machine learning algorithms, statistical analysis, and predictive modeling to automate the process of asset selection and portfolio construction, saving time and reducing human error for individual and institutional investors.
Try AI Portfolio ArchitectCheck out Nova Correlation, Nova Volatility and Nova Alpha and Beta module to complement your research on Nova. For more detail on how to invest in Nova Stock please use our How to Invest in Nova guide.You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Complementary Tools for Nova Stock analysis
When running Nova's price analysis, check to measure Nova's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Nova is operating at the current time. Most of Nova's value examination focuses on studying past and present price action to predict the probability of Nova's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nova's price. Additionally, you may evaluate how the addition of Nova to your portfolios can decrease your overall portfolio volatility.
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities |
Nova 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.