New Hope (Australia) Market Value
| NHC Stock | 4.73 0.02 0.42% |
| Symbol | New |
New Hope '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 New Hope'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 New Hope.
| 04/28/2024 |
| 07/27/2024 |
If you would invest 0.00 in New Hope on April 28, 2024 and sell it all today you would earn a total of 0.00 from holding New Hope or generate 0.0% return on investment in New Hope over 90 days. New Hope is related to or competes with Westpac Banking, ABACUS STORAGE, and G8 Education. New Hope is entity of Australia. It is traded as Stock on AU exchange. More
New Hope 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 New Hope'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 New Hope upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.6 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 10.33 | |||
| Value At Risk | (2.06) | |||
| Potential Upside | 2.47 |
New Hope Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New Hope's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New Hope's standard deviation. In reality, there are many statistical measures that can use New Hope historical prices to predict the future New Hope's volatility.| Risk Adjusted Performance | 0.0387 | |||
| Jensen Alpha | 0.0594 | |||
| Total Risk Alpha | (0.10) | |||
| Sortino Ratio | (0) | |||
| Treynor Ratio | 0.5477 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of New Hope'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.
New Hope Backtested Returns
Currently, New Hope is somewhat reliable. New Hope has Sharpe Ratio of 0.047, which conveys that the firm had a 0.047% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for New Hope, which you can use to evaluate the volatility of the firm. Please verify New Hope's Risk Adjusted Performance of 0.0387, mean deviation of 1.11, and Downside Deviation of 1.6 to check out if the risk estimate we provide is consistent with the expected return of 0.0774%. New Hope has a performance score of 3 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.12, which conveys not very significant fluctuations relative to the market. As returns on the market increase, New Hope's returns are expected to increase less than the market. However, during the bear market, the loss of holding New Hope is expected to be smaller as well. New Hope right now secures a risk of 1.65%. Please verify New Hope value at risk, downside variance, and the relationship between the maximum drawdown and potential upside , to decide if New Hope will be following its current price movements.
Auto-correlation | 0.43 |
Average predictability
New Hope has average predictability. Overlapping area represents the amount of predictability between New Hope time series from 28th of April 2024 to 12th of June 2024 and 12th of June 2024 to 27th of July 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 New Hope price movement. The serial correlation of 0.43 indicates that just about 43.0% of current New Hope price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.43 | |
| Spearman Rank Test | 0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
New Hope lagged returns against current returns
Autocorrelation, which is New Hope 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 New Hope's stock expected returns. We can calculate the autocorrelation of New Hope returns to help us make a trade decision. For example, suppose you find that New Hope 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 |
New Hope 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 New Hope stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New Hope stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New Hope stock over time.
Current vs Lagged Prices |
| Timeline |
New Hope Lagged Returns
When evaluating New Hope's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New Hope stock have on its future price. New Hope 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, New Hope autocorrelation shows the relationship between New Hope stock current value and its past values and can show if there is a momentum factor associated with investing in New Hope.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for New Stock Analysis
When running New Hope's price analysis, check to measure New Hope'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 New Hope is operating at the current time. Most of New Hope's value examination focuses on studying past and present price action to predict the probability of New Hope's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move New Hope's price. Additionally, you may evaluate how the addition of New Hope to your portfolios can decrease your overall portfolio volatility.