Novocure Stock Market Value
| NVCR Stock | USD 11.83 0.26 2.15% |
| Symbol | Novocure |
Novocure Price To Book Ratio
Is Novocure'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 Novocure. If investors know Novocure 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 Novocure listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.06) | Earnings Share (1.95) | Revenue Per Share 4.787 | Quarterly Revenue Growth 0.042 | Return On Assets (0.12) |
The market value of Novocure is measured differently than its book value, which is the value of Novocure that is recorded on the company's balance sheet. Investors also form their own opinion of Novocure's value that differs from its market value or its book value, called intrinsic value, which is Novocure'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 Novocure's market value can be influenced by many factors that don't directly affect Novocure'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 Novocure's value and its price as these two are different measures arrived at by different means. Investors typically determine if Novocure is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Novocure'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.
Novocure '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 Novocure'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 Novocure.
| 07/28/2023 |
| 04/23/2024 |
If you would invest 0.00 in Novocure on July 28, 2023 and sell it all today you would earn a total of 0.00 from holding Novocure or generate 0.0% return on investment in Novocure over 270 days. Novocure is related to or competes with HealthStream, National Research, HealthEquity, Health Catalyst, and Definitive Healthcare. NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating ... More
Novocure 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 Novocure'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 Novocure upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.62 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 26.24 | |||
| Value At Risk | (6.26) | |||
| Potential Upside | 9.01 |
Novocure Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Novocure's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Novocure's standard deviation. In reality, there are many statistical measures that can use Novocure historical prices to predict the future Novocure's volatility.| Risk Adjusted Performance | 0.0171 | |||
| Jensen Alpha | (0.23) | |||
| Total Risk Alpha | (0.52) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.0146 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Novocure'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.
Novocure Backtested Returns
Novocure has Sharpe Ratio of -0.0431, which conveys that the firm had a -0.0431% return per unit of risk over the last 3 months. Novocure exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Novocure's Mean Deviation of 3.51, downside deviation of 3.62, and Risk Adjusted Performance of 0.0171 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 3.73, 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, Novocure will likely underperform. Novocure has an expected return of -0.18%. Please make sure to verify Novocure downside variance, as well as the relationship between the accumulation distribution and price action indicator , to decide if Novocure performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.24 |
Weak reverse predictability
Novocure has weak reverse predictability. Overlapping area represents the amount of predictability between Novocure time series from 28th of July 2023 to 10th of December 2023 and 10th of December 2023 to 23rd 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 Novocure price movement. The serial correlation of -0.24 indicates that over 24.0% of current Novocure price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.24 | |
| Spearman Rank Test | -0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 1.47 |
Novocure lagged returns against current returns
Autocorrelation, which is Novocure 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 Novocure's stock expected returns. We can calculate the autocorrelation of Novocure returns to help us make a trade decision. For example, suppose you find that Novocure 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 |
Novocure 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 Novocure stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Novocure stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Novocure stock over time.
Current vs Lagged Prices |
| Timeline |
Novocure Lagged Returns
When evaluating Novocure's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Novocure stock have on its future price. Novocure 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, Novocure autocorrelation shows the relationship between Novocure stock current value and its past values and can show if there is a momentum factor associated with investing in Novocure.
Regressed Prices |
| Timeline |
Novocure Investors Sentiment
The influence of Novocure's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Novocure. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Novocure's public news can be used to forecast risks associated with an investment in Novocure. The trend in average sentiment can be used to explain how an investor holding Novocure can time the market purely based on public headlines and social activities around Novocure. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Novocure's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Novocure's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Novocure's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Novocure.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Novocure in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Novocure's short interest history, or implied volatility extrapolated from Novocure options trading.
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Try AI Portfolio ArchitectCheck out Novocure Correlation, Novocure Volatility and Novocure Alpha and Beta module to complement your research on Novocure. To learn how to invest in Novocure Stock, please use our How to Invest in Novocure guide.Note that the Novocure information on this page should be used as a complementary analysis to other Novocure's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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When running Novocure's price analysis, check to measure Novocure'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 Novocure is operating at the current time. Most of Novocure's value examination focuses on studying past and present price action to predict the probability of Novocure's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Novocure's price. Additionally, you may evaluate how the addition of Novocure to your portfolios can decrease your overall portfolio volatility.
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Novocure 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.