NOVRF OTC Stock Performance

NOVRF -  USA Stock  

USD 2.78  0.09  3.35%

On a scale of 0 to 100, NOVA ROYALTY holds a performance score of 3. The company secures a Beta (Market Risk) of 1.2404, which conveys a somewhat significant risk relative to the market. Let's try to break down what NOVRF's beta means in this case. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, NOVA ROYALTY will likely underperform. Although it is extremely important to respect NOVA ROYALTY CORP price patterns, it is better to be realistic regarding the information on equity historical price patterns. The philosophy towards estimating future performance of any stock is to evaluate the business as a whole together with its past performance, including all available fundamental and technical indicators. By reviewing NOVA ROYALTY CORP technical indicators, you can currently evaluate if the expected return of 0.21% will be sustainable into the future. Please exercises NOVA ROYALTY CORP jensen alpha and downside variance to make a quick decision on whether NOVA ROYALTY CORP current price movements will revert.

NOVRF O TC Stock Performance 

 
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 NOVRF Performance
3 of 100
Compared to the overall equity markets, risk-adjusted returns on investments in NOVA ROYALTY CORP are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of rather unfluctuating basic indicators, NOVA ROYALTY exhibited solid returns over the last few months and may actually be approaching a breakup point. ...more

NOVRF Price Channel

Quick Ratio0.49
Fifty Two Week Low1.1500
Fifty Two Week High6.0000

NOVA ROYALTY Relative Risk vs. Return Landscape

If you would invest  255.00  in NOVA ROYALTY CORP on July 19, 2021 and sell it today you would earn a total of  23.00  from holding NOVA ROYALTY CORP or generate 9.02% return on investment over 90 days. NOVA ROYALTY CORP is currently producing 0.2102% returns and takes up 3.9914% volatility of returns over 90 trading days. Put another way, 34% of traded otc stocks are less volatile than NOVRF, and 97% of all traded equity instruments are likely to generate higher returns over the next 90 trading days.
 Daily Expected Return (%) 
      Risk (%) 
Assuming the 90 days horizon NOVA ROYALTY is expected to generate 5.43 times more return on investment than the market. However, the company is 5.43 times more volatile than its market benchmark. It trades about 0.05 of its potential returns per unit of risk. The DOW is currently generating roughly 0.08 per unit of risk.

NOVA ROYALTY Market Risk Analysis

Today, many novice investors tend to focus exclusively on investment returns with little concern for NOVA ROYALTY's investment risk. Standard deviation is the most common way to measure market volatility of otc stocks, such as NOVA ROYALTY CORP, and traders can use it to determine the average amount a NOVA ROYALTY's price has deviated from the expected return over a period of time. It is calculated by determining the expected price for the established period and then subtracting this figure from each price point. The differences are then squared, summed, and averaged to produce the variance.

Sharpe Ratio = 0.0527

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Estimated Market Risk
 3.99
  actual daily
 
 34 %
of total potential
 
3434
Expected Return
 0.21
  actual daily
 
 3 %
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33
Risk-Adjusted Return
 0.05
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 3 %
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33
Based on monthly moving average NOVA ROYALTY is performing at about 3% of its full potential. If added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of NOVA ROYALTY by adding it to a well-diversified portfolio.

About NOVA ROYALTY Performance

To evaluate NOVA ROYALTY CORP OTC Stock as a possible investment, you need to clearly understand its upside potential, downside risk, and overall future performance outlook. You may be satisfied when NOVA ROYALTY generates a 15% return over the last few months, but what if the market is generating 25% over the same period? In this case, it makes sense to compare NOVRF OTC Stock's performance with different market indexes, such as the Dow or NASDAQ Composite. These indexes can act as benchmarks that will help you to understand NOVA ROYALTY CORP stock market performance in a much more refined way. At Macroaxis, we take it even further. The Macroaxis performance score is an integer between 0 and 100 that represents NOVRF's market performance from a risk-adjusted return perspective. Generally speaking, the higher the score, the better is overall performance as compared to other investors. The score is normalized against the average investing universe (the best we can interpret from the data available). Within this methodology, scores of individual equity instruments will always be inferior to the scores of portfolios of equities as portfolios typically diversify a lot of unsystematic risks away. The formula to derive the Macroaxis score bases on multiple unequally-weighted factors. For more information, refer to our portfolio performance evaluation section.
Please also refer to our technical analysis and fundamental analysis pages.
Nova Royalty Corp., a royalty company, focuses on the acquisition and management of royalties on the copper and nickel deposits. The company was incorporated in 2018 and is headquartered in Vancouver, Canada. NOVA ROYALTY operates under Other Industrial Metals Mining classification in the United States and is traded on OTC Exchange.

Things to note about NOVA ROYALTY CORP

Checking the ongoing alerts about NOVA ROYALTY for important developments is a great way to find new opportunities for your next move. Our stock alerts and notifications screener for NOVA ROYALTY CORP help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.

NOVA ROYALTY Alerts

Equity Alerts and Improvement Suggestions

NOVA ROYALTY CORP has very high historical volatility over the last 90 days
The company has accumulated 4.63 M in total debt with debt to equity ratio (D/E) of 0.07, which may suggest the company is not taking enough advantage from borrowing. NOVA ROYALTY CORP has a current ratio of 0.59, indicating that it has a negative working capital and may not be able to pay financial obligations in time and when they become due.
The entity reported the revenue of 6.13 K. Net Loss for the year was (4.91 M) with profit before overhead, payroll, taxes, and interest of 2.06 K.
NOVA ROYALTY CORP has accumulated about 710.78 K in cash with (3.26 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.01.
Roughly 20.0% of NOVA ROYALTY outstanding shares are owned by corporate insiders
Additionally, see Stocks Correlation. Note that the NOVA ROYALTY CORP information on this page should be used as a complementary analysis to other NOVA ROYALTY'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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.

Complementary Tools for NOVRF OTC Stock analysis

When running NOVA ROYALTY CORP price analysis, check to measure NOVA ROYALTY'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 ROYALTY is operating at the current time. Most of NOVA ROYALTY's value examination focuses on studying past and present price action to predict the probability of NOVA ROYALTY's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move NOVA ROYALTY's price. Additionally, you may evaluate how the addition of NOVA ROYALTY to your portfolios can decrease your overall portfolio volatility.
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The market value of NOVA ROYALTY CORP is measured differently than its book value, which is the value of NOVRF that is recorded on the company's balance sheet. Investors also form their own opinion of NOVA ROYALTY's value that differs from its market value or its book value, called intrinsic value, which is NOVA ROYALTY'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 ROYALTY's market value can be influenced by many factors that don't directly affect NOVA ROYALTY CORP underlying business (such as pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between NOVA ROYALTY's value and its price as these two are different measures arrived at by different means. Investors typically determine NOVA ROYALTY value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NOVA ROYALTY'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.