Novan Stock Statistic Functions Pearson Correlation Coefficient

NOVN
 Stock
  

USD 3.03  0.12  4.12%   

Novan statistic functions tool provides the execution environment for running the Pearson Correlation Coefficient function and other technical functions against Novan. Novan value trend is the prevailing direction of the price over some defined period of time. The concept of trend is an important idea in technical analysis, including the analysis of statistic functions indicators. As with most other technical indicators, the Pearson Correlation Coefficient function function is designed to identify and follow existing trends. Novan statistical functions help analysts to determine different price movement patterns based on how price series statistical indicators change over time. Please specify Time Period to run this model.

Function
Time Period
Execute Function
The output start index for this execution was fourty-seven with a total number of output elements of fourteen. The Pearsons Correlation Coefficient is one of the most common measures of correlation in financial statistics. It shows the linear relationship between price series of Novan Inc and its benchmark or peer.
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Novan Technical Analysis Modules

Most technical analysis of Novan 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 Novan from various momentum indicators to cycle indicators. When you analyze Novan 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.

About Novan 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 Novan Inc. We use our internally-developed statistical techniques to arrive at the intrinsic value of Novan Inc based on widely used predictive technical indicators. In general, we focus on analyzing Novan Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Novan's daily price indicators and compare them against related drivers, such as statistic functions 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 Novan's intrinsic value. In addition to deriving basic predictive indicators for Novan, we also check how macroeconomic factors affect Novan price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
 2021 2022 (projected)
PPandE Turnover0.410.39
Long Term Debt to Equity0.140.15
Sophisticated investors, who have witnessed many market ups and downs, frequently view the market will even out over time. This tendency of Novan'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. Please use the tools below to analyze the current value of Novan in the context of predictive analytics.
Hype
Prediction
LowEstimated ValueHigh
0.152.996.35
Details
Intrinsic
Valuation
LowReal ValueHigh
2.7311.1114.47
Details
Naive
Forecast
LowNext ValueHigh
0.062.946.31
Details
4 Analysts
Consensus
LowTarget PriceHigh
16.0036.0070.00
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Novan. Your research has to be compared to or analyzed against Novan's peers to derive any actionable benefits. When done correctly, Novan's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy towards taking a position in Novan Inc.

Novan Investors Sentiment

The influence of Novan'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 Novan. 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 markets does not have a solid backing from leading economists and market statisticians.

Novan Implied Volatility

    
  305.47  
Novan's implied volatility exposes the market's sentiment of Novan Inc stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Novan's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Novan stock will not fluctuate a lot when Novan's options are near their expiration.
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 Novan 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, Novan's short interest history, or implied volatility extrapolated from Novan options trading.

Trending Themes

If you are a self-driven investor, you will appreciate our idea-generating investing themes. Our themes help you align your investments inspirations with your core values and are essential building blocks of your portfolios. A typical investing theme is an unweighted collection of up to 20 funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of equities with common characteristics such as industry and growth potential, volatility, or market segment.
Macroaxis Index
Invested few shares
Software
Invested few shares
Chemicals Makers
Invested over 40 shares
Additionally, see Stocks Correlation. Note that the Novan Inc information on this page should be used as a complementary analysis to other Novan'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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.

Complementary Tools for Novan Stock analysis

When running Novan Inc price analysis, check to measure Novan'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 Novan is operating at the current time. Most of Novan's value examination focuses on studying past and present price action to predict the probability of Novan's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Novan's price. Additionally, you may evaluate how the addition of Novan to your portfolios can decrease your overall portfolio volatility.
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Is Novan'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 Novan. If investors know Novan 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 Novan 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 YOY
-0.61
Market Capitalization
64.5 M
Quarterly Revenue Growth YOY
7.24
Return On Assets
-0.24
Return On Equity
-1.66
The market value of Novan Inc is measured differently than its book value, which is the value of Novan that is recorded on the company's balance sheet. Investors also form their own opinion of Novan's value that differs from its market value or its book value, called intrinsic value, which is Novan'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 Novan's market value can be influenced by many factors that don't directly affect Novan'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 Novan's value and its price as these two are different measures arrived at by different means. Investors typically determine Novan value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Novan'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.