Nova Wellness (Malaysia) Market Value
| 0201 Stock | 0.45 0.01 2.27% |
| Symbol | Nova |
Nova Wellness '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 Wellness' 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 Wellness.
| 12/14/2022 |
| 12/03/2024 |
If you would invest 0.00 in Nova Wellness on December 14, 2022 and sell it all today you would earn a total of 0.00 from holding Nova Wellness Group or generate 0.0% return on investment in Nova Wellness over 720 days. Nova Wellness is related to or competes with Public Bank, Riverview Rubber, RHB Bank, Senheng New, Alliance Financial, and Choo Bee. More
Nova Wellness 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 Wellness' 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 Wellness Group upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 8.89 | |||
| Value At Risk | (4.26) | |||
| Potential Upside | 4.44 |
Nova Wellness Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nova Wellness' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nova Wellness' standard deviation. In reality, there are many statistical measures that can use Nova Wellness historical prices to predict the future Nova Wellness' volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.1) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | 0.7595 |
Nova Wellness Group Backtested Returns
As of now, Nova Stock is extremely dangerous. Nova Wellness Group has Sharpe Ratio of 0.0276, which conveys that the firm had a 0.0276% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Nova Wellness, which you can use to evaluate the volatility of the firm. Please verify Nova Wellness' Risk Adjusted Performance of (0.03), standard deviation of 2.28, and Mean Deviation of 1.53 to check out if the risk estimate we provide is consistent with the expected return of 0.0575%. Nova Wellness has a performance score of 2 on a scale of 0 to 100. The company secures a Beta (Market Risk) of -0.15, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nova Wellness are expected to decrease at a much lower rate. During the bear market, Nova Wellness is likely to outperform the market. Nova Wellness Group right now secures a risk of 2.08%. Please verify Nova Wellness Group treynor ratio, potential upside, and the relationship between the total risk alpha and maximum drawdown , to decide if Nova Wellness Group will be following its current price movements.
Auto-correlation | 0.72 |
Good predictability
Nova Wellness Group has good predictability. Overlapping area represents the amount of predictability between Nova Wellness time series from 14th of December 2022 to 9th of December 2023 and 9th of December 2023 to 3rd of December 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 Wellness Group price movement. The serial correlation of 0.72 indicates that around 72.0% of current Nova Wellness price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Nova Wellness Group lagged returns against current returns
Autocorrelation, which is Nova Wellness 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 Wellness' stock expected returns. We can calculate the autocorrelation of Nova Wellness returns to help us make a trade decision. For example, suppose you find that Nova Wellness 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 Wellness 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 Wellness stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova Wellness stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nova Wellness stock over time.
Current vs Lagged Prices |
| Timeline |
Nova Wellness Lagged Returns
When evaluating Nova Wellness' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nova Wellness stock have on its future price. Nova Wellness 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 Wellness autocorrelation shows the relationship between Nova Wellness stock current value and its past values and can show if there is a momentum factor associated with investing in Nova Wellness Group.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Nova Stock
Nova Wellness financial ratios help investors to determine whether Nova Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Nova with respect to the benefits of owning Nova Wellness security.