NOVATECH (Korea) Market Value
| 285490 Stock | KRW 14,550 110.00 0.75% |
| Symbol | NOVATECH |
NOVATECH '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 NOVATECH'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 NOVATECH.
| 03/15/2023 |
| 01/03/2025 |
If you would invest 0.00 in NOVATECH on March 15, 2023 and sell it all today you would earn a total of 0.00 from holding NOVATECH Co or generate 0.0% return on investment in NOVATECH over 660 days. NOVATECH is related to or competes with LG Household, Chorokbaem Healthcare, BNK Financial, Woorim Machinery, CKH Food, Dongbu Insurance, and INFINITT Healthcare. Novatech Co., Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of magnet and magnet ap... More
NOVATECH 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 NOVATECH'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 NOVATECH Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.87 | |||
| Information Ratio | 0.0581 | |||
| Maximum Drawdown | 31.38 | |||
| Value At Risk | (5.37) | |||
| Potential Upside | 8.59 |
NOVATECH Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NOVATECH's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NOVATECH's standard deviation. In reality, there are many statistical measures that can use NOVATECH historical prices to predict the future NOVATECH's volatility.| Risk Adjusted Performance | 0.0571 | |||
| Jensen Alpha | 0.2799 | |||
| Total Risk Alpha | 0.2706 | |||
| Sortino Ratio | 0.0971 | |||
| Treynor Ratio | 1.46 |
NOVATECH Backtested Returns
NOVATECH appears to be very steady, given 3 months investment horizon. NOVATECH has Sharpe Ratio of 0.0645, which conveys that the firm had a 0.0645% return per unit of standard deviation over the last 3 months. We have found thirty technical indicators for NOVATECH, which you can use to evaluate the volatility of the firm. Please exercise NOVATECH's Market Risk Adjusted Performance of 1.47, mean deviation of 2.74, and Risk Adjusted Performance of 0.0571 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, NOVATECH holds a performance score of 5. The company secures a Beta (Market Risk) of 0.19, which conveys not very significant fluctuations relative to the market. As returns on the market increase, NOVATECH's returns are expected to increase less than the market. However, during the bear market, the loss of holding NOVATECH is expected to be smaller as well. Please check NOVATECH's jensen alpha, sortino ratio, maximum drawdown, as well as the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether NOVATECH's current price movements will revert.
Auto-correlation | 0.57 |
Modest predictability
NOVATECH Co has modest predictability. Overlapping area represents the amount of predictability between NOVATECH time series from 15th of March 2023 to 8th of February 2024 and 8th of February 2024 to 3rd of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of NOVATECH price movement. The serial correlation of 0.57 indicates that roughly 57.0% of current NOVATECH price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.57 | |
| Spearman Rank Test | 0.48 | |
| Residual Average | 0.0 | |
| Price Variance | 13.7 M |
NOVATECH lagged returns against current returns
Autocorrelation, which is NOVATECH 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 NOVATECH's stock expected returns. We can calculate the autocorrelation of NOVATECH returns to help us make a trade decision. For example, suppose you find that NOVATECH 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 |
NOVATECH 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 NOVATECH stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NOVATECH stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NOVATECH stock over time.
Current vs Lagged Prices |
| Timeline |
NOVATECH Lagged Returns
When evaluating NOVATECH's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NOVATECH stock have on its future price. NOVATECH 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, NOVATECH autocorrelation shows the relationship between NOVATECH stock current value and its past values and can show if there is a momentum factor associated with investing in NOVATECH Co.
Regressed Prices |
| Timeline |
Pair Trading with NOVATECH
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if NOVATECH position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in NOVATECH will appreciate offsetting losses from the drop in the long position's value.Moving against NOVATECH Stock
| 0.55 | 006910 | Bosung Power Technology | PairCorr |
| 0.42 | 247540 | Ecopro BM | PairCorr |
| 0.37 | 262260 | APro | PairCorr |
| 0.34 | 125210 | Amogreentech CoLtd | PairCorr |
| 0.32 | 243840 | Shin Heung Energy | PairCorr |
The ability to find closely correlated positions to NOVATECH could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NOVATECH when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NOVATECH - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NOVATECH Co to buy it.
The correlation of NOVATECH is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NOVATECH moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NOVATECH moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for NOVATECH can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in NOVATECH Stock
NOVATECH financial ratios help investors to determine whether NOVATECH 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 NOVATECH with respect to the benefits of owning NOVATECH security.