Nova Technology (Taiwan) Market Value

6613 Stock   189.00  1.00  0.53%   
Nova Technology's market value is the price at which a share of Nova Technology trades on a public exchange. It measures the collective expectations of Nova Technology investors about its performance. Nova Technology is selling for under 189.00 as of the 13th of December 2024; that is 0.53% up since the beginning of the trading day. The stock's lowest day price was 188.5.
With this module, you can estimate the performance of a buy and hold strategy of Nova Technology and determine expected loss or profit from investing in Nova Technology over a given investment horizon. Check out Nova Technology Correlation, Nova Technology Volatility and Nova Technology Alpha and Beta module to complement your research on Nova Technology.
Symbol

Please note, there is a significant difference between Nova Technology's value and its price as these two are different measures arrived at by different means. Investors typically determine if Nova Technology is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Nova Technology'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.

Nova Technology '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 Technology'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 Nova Technology.
0.00
11/19/2023
No Change 0.00  0.0 
In 1 year and 26 days
12/13/2024
0.00
If you would invest  0.00  in Nova Technology on November 19, 2023 and sell it all today you would earn a total of 0.00 from holding Nova Technology or generate 0.0% return on investment in Nova Technology over 390 days. Nova Technology is related to or competes with Ruentex Development, WiseChip Semiconductor, Novatek Microelectronics, Leader Electronics, Advanced Ceramic, Information Technology, and Kinko Optical. More

Nova Technology 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 Technology'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 Nova Technology upside and downside potential and time the market with a certain degree of confidence.

Nova Technology Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Nova Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nova Technology's standard deviation. In reality, there are many statistical measures that can use Nova Technology historical prices to predict the future Nova Technology's volatility.
Hype
Prediction
LowEstimatedHigh
187.26189.00190.74
Details
Intrinsic
Valuation
LowRealHigh
170.10216.68218.42
Details

Nova Technology Backtested Returns

Nova Technology appears to be very steady, given 3 months investment horizon. Nova Technology has Sharpe Ratio of 0.13, which conveys that the firm had a 0.13% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Nova Technology, which you can use to evaluate the volatility of the firm. Please exercise Nova Technology's Risk Adjusted Performance of 0.1398, mean deviation of 1.26, and Downside Deviation of 1.55 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Nova Technology holds a performance score of 10. The company secures a Beta (Market Risk) of 0.21, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Nova Technology's returns are expected to increase less than the market. However, during the bear market, the loss of holding Nova Technology is expected to be smaller as well. Please check Nova Technology's sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether Nova Technology's current price movements will revert.

Auto-correlation

    
  0.14  

Insignificant predictability

Nova Technology has insignificant predictability. Overlapping area represents the amount of predictability between Nova Technology time series from 19th of November 2023 to 1st of June 2024 and 1st of June 2024 to 13th 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 Technology price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Nova Technology price fluctuation can be explain by its past prices.
Correlation Coefficient0.14
Spearman Rank Test0.09
Residual Average0.0
Price Variance256.75

Nova Technology lagged returns against current returns

Autocorrelation, which is Nova Technology 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 Technology's stock expected returns. We can calculate the autocorrelation of Nova Technology returns to help us make a trade decision. For example, suppose you find that Nova Technology 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 Technology 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 Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nova Technology stock over time.
   Current vs Lagged Prices   
       Timeline  

Nova Technology Lagged Returns

When evaluating Nova Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nova Technology stock have on its future price. Nova Technology 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 Technology autocorrelation shows the relationship between Nova Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Nova Technology.
   Regressed Prices   
       Timeline  

Pair Trading with Nova Technology

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 Nova Technology 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 Nova Technology will appreciate offsetting losses from the drop in the long position's value.

Moving together with Nova Stock

  0.74506 Golden FriendsPairCorr
  0.692421 Sunonwealth ElectricPairCorr

Moving against Nova Stock

  0.92072 Century Wind PowerPairCorr
  0.616208 Highlight Tech SplitPairCorr
  0.536125 Kenmec MechanicalPairCorr
  0.350051 YuantaP shares TaiwanPairCorr
  0.322467 C Sun ManufacturingPairCorr
The ability to find closely correlated positions to Nova Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nova Technology 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 Nova Technology - 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 Nova Technology to buy it.
The correlation of Nova Technology 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 Nova Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nova Technology 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 Nova Technology 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.
Pair CorrelationCorrelation Matching

Additional Tools for Nova Stock Analysis

When running Nova Technology's price analysis, check to measure Nova Technology'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 Technology is operating at the current time. Most of Nova Technology's value examination focuses on studying past and present price action to predict the probability of Nova Technology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nova Technology's price. Additionally, you may evaluate how the addition of Nova Technology to your portfolios can decrease your overall portfolio volatility.