Nova Eye (Australia) Market Value
| EYE Stock | 0.19 0.01 5.56% |
| Symbol | Nova |
Nova Eye '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 Eye'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 Eye.
| 01/19/2023 |
| 01/08/2025 |
If you would invest 0.00 in Nova Eye on January 19, 2023 and sell it all today you would earn a total of 0.00 from holding Nova Eye Medical or generate 0.0% return on investment in Nova Eye over 720 days. Nova Eye is related to or competes with Audio Pixels, Iodm, Regis Healthcare, and Recce. Nova Eye is entity of Australia. It is traded as Stock on AU exchange. More
Nova Eye 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 Eye'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 Eye Medical upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.9 | |||
| Information Ratio | 0.0247 | |||
| Maximum Drawdown | 26.79 | |||
| Value At Risk | (6.67) | |||
| Potential Upside | 12.5 |
Nova Eye Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nova Eye's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nova Eye's standard deviation. In reality, there are many statistical measures that can use Nova Eye historical prices to predict the future Nova Eye's volatility.| Risk Adjusted Performance | 0.0298 | |||
| Jensen Alpha | 0.134 | |||
| Total Risk Alpha | 0.1386 | |||
| Sortino Ratio | 0.0196 | |||
| Treynor Ratio | (0.09) |
Nova Eye Medical Backtested Returns
Nova Eye appears to be out of control, given 3 months investment horizon. Nova Eye Medical has Sharpe Ratio of 0.0426, which conveys that the firm had a 0.0426% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Nova Eye, which you can use to evaluate the volatility of the firm. Please exercise Nova Eye's Mean Deviation of 3.58, risk adjusted performance of 0.0298, and Downside Deviation of 6.9 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Nova Eye holds a performance score of 3. The company secures a Beta (Market Risk) of -1.5, which conveys a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Nova Eye are expected to decrease by larger amounts. On the other hand, during market turmoil, Nova Eye is expected to outperform it. Please check Nova Eye's maximum drawdown, potential upside, and the relationship between the treynor ratio and value at risk , to make a quick decision on whether Nova Eye's current price movements will revert.
Auto-correlation | 0.67 |
Good predictability
Nova Eye Medical has good predictability. Overlapping area represents the amount of predictability between Nova Eye time series from 19th of January 2023 to 14th of January 2024 and 14th of January 2024 to 8th 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 Nova Eye Medical price movement. The serial correlation of 0.67 indicates that around 67.0% of current Nova Eye price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Nova Eye Medical lagged returns against current returns
Autocorrelation, which is Nova Eye 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 Eye's stock expected returns. We can calculate the autocorrelation of Nova Eye returns to help us make a trade decision. For example, suppose you find that Nova Eye 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 Eye 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 Eye stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova Eye stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nova Eye stock over time.
Current vs Lagged Prices |
| Timeline |
Nova Eye Lagged Returns
When evaluating Nova Eye's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nova Eye stock have on its future price. Nova Eye 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 Eye autocorrelation shows the relationship between Nova Eye stock current value and its past values and can show if there is a momentum factor associated with investing in Nova Eye Medical.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Nova Stock Analysis
When running Nova Eye's price analysis, check to measure Nova Eye'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 Eye is operating at the current time. Most of Nova Eye's value examination focuses on studying past and present price action to predict the probability of Nova Eye'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 Eye's price. Additionally, you may evaluate how the addition of Nova Eye to your portfolios can decrease your overall portfolio volatility.