Nova Leap Health Stock Market Value
| NLH Stock | CAD 0.24 0.03 11.11% |
| Symbol | Nova |
Nova Leap '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 Leap'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 Leap.
| 10/22/2024 |
| 02/19/2025 |
If you would invest 0.00 in Nova Leap on October 22, 2024 and sell it all today you would earn a total of 0.00 from holding Nova Leap Health or generate 0.0% return on investment in Nova Leap over 120 days. Nova Leap is related to or competes with Reliq Health, NeuPath Health, and Bewhere Holdings. Nova Leap Health Corp. provides personal home care and support services in the United States and Canada More
Nova Leap 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 Leap'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 Leap Health upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.52 | |||
| Information Ratio | 0.047 | |||
| Maximum Drawdown | 22.71 | |||
| Value At Risk | (3.85) | |||
| Potential Upside | 4.17 |
Nova Leap Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nova Leap's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nova Leap's standard deviation. In reality, there are many statistical measures that can use Nova Leap historical prices to predict the future Nova Leap's volatility.| Risk Adjusted Performance | 0.0461 | |||
| Jensen Alpha | 0.1902 | |||
| Total Risk Alpha | 0.1004 | |||
| Sortino Ratio | 0.0244 | |||
| Treynor Ratio | (0.17) |
Nova Leap Health Backtested Returns
At this stage we consider Nova Stock to be out of control. Nova Leap Health has Sharpe Ratio of 0.0545, which conveys that the firm had a 0.0545 % return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Nova Leap, which you can use to evaluate the volatility of the firm. Please verify Nova Leap's Risk Adjusted Performance of 0.0461, downside deviation of 6.52, and Mean Deviation of 1.79 to check out if the risk estimate we provide is consistent with the expected return of 0.18%. Nova Leap has a performance score of 4 on a scale of 0 to 100. The company secures a Beta (Market Risk) of -1.03, which conveys a somewhat significant risk relative to the market. As the market becomes more bullish, returns on owning Nova Leap are expected to decrease slowly. On the other hand, during market turmoil, Nova Leap is expected to outperform it slightly. Nova Leap Health right now secures a risk of 3.38%. Please verify Nova Leap Health potential upside and the relationship between the skewness and period momentum indicator , to decide if Nova Leap Health will be following its current price movements.
Auto-correlation | 0.62 |
Good predictability
Nova Leap Health has good predictability. Overlapping area represents the amount of predictability between Nova Leap time series from 22nd of October 2024 to 21st of December 2024 and 21st of December 2024 to 19th of February 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 Leap Health price movement. The serial correlation of 0.62 indicates that roughly 62.0% of current Nova Leap price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.62 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Nova Leap Health lagged returns against current returns
Autocorrelation, which is Nova Leap 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 Leap's stock expected returns. We can calculate the autocorrelation of Nova Leap returns to help us make a trade decision. For example, suppose you find that Nova Leap 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 Leap 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 Leap stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova Leap stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nova Leap stock over time.
Current vs Lagged Prices |
| Timeline |
Nova Leap Lagged Returns
When evaluating Nova Leap's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nova Leap stock have on its future price. Nova Leap 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 Leap autocorrelation shows the relationship between Nova Leap stock current value and its past values and can show if there is a momentum factor associated with investing in Nova Leap Health.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Nova Stock Analysis
When running Nova Leap's price analysis, check to measure Nova Leap'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 Leap is operating at the current time. Most of Nova Leap's value examination focuses on studying past and present price action to predict the probability of Nova Leap'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 Leap's price. Additionally, you may evaluate how the addition of Nova Leap to your portfolios can decrease your overall portfolio volatility.