Nova (Israel) Market Value
| NVMI Stock | ILA 89,810 4,170 4.44% |
| Symbol | Nova |
Nova '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'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.
| 01/27/2025 |
| 02/26/2025 |
If you would invest 0.00 in Nova on January 27, 2025 and sell it all today you would earn a total of 0.00 from holding Nova or generate 0.0% return on investment in Nova over 30 days. Nova is related to or competes with Tower Semiconductor, Nice, Elbit Systems, Camtek, and Sapiens International. Nova Measuring Instruments Ltd. designs, develops, produces, and sells process control systems used in the manufacture o... More
Nova 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'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 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.45 | |||
| Information Ratio | 0.1153 | |||
| Maximum Drawdown | 18.56 | |||
| Value At Risk | (5.62) | |||
| Potential Upside | 5.7 |
Nova Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nova's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nova's standard deviation. In reality, there are many statistical measures that can use Nova historical prices to predict the future Nova's volatility.| Risk Adjusted Performance | 0.0957 | |||
| Jensen Alpha | 0.4315 | |||
| Total Risk Alpha | 0.4062 | |||
| Sortino Ratio | 0.1237 | |||
| Treynor Ratio | (5.98) |
Nova Backtested Returns
Nova appears to be very steady, given 3 months investment horizon. Nova has Sharpe Ratio of 0.19, which conveys that the firm had a 0.19 % return per unit of risk over the last 3 months. By analyzing Nova's technical indicators, you can evaluate if the expected return of 0.71% is justified by implied risk. Please exercise Nova's Risk Adjusted Performance of 0.0957, mean deviation of 2.77, and Downside Deviation of 3.45 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Nova holds a performance score of 15. The company secures a Beta (Market Risk) of -0.0721, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nova are expected to decrease at a much lower rate. During the bear market, Nova is likely to outperform the market. Please check Nova's value at risk, downside variance, and the relationship between the maximum drawdown and potential upside , to make a quick decision on whether Nova's current price movements will revert.
Auto-correlation | 0.23 |
Weak predictability
Nova has weak predictability. Overlapping area represents the amount of predictability between Nova time series from 27th of January 2025 to 11th of February 2025 and 11th of February 2025 to 26th 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 price movement. The serial correlation of 0.23 indicates that over 23.0% of current Nova price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.23 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 16.6 M |
Nova lagged returns against current returns
Autocorrelation, which is Nova 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's stock expected returns. We can calculate the autocorrelation of Nova returns to help us make a trade decision. For example, suppose you find that Nova 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 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 stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nova stock over time.
Current vs Lagged Prices |
| Timeline |
Nova Lagged Returns
When evaluating Nova's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nova stock have on its future price. Nova 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 autocorrelation shows the relationship between Nova stock current value and its past values and can show if there is a momentum factor associated with investing in Nova.
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.Additional Information and Resources on Investing in Nova Stock
When determining whether Nova offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Nova's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Nova Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Nova Stock:Check out Nova Correlation, Nova Volatility and Nova Alpha and Beta module to complement your research on Nova. For information on how to trade Nova Stock refer to our How to Trade Nova Stock guide.You can also try the Transaction History module to view history of all your transactions and understand their impact on performance.
Nova technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.