Novonix Stock Market Value
| NVNXF Stock | USD 0.59 0.09 18.00% |
| Symbol | Novonix |
Novonix '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 Novonix's pink sheet 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 Novonix.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Novonix on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Novonix or generate 0.0% return on investment in Novonix over 30 days. Novonix is related to or competes with Novonix, Flux Power, NeoVolta Common, Espey Mfg, Hayward Holdings, and Advanced Energy. Novonix Limited develops and supplies battery materials, equipment, and services to the lithium-ion battery market in No... More
Novonix 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 Novonix's pink sheet 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 Novonix upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.39 | |||
| Information Ratio | 0.0886 | |||
| Maximum Drawdown | 20.81 | |||
| Value At Risk | (6.00) | |||
| Potential Upside | 10.64 |
Novonix Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Novonix's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Novonix's standard deviation. In reality, there are many statistical measures that can use Novonix historical prices to predict the future Novonix's volatility.| Risk Adjusted Performance | 0.0913 | |||
| Jensen Alpha | 0.623 | |||
| Total Risk Alpha | (0.29) | |||
| Sortino Ratio | 0.1331 | |||
| Treynor Ratio | 1.05 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Novonix's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Novonix Backtested Returns
Novonix appears to be out of control, given 3 months investment horizon. Novonix has Sharpe Ratio of 0.11, which conveys that the firm had a 0.11% return per unit of risk over the last 3 months. By analyzing Novonix's technical indicators, you can evaluate if the expected return of 0.74% is justified by implied risk. Please exercise Novonix's Risk Adjusted Performance of 0.0913, mean deviation of 4.44, and Downside Deviation of 4.39 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Novonix holds a performance score of 8. The company secures a Beta (Market Risk) of 0.67, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Novonix's returns are expected to increase less than the market. However, during the bear market, the loss of holding Novonix is expected to be smaller as well. Please check Novonix's downside variance, as well as the relationship between the accumulation distribution and market facilitation index , to make a quick decision on whether Novonix's current price movements will revert.
Auto-correlation | 0.23 |
Weak predictability
Novonix has weak predictability. Overlapping area represents the amount of predictability between Novonix time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th of November 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 Novonix price movement. The serial correlation of 0.23 indicates that over 23.0% of current Novonix price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.23 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Novonix lagged returns against current returns
Autocorrelation, which is Novonix pink sheet'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 Novonix's pink sheet expected returns. We can calculate the autocorrelation of Novonix returns to help us make a trade decision. For example, suppose you find that Novonix has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Novonix 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 Novonix pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Novonix pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Novonix pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Novonix Lagged Returns
When evaluating Novonix's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Novonix pink sheet have on its future price. Novonix 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, Novonix autocorrelation shows the relationship between Novonix pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Novonix.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Novonix Pink Sheet
Novonix financial ratios help investors to determine whether Novonix Pink Sheet 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 Novonix with respect to the benefits of owning Novonix security.