Novelis Corp 475 Market Value
| 670001AE6 | 92.17 1.76 1.87% |
| Symbol | Novelis |
Novelis '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 Novelis' bond 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 Novelis.
| 11/16/2024 |
| 12/16/2024 |
If you would invest 0.00 in Novelis on November 16, 2024 and sell it all today you would earn a total of 0.00 from holding Novelis Corp 475 or generate 0.0% return on investment in Novelis over 30 days. Novelis is related to or competes with Lincoln Educational, 51Talk Online, VirnetX Holding, Cadence Design, John Wiley, Bill, and Pearson PLC. More
Novelis 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 Novelis' bond 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 Novelis Corp 475 upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 8.95 | |||
| Value At Risk | (1.07) | |||
| Potential Upside | 0.5305 |
Novelis Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Novelis' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Novelis' standard deviation. In reality, there are many statistical measures that can use Novelis historical prices to predict the future Novelis' volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.23) | |||
| Treynor Ratio | (1.50) |
Novelis Corp 475 Backtested Returns
Novelis Corp 475 has Sharpe Ratio of -0.22, which conveys that the entity had a -0.22% return per unit of risk over the last 3 months. Novelis exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Novelis' Mean Deviation of 0.5381, standard deviation of 1.27, and Risk Adjusted Performance of (0.03) to check out the risk estimate we provide. The bond secures a Beta (Market Risk) of 0.0468, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Novelis' returns are expected to increase less than the market. However, during the bear market, the loss of holding Novelis is expected to be smaller as well.
Auto-correlation | -0.16 |
Insignificant reverse predictability
Novelis Corp 475 has insignificant reverse predictability. Overlapping area represents the amount of predictability between Novelis time series from 16th of November 2024 to 1st of December 2024 and 1st of December 2024 to 16th 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 Novelis Corp 475 price movement. The serial correlation of -0.16 indicates that over 16.0% of current Novelis price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.16 | |
| Spearman Rank Test | -0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.11 |
Novelis Corp 475 lagged returns against current returns
Autocorrelation, which is Novelis bond'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 Novelis' bond expected returns. We can calculate the autocorrelation of Novelis returns to help us make a trade decision. For example, suppose you find that Novelis has exhibited high autocorrelation historically, and you observe that the bond 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 |
Novelis 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 Novelis bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Novelis bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Novelis bond over time.
Current vs Lagged Prices |
| Timeline |
Novelis Lagged Returns
When evaluating Novelis' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Novelis bond have on its future price. Novelis 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, Novelis autocorrelation shows the relationship between Novelis bond current value and its past values and can show if there is a momentum factor associated with investing in Novelis Corp 475.
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.Other Information on Investing in Novelis Bond
Novelis financial ratios help investors to determine whether Novelis Bond 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 Novelis with respect to the benefits of owning Novelis security.