Novocure Stock Market Value
| NVCR Stock | USD 19.69 1.81 10.12% |
| Symbol | Novocure |
Novocure Price To Book Ratio
Is Health Care Equipment & Supplies space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Novocure. If investors know Novocure will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Novocure listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.06) | Earnings Share (1.39) | Revenue Per Share 5.375 | Quarterly Revenue Growth 0.218 | Return On Assets (0.08) |
The market value of Novocure is measured differently than its book value, which is the value of Novocure that is recorded on the company's balance sheet. Investors also form their own opinion of Novocure's value that differs from its market value or its book value, called intrinsic value, which is Novocure's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Novocure's market value can be influenced by many factors that don't directly affect Novocure's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Novocure's value and its price as these two are different measures arrived at by different means. Investors typically determine if Novocure is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Novocure's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Novocure '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 Novocure'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 Novocure.
| 09/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Novocure on September 29, 2024 and sell it all today you would earn a total of 0.00 from holding Novocure or generate 0.0% return on investment in Novocure over 60 days. Novocure is related to or competes with Globus Medical, Insulet, Inspire Medical, Inari Medical, TransMedics, InMode, and Integer Holdings. NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating ... More
Novocure 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 Novocure'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 Novocure upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.86 | |||
| Information Ratio | 0.025 | |||
| Maximum Drawdown | 23.45 | |||
| Value At Risk | (6.48) | |||
| Potential Upside | 8.9 |
Novocure Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Novocure's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Novocure's standard deviation. In reality, there are many statistical measures that can use Novocure historical prices to predict the future Novocure's volatility.| Risk Adjusted Performance | 0.0485 | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.46) | |||
| Sortino Ratio | 0.0236 | |||
| Treynor Ratio | 0.1026 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Novocure'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.
Novocure Backtested Returns
Currently, Novocure is not too volatile. Novocure has Sharpe Ratio of 0.027, which conveys that the firm had a 0.027% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Novocure, which you can use to evaluate the volatility of the firm. Please verify Novocure's Downside Deviation of 4.86, mean deviation of 3.26, and Risk Adjusted Performance of 0.0485 to check out if the risk estimate we provide is consistent with the expected return of 0.12%. Novocure has a performance score of 2 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 2.24, which conveys a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Novocure will likely underperform. Novocure right now secures a risk of 4.54%. Please verify Novocure downside variance, as well as the relationship between the accumulation distribution and market facilitation index , to decide if Novocure will be following its current price movements.
Auto-correlation | 0.14 |
Insignificant predictability
Novocure has insignificant predictability. Overlapping area represents the amount of predictability between Novocure time series from 29th of September 2024 to 29th of October 2024 and 29th of October 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 Novocure price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Novocure price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.14 | |
| Spearman Rank Test | 0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 1.03 |
Novocure lagged returns against current returns
Autocorrelation, which is Novocure 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 Novocure's stock expected returns. We can calculate the autocorrelation of Novocure returns to help us make a trade decision. For example, suppose you find that Novocure 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 |
Novocure 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 Novocure stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Novocure stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Novocure stock over time.
Current vs Lagged Prices |
| Timeline |
Novocure Lagged Returns
When evaluating Novocure's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Novocure stock have on its future price. Novocure 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, Novocure autocorrelation shows the relationship between Novocure stock current value and its past values and can show if there is a momentum factor associated with investing in Novocure.
Regressed Prices |
| Timeline |
Additional Tools for Novocure Stock Analysis
When running Novocure's price analysis, check to measure Novocure'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 Novocure is operating at the current time. Most of Novocure's value examination focuses on studying past and present price action to predict the probability of Novocure's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Novocure's price. Additionally, you may evaluate how the addition of Novocure to your portfolios can decrease your overall portfolio volatility.