Novaccess Global Stock Market Value
| XSNX Stock | USD 0.01 0.00 0.00% |
| Symbol | NovAccess |
NovAccess Global '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 NovAccess Global'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 NovAccess Global.
| 12/17/2023 |
| 12/11/2024 |
If you would invest 0.00 in NovAccess Global on December 17, 2023 and sell it all today you would earn a total of 0.00 from holding NovAccess Global or generate 0.0% return on investment in NovAccess Global over 360 days. NovAccess Global is related to or competes with Novo Nordisk, Cellectis, Covalon Technologies, Mosaic Immunoengineerin, Genenta Science, Lumos Pharma, and Marker Therapeutics. NovAccess Global Inc., a biopharmaceutical company, develops novel immunotherapies to treat brain tumor patients in the ... More
NovAccess Global 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 NovAccess Global'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 NovAccess Global upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 26.45 | |||
| Information Ratio | 0.1051 | |||
| Maximum Drawdown | 206.94 | |||
| Value At Risk | (31.43) | |||
| Potential Upside | 44.0 |
NovAccess Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NovAccess Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NovAccess Global's standard deviation. In reality, there are many statistical measures that can use NovAccess Global historical prices to predict the future NovAccess Global's volatility.| Risk Adjusted Performance | 0.0889 | |||
| Jensen Alpha | 2.92 | |||
| Total Risk Alpha | (1.36) | |||
| Sortino Ratio | 0.11 | |||
| Treynor Ratio | 3.19 |
NovAccess Global Backtested Returns
NovAccess Global is out of control given 3 months investment horizon. NovAccess Global has Sharpe Ratio of 0.0722, which conveys that the firm had a 0.0722% return per unit of risk over the last 3 months. We were able to interpolate twenty-five different technical indicators, which can help you to evaluate if expected returns of 1.97% are justified by taking the suggested risk. Use NovAccess Global Risk Adjusted Performance of 0.0889, mean deviation of 13.71, and Downside Deviation of 26.45 to evaluate company specific risk that cannot be diversified away. NovAccess Global holds a performance score of 5 on a scale of zero to a hundred. The company secures a Beta (Market Risk) of 0.95, which conveys possible diversification benefits within a given portfolio. NovAccess Global returns are very sensitive to returns on the market. As the market goes up or down, NovAccess Global is expected to follow. Use NovAccess Global treynor ratio, expected short fall, as well as the relationship between the Expected Short fall and relative strength index , to analyze future returns on NovAccess Global.
Auto-correlation | 0.37 |
Below average predictability
NovAccess Global has below average predictability. Overlapping area represents the amount of predictability between NovAccess Global time series from 17th of December 2023 to 14th of June 2024 and 14th of June 2024 to 11th 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 NovAccess Global price movement. The serial correlation of 0.37 indicates that just about 37.0% of current NovAccess Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.37 | |
| Spearman Rank Test | 0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
NovAccess Global lagged returns against current returns
Autocorrelation, which is NovAccess Global 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 NovAccess Global's pink sheet expected returns. We can calculate the autocorrelation of NovAccess Global returns to help us make a trade decision. For example, suppose you find that NovAccess Global 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 |
NovAccess Global 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 NovAccess Global pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NovAccess Global pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NovAccess Global pink sheet over time.
Current vs Lagged Prices |
| Timeline |
NovAccess Global Lagged Returns
When evaluating NovAccess Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NovAccess Global pink sheet have on its future price. NovAccess Global 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, NovAccess Global autocorrelation shows the relationship between NovAccess Global pink sheet current value and its past values and can show if there is a momentum factor associated with investing in NovAccess Global.
Regressed Prices |
| Timeline |
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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 Tools for NovAccess Pink Sheet Analysis
When running NovAccess Global's price analysis, check to measure NovAccess Global'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 NovAccess Global is operating at the current time. Most of NovAccess Global's value examination focuses on studying past and present price action to predict the probability of NovAccess Global's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NovAccess Global's price. Additionally, you may evaluate how the addition of NovAccess Global to your portfolios can decrease your overall portfolio volatility.