Novagold Resources Stock Market Value
| NG Stock | USD 2.93 0.12 4.27% |
| Symbol | NovaGold |
NovaGold Resources Price To Book Ratio
Is NovaGold Resources' industry 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 NovaGold Resources. If investors know NovaGold 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 NovaGold Resources listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.14) | Return On Assets (0.10) | Return On Equity (17.91) |
The market value of NovaGold Resources is measured differently than its book value, which is the value of NovaGold that is recorded on the company's balance sheet. Investors also form their own opinion of NovaGold Resources' value that differs from its market value or its book value, called intrinsic value, which is NovaGold Resources' 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 NovaGold Resources' market value can be influenced by many factors that don't directly affect NovaGold Resources' 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 NovaGold Resources' value and its price as these two are different measures arrived at by different means. Investors typically determine if NovaGold Resources is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NovaGold Resources' 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.
NovaGold Resources '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 NovaGold Resources' 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 NovaGold Resources.
| 02/24/2024 |
| 04/24/2024 |
If you would invest 0.00 in NovaGold Resources on February 24, 2024 and sell it all today you would earn a total of 0.00 from holding NovaGold Resources or generate 0.0% return on investment in NovaGold Resources over 60 days. NovaGold Resources is related to or competes with Wheaton Precious, Royal Gold, Fortuna Silver, Agnico Eagle, Sandstorm Gold, Gold Fields, and SSR Mining. NovaGold Resources Inc. explores for and develops gold mineral properties in the United States More
NovaGold Resources 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 NovaGold Resources' 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 NovaGold Resources upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 18.05 | |||
| Value At Risk | (6.42) | |||
| Potential Upside | 6.18 |
NovaGold Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NovaGold Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NovaGold Resources' standard deviation. In reality, there are many statistical measures that can use NovaGold Resources historical prices to predict the future NovaGold Resources' volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.75) | |||
| Treynor Ratio | (7.37) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of NovaGold Resources' 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.
NovaGold Resources Backtested Returns
We consider NovaGold Resources very risky. NovaGold Resources has Sharpe Ratio of 0.0138, which conveys that the firm had a 0.0138% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for NovaGold Resources, which you can use to evaluate the volatility of the firm. Please verify NovaGold Resources' Standard Deviation of 4.05, mean deviation of 3.16, and Risk Adjusted Performance of (0.02) to check out if the risk estimate we provide is consistent with the expected return of 0.0536%. NovaGold Resources has a performance score of 1 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.0268, which conveys not very significant fluctuations relative to the market. As returns on the market increase, NovaGold Resources' returns are expected to increase less than the market. However, during the bear market, the loss of holding NovaGold Resources is expected to be smaller as well. NovaGold Resources right now secures a risk of 3.89%. Please verify NovaGold Resources accumulation distribution, as well as the relationship between the day typical price and relative strength index , to decide if NovaGold Resources will be following its current price movements.
Auto-correlation | 0.53 |
Modest predictability
NovaGold Resources has modest predictability. Overlapping area represents the amount of predictability between NovaGold Resources time series from 24th of February 2024 to 25th of March 2024 and 25th of March 2024 to 24th of April 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 NovaGold Resources price movement. The serial correlation of 0.53 indicates that about 53.0% of current NovaGold Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | 0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
NovaGold Resources lagged returns against current returns
Autocorrelation, which is NovaGold Resources 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 NovaGold Resources' stock expected returns. We can calculate the autocorrelation of NovaGold Resources returns to help us make a trade decision. For example, suppose you find that NovaGold Resources 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 |
NovaGold Resources 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 NovaGold Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NovaGold Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NovaGold Resources stock over time.
Current vs Lagged Prices |
| Timeline |
NovaGold Resources Lagged Returns
When evaluating NovaGold Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NovaGold Resources stock have on its future price. NovaGold Resources 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, NovaGold Resources autocorrelation shows the relationship between NovaGold Resources stock current value and its past values and can show if there is a momentum factor associated with investing in NovaGold Resources.
Regressed Prices |
| Timeline |
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Try AI Portfolio ArchitectCheck out NovaGold Resources Correlation, NovaGold Resources Volatility and NovaGold Resources Alpha and Beta module to complement your research on NovaGold Resources. For more detail on how to invest in NovaGold Stock please use our How to Invest in NovaGold Resources guide.Note that the NovaGold Resources information on this page should be used as a complementary analysis to other NovaGold Resources' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.
Complementary Tools for NovaGold Stock analysis
When running NovaGold Resources' price analysis, check to measure NovaGold Resources' 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 NovaGold Resources is operating at the current time. Most of NovaGold Resources' value examination focuses on studying past and present price action to predict the probability of NovaGold Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NovaGold Resources' price. Additionally, you may evaluate how the addition of NovaGold Resources to your portfolios can decrease your overall portfolio volatility.
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NovaGold Resources 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.