Nova Minerals Total Risk Alpha
| NVAWW Stock | | | 28.00 0.00 0.00% |
This module presents the Total Risk Alpha indicator for Nova Minerals Limited using available market inputs. Exchange-specific data schedules may affect the recency of readings. Nova Minerals has ROE of -15.56%. See
Correlation Analysis for additional portfolio context. The view frames allocation within the broader portfolio. This reflects a position in Nova Minerals Limited. This is situated within the portfolio mix. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in small area income & poverty estimates.
Nova Minerals Limited has current Total Risk Alpha of 1.7. The total risk alpha measures the performance of an asset by comparing its returns with those of a selected benchmark portfolio.
Total Risk Alpha | = | RFR + (ER[b] - ER[a]) | x | STD[a] / STD[b] |
| = | 1.7 | |
| ER[a] | = | Expected return on investing in Nova Minerals |
| ER[b] | = | Expected return on market index or selected benchmark |
| STD[a] | = | Standard Deviation of returns on Nova Minerals |
| STD[b] | = | Standard Deviation of selected market or benchmark |
| RFR | = | Risk Free Rate of return. Typically T-Bill Rate |
Total Risk Alpha Peers Comparison
Total Risk Alpha Relative To Other Indicators
Nova Minerals Limited falls in the
third position for total risk alpha across the peer group. It is currently under evaluation for maximum drawdown across the peer group reflecting a
42.18 ratio of Maximum Drawdown to Total Risk Alpha. Nova Minerals Limited's Maximum Drawdown exceeds Total Risk Alpha by a factor of
42.18 The benchmark portfolio represents the market risk matched to the total risk of the stock ETF or fund.
Compare Nova Minerals to Peers
Other Technical Indicators