Nextracker Class A Stock Market Value
| NXT Stock | 58.06 2.41 4.33% |
| Symbol | Nextracker |
Nextracker Class A Price To Book Ratio
Is Electrical Components & Equipment 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 Nextracker. If investors know Nextracker 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 Nextracker 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 59.24 | Earnings Share 3.37 | Revenue Per Share 32.437 | Quarterly Revenue Growth 0.421 | Return On Assets 0.1863 |
The market value of Nextracker Class A is measured differently than its book value, which is the value of Nextracker that is recorded on the company's balance sheet. Investors also form their own opinion of Nextracker's value that differs from its market value or its book value, called intrinsic value, which is Nextracker'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 Nextracker's market value can be influenced by many factors that don't directly affect Nextracker'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 Nextracker's value and its price as these two are different measures arrived at by different means. Investors typically determine if Nextracker is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Nextracker'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.
Nextracker '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 Nextracker'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 Nextracker.
| 04/11/2024 |
| 06/10/2024 |
If you would invest 0.00 in Nextracker on April 11, 2024 and sell it all today you would earn a total of 0.00 from holding Nextracker Class A or generate 0.0% return on investment in Nextracker over 60 days. Nextracker is related to or competes with Canadian Solar, Maxeon Solar, SunPower, SolarEdge Technologies, Sunnova Energy, Sunrun, and First Solar. Nextracker is entity of United States. It is traded as Stock on NASDAQ exchange. More
Nextracker 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 Nextracker'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 Nextracker Class A upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 17.55 | |||
| Value At Risk | (4.98) | |||
| Potential Upside | 5.97 |
Nextracker Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nextracker's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nextracker's standard deviation. In reality, there are many statistical measures that can use Nextracker historical prices to predict the future Nextracker's volatility.| Risk Adjusted Performance | 0.0045 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.07) | |||
| Treynor Ratio | (0.02) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nextracker'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.
Nextracker Class A Backtested Returns
Nextracker Class A has Sharpe Ratio of -0.0191, which conveys that the firm had a -0.0191% return per unit of risk over the last 3 months. Nextracker exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nextracker's Standard Deviation of 3.39, mean deviation of 2.28, and Risk Adjusted Performance of 0.0045 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 1.82, 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, Nextracker will likely underperform. At this point, Nextracker Class A has a negative expected return of -0.0661%. Please make sure to verify Nextracker's potential upside and day median price , to decide if Nextracker Class A performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.4 |
Poor reverse predictability
Nextracker Class A has poor reverse predictability. Overlapping area represents the amount of predictability between Nextracker time series from 11th of April 2024 to 11th of May 2024 and 11th of May 2024 to 10th of June 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 Nextracker Class A price movement. The serial correlation of -0.4 indicates that just about 40.0% of current Nextracker price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.4 | |
| Spearman Rank Test | -0.4 | |
| Residual Average | 0.0 | |
| Price Variance | 29.03 |
Nextracker Class A lagged returns against current returns
Autocorrelation, which is Nextracker 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 Nextracker's stock expected returns. We can calculate the autocorrelation of Nextracker returns to help us make a trade decision. For example, suppose you find that Nextracker 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 |
Nextracker 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 Nextracker stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nextracker stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nextracker stock over time.
Current vs Lagged Prices |
| Timeline |
Nextracker Lagged Returns
When evaluating Nextracker's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nextracker stock have on its future price. Nextracker 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, Nextracker autocorrelation shows the relationship between Nextracker stock current value and its past values and can show if there is a momentum factor associated with investing in Nextracker Class A.
Regressed Prices |
| Timeline |
Pair Trading with Nextracker
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Nextracker position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Nextracker will appreciate offsetting losses from the drop in the long position's value.Moving together with Nextracker Stock
Moving against Nextracker Stock
| 0.6 | IGC | India Globalization | PairCorr |
| 0.48 | MMM | 3M Company Financial Report 23rd of July 2024 | PairCorr |
| 0.45 | FIP | FTAI Infrastructure | PairCorr |
| 0.43 | WAB | Westinghouse Air Brake | PairCorr |
| 0.38 | GBX | Greenbrier Companies Financial Report 4th of July 2024 | PairCorr |
The ability to find closely correlated positions to Nextracker could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nextracker when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Nextracker - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Nextracker Class A to buy it.
The correlation of Nextracker is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nextracker moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nextracker Class A moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Nextracker can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Nextracker Stock Analysis
When running Nextracker's price analysis, check to measure Nextracker'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 Nextracker is operating at the current time. Most of Nextracker's value examination focuses on studying past and present price action to predict the probability of Nextracker's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nextracker's price. Additionally, you may evaluate how the addition of Nextracker to your portfolios can decrease your overall portfolio volatility.