Heart rate variability (HRV) is a physiological measurement that can help to monitor and diagnose chronic diseases such as cardiovascular disease, depression, and psychological stress. HRV measurement is commonly extracted from the electrocardiography (ECG). However, ECG has bulky wires where it needs at least three surface electrodes to be placed on the skin. This may cause distraction during the recording and need longer time to setup. Therefore, photoplethysmography (PPG), a simple optical technique, was suggested to obtain heart rate. This study proposes to investigate the effectiveness of PPG recording and derivation of HRV for feature analysis. The PPG signal was preprocessed to remove all the noise and to extract the HRV. HRV features were collected using time-domain analysis (TA), frequency-domain analysis (FA) and nonlinear time-frequency analysis (TFA). Five out of 22 HRV features, which are HR, RMSSD, LF/HF, LFnu, and HFnu, showed high correlation (rho > 0.6 and prho < 0.05) in comparison to standard 5-min excerpt while producing significant difference (p-value < 0.05) during the stressing condition across all interval HRV excerpts. This simple yet accurate PPG recording system perhaps might useful to assess the HRV signal in a short time, and further can be used for the ANS assessment.