Bharat Immunologicals Backtested Returns
Macroaxis considers Bharat Immunologicals to be not very risky. Bharat Immunologicals
secures Sharpe Ratio (or Efficiency) of -0.0824 which signifies that Bharat Immunologicals
had -0.0824% of return per unit of standard deviation over the last 1 month. Macroaxis philosophy in foreseeing risk of any stock is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators
. Bharat Immunologicals Biologicals Corp Ltd exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to confirm Bharat Immunologicals Mean Deviation
of 1.35 and Risk Adjusted Performance
of (0.034712) to double-check risk estimate we provide. Macroaxis gives Bharat Immunologicals performance score of 0 on a scale of 0 to 100. The firm shows Beta (market volatility) of -0.069 which signifies that as returns on market increase, returns on owning Bharat Immunologicals are expected to decrease at a much smaller rate. During bear market, Bharat Immunologicals is likely to outperform the market.. Even though it is essential to pay attention to Bharat Immunologicals historical returns, it is always good to be careful when utilizing equity current trending patterns. Macroaxis philosophy in foreseeing future performance of any stock is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. Bharat Immunologicals Biologicals Corp Ltd exposes twenty-one different technical indicators which can help you to evaluate its performance. Bharat Immunologicals has expected return of -0.1668%. Please be advised to confirm Bharat Immunologicals Jensen Alpha, Semi Variance and the relationship between Standard Deviation and Value At Risk to decide if Bharat Immunologicals past performance will be repeated at some point in the near future.
|15 days auto-correlation||(0.42) |
Modest reverse predictability
Bharat Immunologicals Biologicals Corp Ltd has modest reverse predictability. Overlapping area represents the amount of predictability between Bharat Immunologicals time series from October 21, 2017 to November 5, 2017 and November 5, 2017 to November 20, 2017. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Bharat Immunologicals price movement. The serial correlation of -0.42 indicates that just about 42.0% of current Bharat Immunologicals price fluctuation can be explain by its past prices. Given that Bharat Immunologicals Biologicals Corp Ltd has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Bharat Immunologicals for similar time interval.
|Correlation Coefficient|| -0.42|
|Spearman Rank Test|| -0.68|
|Price Variance|| 0.32|
|Lagged Price Variance|| 0.26|
Bharat Immunologicals Lagged Returns