Hecla Mining Backtested Returns
Macroaxis considers Hecla Mining to be extremely risky. Hecla Mining
holds Efficiency (Sharpe) Ratio of -0.0023 which attests that Hecla Mining
had -0.0023% of return per unit of risk over the last 1 month. Macroaxis philosophy towards determining 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
. Hecla Mining exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to check out Hecla Mining Market Risk Adjusted Performance
of 0.034385 and Risk Adjusted Performance of 0.0053 to validate risk estimate we provide. Macroaxis gives Hecla Mining performance score of 0 on a scale of 0 to 100. The company retains Market Volatility (i.e. Beta) of 0.4497 which attests that as returns on market increase, Hecla Mining returns are expected to increase less than the market. However during bear market, the loss on holding Hecla Mining will be expected to be smaller as well.. Even though it is essential to pay attention to Hecla Mining current price history, it is always good to be careful when utilizing equity current price movements. Macroaxis philosophy towards determining 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. Hecla Mining exposes twenty-one different technical indicators which can help you to evaluate its performance. Hecla Mining has expected return of -0.01%. Please be advised to check out Hecla Mining Jensen Alpha, and the relationship between Coefficient Of Variation and Potential Upside to decide if Hecla Mining past performance will be repeated at some point in the near future.
|15 days auto-correlation|| 0.04 |
Virtually no predictability
Hecla Mining Company has virtually no predictability. Overlapping area represents the amount of predictability between Hecla Mining time series from February 22, 2018 to March 9, 2018 and March 9, 2018 to March 24, 2018. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Hecla Mining price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current Hecla Mining price fluctuation can be explain by its past prices.
|Correlation Coefficient|| 0.04|
|Spearman Rank Test|| -0.16|
|Price Variance|| 0.06|
|Lagged Price Variance|| 0.01|
Hecla Mining Lagged Returns