Hecla Mining Backtested Returns
Macroaxis considers Hecla Mining unusually risky given 1 month investment horizon. Hecla Mining
holds Efficiency (Sharpe) Ratio of 0.213 which attests that Hecla Mining
had 0.213% of return per unit of risk over the last 1 month. Our philosophy towards determining volatility of a stock is to use all available market data together with company specific technical indicators
that cannot be diversified away. By evaluating Hecla Mining technical indicators
you can presently evaluate if the expected return of 0.6136% is justified by implied risk. Please utilize Hecla Mining Downside Deviation
of 2.25, Market Risk Adjusted Performance
of (0.17) and Risk Adjusted Performance of 0.1035 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100 Hecla Mining holds performance score of 14. The company retains Market Volatility (i.e. Beta) of -3.6238 which attests that as returns on market increase, returns on owning Hecla Mining are expected to decrease by larger amounts. On the other hand, during market turmoil, Hecla Mining is expected to significantly outperform it.. Although it is vital to follow to Hecla Mining current price history, it is good to be conservative about what you can actually do with the information regarding equity current price movements. The philosophy towards determining future performance of any stock is to evaluate the business as a whole together with its past performance including all available fundamental and technical indicators. We have found twenty-one technical indicators for Hecla Mining which you can use to evaluate performance of the corporation. Please utilizes Hecla Mining Jensen Alpha, and the relationship between Coefficient Of Variation and Potential Upside to make a quick decision on weather Hecla Mining Company current trending patterns will revert.
|15 days auto-correlation|| 0.13 |
Hecla Mining Company has insignificant predictability. Overlapping area represents the amount of predictability between Hecla Mining time series from December 18, 2017 to January 2, 2018 and January 2, 2018 to January 17, 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 0.13 indicates that less than 13.0% of current Hecla Mining price fluctuation can be explain by its past prices.
|Correlation Coefficient|| 0.13|
|Spearman Rank Test|| 0.05|
|Price Variance|| 0.03|
|Lagged Price Variance|| 0.01|
Hecla Mining Lagged Returns