Hecla Mining Backtested Returns
Macroaxis considers Hecla Mining to be relatively volatile. Hecla Mining
holds Efficiency (Sharpe) Ratio of -0.0551 which attests that Hecla Mining
had -0.0551% 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-eight 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 0.1356 and Risk Adjusted Performance
of (0.004751) 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 -0.6969 which attests that as returns on market increase, returns on owning Hecla Mining are expected to decrease at a much smaller rate. During bear market, Hecla Mining is likely to outperform the market.. 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-eight different technical indicators which can help you to evaluate its performance. Hecla Mining has expected return of -0.0905%. Please be advised to check out Hecla Mining Potential Upside, Rate Of Daily Change and the relationship between Sortino Ratio and Skewness to decide if Hecla Mining past performance will be repeated at some point in the near future.
|15 days auto-correlation||(0.81) |
Excellent reverse predictability
Hecla Mining Company has excellent reverse predictability. Overlapping area represents the amount of predictability between Hecla Mining time series from September 24, 2017 to October 9, 2017 and October 9, 2017 to October 24, 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 Hecla Mining price movement. The serial correlation of -0.81 indicates that around 81.0% of current Hecla Mining price fluctuation can be explain by its past prices. Given that Hecla Mining Company has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Hecla Mining for similar time interval.
|Correlation Coefficient|| -0.81|
|Spearman Rank Test|| -0.72|
|Price Variance|| 0.01|
|Lagged Price Variance|| 0.02|
Hecla Mining Lagged Returns