Newpark Resources Inc Backtested Returns
Macroaxis considers Newpark Resources to be not very volatile. Newpark Resources Inc
has Sharpe Ratio of -0.1931 which conveys that Newpark Resources Inc
had -0.1931% of return per unit of risk over the last 1 month. Macroaxis philosophy towards estimating 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
. Newpark Resources exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to verify Newpark Resources Inc Mean Deviation
of 1.53 and Risk Adjusted Performance
of (0.012897) to check out risk estimate we provide. Macroaxis gives Newpark Resources performance score of 0 on a scale of 0 to 100. The company secures Beta (Market Risk) of 0.201 which conveys that as returns on market increase, Newpark Resources returns are expected to increase less than the market. However during bear market, the loss on holding Newpark Resources will be expected to be smaller as well.. Even though it is essential to pay attention to Newpark Resources Inc price patterns, it is always good to be careful when utilizing equity historical price patterns. Macroaxis philosophy towards estimating 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. Newpark Resources exposes twenty-one different technical indicators which can help you to evaluate its performance. Newpark Resources Inc has expected return of -0.3322%. Please be advised to verify Newpark Resources Inc Jensen Alpha and Semi Variance to decide if Newpark Resources Inc past performance will be repeated at some point in the near future.
|15 days auto-correlation||(0.18) |
Insignificant reverse predictability
Newpark Resources Inc has insignificant reverse predictability. Overlapping area represents the amount of predictability between Newpark Resources time series from November 17, 2017 to December 2, 2017 and December 2, 2017 to December 17, 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 Newpark Resources Inc price movement. The serial correlation of -0.18 indicates that over 18.0% of current Newpark Resources price fluctuation can be explain by its past prices. Given that Newpark Resources Inc has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Newpark Resources for similar time interval.
|Correlation Coefficient|| -0.18|
|Spearman Rank Test|| -0.16|
|Price Variance|| 0.06|
|Lagged Price Variance|| 0.01|
Newpark Resources Lagged Returns