Macroaxis considers Parex Resources to be relatively volatile. Parex Resources
maintains Sharpe Ratio (i.e. Efficiency) of -0.2694 which implies Parex Resources
had -0.2694% of return per unit of risk over the last 1 month. Macroaxis philosophy towards forecasting 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
. Parex Resources exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to check Parex Resources Coefficient Of Variation
of 362.78 and Risk Adjusted Performance of 0.12 to confirm risk estimate we provide. Macroaxis gives Parex Resources performance score of 0 on a scale of 0 to 100. The organization holds Beta of 0.4842 which implies as returns on market increase, Parex Resources returns are expected to increase less than the market. However during bear market, the loss on holding Parex Resources will be expected to be smaller as well.. Even though it is essential to pay attention to Parex Resources current trending patterns, it is always good to be careful when utilizing equity existing price patterns. Macroaxis philosophy towards forecasting 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. Parex Resources exposes twenty-one different technical indicators which can help you to evaluate its performance. Parex Resources has expected return of -1.2034%. Please be advised to check Parex Resources Information Ratio, Value At Risk as well as the relationship between Value At Risk and Expected Short fall to decide if Parex Resources past performance will be repeated at some point in the near future.
|15 days auto-correlation|| 0.53 |
Parex Resources has modest predictability. Overlapping area represents the amount of predictability between Parex Resources time series from July 17, 2018 to August 1, 2018 and August 1, 2018 to August 16, 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 Parex Resources price movement. The serial correlation of 0.53 indicates that about 53.0% of current Parex Resources price fluctuation can be explain by its past prices.
|Correlation Coefficient|| 0.53|
|Spearman Rank Test|| 0.15|
|Price Variance|| 2.29|
|Lagged Price Variance|| 1.13|