Macroaxis considers Toronto Dominion to be not too risky. The Toronto Dominion
owns Efficiency Ratio (i.e. Sharpe Ratio) of -0.057 which indicates The Toronto Dominion
had -0.057% of return per unit of risk over the last 1 month. Macroaxis philosophy towards measuring 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
. The Toronto Dominion Bank exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to validate Toronto Dominion Coefficient Of Variation
of 1,719 and Risk Adjusted Performance of 0.039377 to confirm risk estimate we provide. Macroaxis gives Toronto Dominion performance score of 0 on a scale of 0 to 100. The entity has beta of 0.0436 which indicates as returns on market increase, Toronto Dominion returns are expected to increase less than the market. However during bear market, the loss on holding Toronto Dominion will be expected to be smaller as well.. Even though it is essential to pay attention to The Toronto Dominion current price movements, it is always good to be careful when utilizing equity historical returns. Macroaxis philosophy towards measuring 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. The Toronto Dominion Bank exposes twenty-one different technical indicators which can help you to evaluate its performance. The Toronto Dominion has expected return of -0.0231%. Please be advised to validate Toronto Dominion Information Ratio as well as the relationship between Potential Upside and Kurtosis to decide if The Toronto Dominion past performance will be repeated at some point in the near future.
|15 days auto-correlation||(0.61) |
Very good reverse predictability
The Toronto Dominion Bank has very good reverse predictability. Overlapping area represents the amount of predictability between Toronto Dominion time series from June 20, 2018 to July 5, 2018 and July 5, 2018 to July 20, 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 The Toronto Dominion price movement. The serial correlation of -0.61 indicates that roughly 61.0% of current Toronto Dominion price fluctuation can be explain by its past prices. Given that The Toronto Dominion Bank has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Toronto Dominion for similar time interval.
|Correlation Coefficient|| -0.61|
|Spearman Rank Test|| -0.43|
|Price Variance|| 0.04|
|Lagged Price Variance|| 0.19|