Target Backtested Returns
Macroaxis considers Target to be not too risky. Target
owns Efficiency Ratio (i.e. Sharpe Ratio) of -0.0485 which indicates Target
had -0.0485% 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
. Target Corporation exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to validate Target Coefficient Of Variation
of 1,184 and Risk Adjusted Performance of 0.14 to confirm risk estimate we provide. Macroaxis gives Target performance score of 0 on a scale of 0 to 100. The entity has beta of 0.8364 which indicates as returns on market increase, Target returns are expected to increase less than the market. However during bear market, the loss on holding Target will be expected to be smaller as well.. Even though it is essential to pay attention to Target 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. Target Corporation exposes twenty-one different technical indicators which can help you to evaluate its performance. Target has expected return of -0.0934%. Please be advised to validate Target Information Ratio and Downside Variance to decide if Target past performance will be repeated at some point in the near future.
|15 days auto-correlation||(0.27) |
Weak reverse predictability
Target Corporation has weak reverse predictability. Overlapping area represents the amount of predictability between Target time series from January 24, 2018 to February 8, 2018 and February 8, 2018 to February 23, 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 Target price movement. The serial correlation of -0.27 indicates that nearly 27.0% of current Target price fluctuation can be explain by its past prices. Given that Target Corporation has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Target for similar time interval.
|Correlation Coefficient|| -0.27|
|Spearman Rank Test|| -0.39|
|Price Variance|| 2.58|
|Lagged Price Variance|| 3.81|
Target Lagged Returns