Macroaxis considers Taseko Mines exceptionally risky given 1 month investment horizon. Taseko Mines Limited
owns Efficiency Ratio (i.e. Sharpe Ratio) of 0.0719 which indicates Taseko Mines Limited
had 0.0719% of return per unit of risk over the last 1 month. Our philosophy towards measuring volatility of a stock is to use all available market data together with company specific technical indicators
that cannot be diversified away. We have found twenty-one technical indicators
for Taseko Mines Limited which you can use to evaluate future volatility of the company. Please operate Taseko Mines Coefficient Of Variation
of 469.04 and Risk Adjusted Performance of 0.01 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100 Taseko Mines holds performance score of 4. The entity has beta of 0.0 which indicates the returns on MARKET and Taseko Mines are completely uncorrelated. Although it is vital to follow to Taseko Mines Limited current price movements, it is good to be conservative about what you can actually do with the information regarding equity historical returns. The philosophy towards measuring future performance of any stock is to evaluate the business as a whole together with its past performance including all available fundamental and technical indicators. By inspecting Taseko Mines Limited technical indicators you can presently evaluate if the expected return of 0.267% will be sustainable into the future. Please operates Taseko Mines Jensen Alpha, Potential Upside as well as the relationship between Potential Upside and Skewness to make a quick decision on weather Taseko Mines Limited existing price patterns will revert.
|15 days auto-correlation||(0.48) |
Modest reverse predictability
Taseko Mines Limited has modest reverse predictability. Overlapping area represents the amount of predictability between Taseko Mines time series from May 24, 2018 to June 8, 2018 and June 8, 2018 to June 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 Taseko Mines Limited price movement. The serial correlation of -0.48 indicates that about 48.0% of current Taseko Mines price fluctuation can be explain by its past prices. Given that Taseko Mines Limited has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Taseko Mines for similar time interval.
|Correlation Coefficient|| -0.48|
|Spearman Rank Test|| -0.59|
|Price Variance|| 0.01|
|Lagged Price Variance|| 0.01|