Workday Inc Backtested Returns
Macroaxis considers Workday not too risky given 1 month investment horizon. Workday Inc
shows Sharpe Ratio of 0.1263 which attests that Workday Inc
had 0.1263% of return per unit of risk over the last 1 month. Our philosophy towards determining 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 Workday Inc which you can use to evaluate future volatility of the organization. Please utilize Workday Inc Market Risk Adjusted Performance
of 0.69, Mean Deviation of 1.38 and Downside Deviation of 1.69 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100 Workday holds performance score of 8. The firm maintains market beta of -0.2897 which attests that as returns on market increase, returns on owning Workday are expected to decrease at a much smaller rate. During bear market, Workday is likely to outperform the market.. Although it is extremely important to respect Workday Inc historical price patterns, it is better to be realistic regarding the information on equity current price history. The philosophy towards determining 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 examining Workday Inc technical indicators you can presently evaluate if the expected return of 0.2292% will be sustainable into the future. Please utilizes Workday Inc Jensen Alpha and Semi Variance to make a quick decision on weather Workday Inc historical returns will revert.
|15 days auto-correlation||(0.76) |
Almost perfect reverse predictability
Workday Inc has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Workday time series from February 20, 2018 to March 7, 2018 and March 7, 2018 to March 22, 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 Workday Inc price movement. The serial correlation of -0.76 indicates that around 76.0% of current Workday price fluctuation can be explain by its past prices. Given that Workday Inc has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Workday for similar time interval.
|Correlation Coefficient|| -0.76|
|Spearman Rank Test|| -0.53|
|Price Variance|| 6.83|
|Lagged Price Variance|| 18.31|
Workday Lagged Returns