Workday Inc Backtested Returns
Macroaxis considers Workday not too risky given 1 month investment horizon. Workday Inc
shows Sharpe Ratio of 0.3156 which attests that Workday Inc
had 0.3156% 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 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 (8.3), Mean Deviation of 1.05 and Coefficient Of Variation of 315.74 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100 Workday holds performance score of 20. The firm maintains market beta of -0.053 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 vital to follow to Workday Inc historical price patterns, it is good to be conservative about what you can actually do with the information regarding 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 0.4608% will be sustainable into the future. Please utilizes Workday Inc Treynor Ratio and Expected Short fall to make a quick decision on weather Workday Inc historical returns will revert.
|15 days auto-correlation||(0.41) |
Modest reverse predictability
Workday Inc has modest reverse predictability. Overlapping area represents the amount of predictability between Workday time series from December 17, 2017 to January 1, 2018 and January 1, 2018 to January 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 Workday Inc price movement. The serial correlation of -0.41 indicates that just about 41.0% 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|| -0.41|
|Spearman Rank Test|| -0.09|
|Price Variance|| 11.99|
|Lagged Price Variance|| 0.35|
Workday Lagged Returns