Macroaxis considers Alkem Laboratories to be not too risky. Alkem Laboratories
secures Sharpe Ratio (or Efficiency) of -0.0146 which signifies that Alkem Laboratories
had -0.0146% of return per unit of risk over the last 1 month. Macroaxis philosophy towards foreseeing 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
. Alkem Laboratories Limited exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to confirm Alkem Laboratories Risk Adjusted Performance
of 0.18 and Mean Deviation of 1.43 to double-check risk estimate we provide. Macroaxis gives Alkem Laboratories performance score of 0 on a scale of 0 to 100. The firm shows Beta (market volatility) of -0.2316 which signifies that as returns on market increase, returns on owning Alkem Laboratories are expected to decrease at a much smaller rate. During bear market, Alkem Laboratories is likely to outperform the market.. Even though it is essential to pay attention to Alkem Laboratories historical returns, it is always good to be careful when utilizing equity current trending patterns. Macroaxis philosophy towards foreseeing 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. Alkem Laboratories Limited exposes twenty-one different technical indicators which can help you to evaluate its performance. Alkem Laboratories has expected return of -0.0187%. Please be advised to confirm Alkem Laboratories Variance as well as the relationship between Maximum Drawdown and Semi Variance to decide if Alkem Laboratories past performance will be repeated at some point in the near future.
|15 days auto-correlation||(0.42) |
Modest reverse predictability
Alkem Laboratories Limited has modest reverse predictability. Overlapping area represents the amount of predictability between Alkem Laboratories time series from October 18, 2018 to November 2, 2018 and November 2, 2018 to November 17, 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 Alkem Laboratories price movement. The serial correlation of -0.42 indicates that just about 42.0% of current Alkem Laboratories price fluctuation can be explain by its past prices. Given that Alkem Laboratories Limited has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Alkem Laboratories for similar time interval.
|Spearman Rank Test||-0.94|