Park Hotels Resorts Backtested Returns
We consider Park Hotels not too risky. Park Hotels Resorts
maintains Sharpe Ratio (i.e. Efficiency) of 0.0381 which implies Park Hotels Resorts
had 0.0381% of return per unit of risk over the last 1 month. Our philosophy towards forecasting 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 Park Hotels Resorts which you can use to evaluate future volatility of the company. Please check Park Hotels Resorts Coefficient Of Variation
of (2,128) and Risk Adjusted Performance of (0.017141) to confirm if risk estimate we provide are consistent with the epected return of 0.0256%. Park Hotels has performance score of 2 on a scale of 0 to 100. The organization holds Beta of -0.7928 which implies as returns on market increase, returns on owning Park Hotels are expected to decrease at a much smaller rate. During bear market, Park Hotels is likely to outperform the market.. Although it is extremely important to respect Park Hotels Resorts current trending patterns, it is better to be realistic regarding the information on equity existing price patterns. The philosophy towards forecasting 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 analyzing Park Hotels Resorts technical indicators you can presently evaluate if the expected return of 0.0256% will be sustainable into the future. Park Hotels Resorts right now holds a risk of 0.6724%. Please check Park Hotels Resorts Information Ratio, Potential Upside as well as the relationship between Potential Upside and Kurtosis to decide if Park Hotels Resorts will be following its historical price patterns.
|15 days auto-correlation||(0.68) |
Very good reverse predictability
Park Hotels Resorts Inc has very good reverse predictability. Overlapping area represents the amount of predictability between Park Hotels time series from December 21, 2017 to January 5, 2018 and January 5, 2018 to January 20, 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 Park Hotels Resorts price movement. The serial correlation of -0.68 indicates that around 68.0% of current Park Hotels price fluctuation can be explain by its past prices. Given that Park Hotels Resorts Inc has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Park Hotels for similar time interval.
|Correlation Coefficient|| -0.68|
|Spearman Rank Test|| -0.76|
|Price Variance|| 0.04|
|Lagged Price Variance|| 0.05|
Park Hotels Lagged Returns