Macroaxis considers Union Bank to be not too risky.
Union Bank of owns Efficiency Ratio (i.e. Sharpe Ratio) of -0.1933 which indicates
Union Bank of had -0.1933% of return per unit of risk over the last 1 month. Macroaxis philosophy towards measuring 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. Union Bank of India exposes twenty-one different
technical indicators which can help you to evaluate volatility that cannot be diversified away. Please be advised to validate Union Bank
Coefficient Of Variation of
1,957 and Risk Adjusted Performance of 0.011408 to confirm risk estimate we provide. Macroaxis gives Union Bank performance score of 0 on a scale of 0 to 100. The entity has beta of -1.3875 which indicates as returns on market increase, returns on owning Union Bank are expected to decrease by larger amounts. On the other hand, during market turmoil, Union Bank is expected to significantly outperform it.. Even though it is essential to pay attention to Union Bank of current price movements, it is always good to be careful when utilizing equity historical returns. Macroaxis philosophy towards measuring 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. Union Bank of India exposes twenty-one different technical indicators which can help you to evaluate its performance. Union Bank of has expected return of -0.4089%. Please be advised to validate Union Bank Coefficient Of Variation, Treynor Ratio as well as the relationship between Treynor Ratio and Semi Variance to decide if Union Bank of past performance will be repeated at some point in the near future. | 15 days auto-correlation | 0.32 |
Below average predictability
Union Bank of India has below average predictability. Overlapping area represents the amount of predictability between Union Bank time series from August 20, 2018 to September 4, 2018 and September 4, 2018 to September 19, 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 Union Bank of price movement. The serial correlation of 0.32 indicates that nearly 32.0% of current Union Bank price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.32 |
| Spearman Rank Test | 0.39 |
| Residual Average | 0.0 |
| Price Variance | 1.25 |
