In the case of mutual fund performance, it implies a fund with a very good year will likely incur bad years ahead. (aaii.com)
We also encourage you to read these two articles to know more about T - statistic — Article 1, Article 2 & its application in mutual fund performance analysis. (passivefunds.in)
And, we can predict mutual fund performance with better reliability than past methods. (researchaffiliates.com)