Macroaxis considers PowerShares not too volatile given 1 month investment horizon. PowerShares DB Oil
maintains Sharpe Ratio (i.e. Efficiency) of 0.2679 which implies PowerShares DB Oil
had 0.2679% of return per unit of risk over the last 1 month. Our philosophy towards forecasting volatility of an etf is to use all available market data together with etf specific technical indicators
that cannot be diversified away. We have found twenty-one technical indicators
for PowerShares DB Oil which you can use to evaluate future volatility of the etf. Please employ PowerShares DB Oil Coefficient Of Variation
of 404.65, Semi Deviation
of 0.5067 and Risk Adjusted Performance
of 0.0976 to confirm if our risk estimates are consistent with your expectations. The etf holds Beta of 0.8161 which implies as returns on market increase, PowerShares returns are expected to increase less than the market. However during bear market, the loss on holding PowerShares will be expected to be smaller as well.. Although it is vital to follow to PowerShares DB Oil
current trending patterns, it is good to be conservative about what you can actually do with the information regarding equity existing price patterns
. The philosophy towards forecasting future performance of any etf is to evaluate the business as a whole together with its past performance including all available fundamental and technical indicators
. By analyzing PowerShares DB Oil technical indicators
you can presently evaluate if the expected return of 0.2919% will be sustainable into the future.
|15 days auto-correlation|| 0.33 |
Below average predictability
PowerShares DB Oil ETF has below average predictability. Overlapping area represents the amount of predictability between PowerShares time series from August 19, 2018 to September 3, 2018 and September 3, 2018 to September 18, 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 PowerShares DB Oil price movement. The serial correlation of 0.33 indicates that nearly 33.0% of current PowerShares price fluctuation can be explain by its past prices.
|Spearman Rank Test||0.57|