Macroaxis considers United States not very risky given 1 month investment horizon. United States 3x owns Efficiency Ratio (i.e. Sharpe Ratio) of 0.1213 which indicates United States 3x had 0.1213% of return per unit of risk over the last 1 month. Our philosophy towards measuring volatility of a etf is to use all available market data together with company specific technical indicators that cannot be diversified away. By inspecting United States 3x technical indicators you can presently evaluate if the expected return of 0.6988% is justified by implied risk. Please operate United States Semi Deviation of 4.22, Coefficient Of Variation of 843.22 and Risk Adjusted Performance of 0.1274 to confirm if our risk estimates are consistent with your expectations.
|Time Horizon||30 Days Login to change|
United States Market Sensitivity
|As returns on market increase, returns on owning United States are expected to decrease at a much smaller rate. During bear market, United States is likely to outperform the market.One Month Beta |Analyze United States 3x Demand TrendCheck current 30 days United States correlation with market (DOW)|
β = -0.1792
United States 3x Technical Analysis
Projected Return Density Against MarketGiven the investment horizon of 30 days, United States 3x Oil has beta of -0.1792 . This entails as returns on benchmark increase, returns on holding United States are expected to decrease at a much smaller rate. During bear market, however, United States 3x Oil is likely to outperform the market. Moreover, United States 3x Oil has an alpha of 0.6206 implying that it can potentially generate 0.6206% excess return over DOW after adjusting for the inherited market risk (beta).
Given the investment horizon of 30 days, the coefficient of variation of United States is 824.47. The daily returns are destributed with a variance of 33.2 and standard deviation of 5.76. The mean deviation of United States 3x Oil is currently at 4.44. For similar time horizon, the selected benchmark (DOW) has volatility of 1.01