We consider Chevron not too risky. Chevron
secures Sharpe Ratio (or Efficiency) of 0.0207 which signifies that Chevron
had 0.0207% of return per unit of standard deviation over the last 2 months. Our philosophy in foreseeing volatility of a stock is to use all available market data together with stock specific technical indicators
that cannot be diversified away. We have found twenty-eight technical indicators
for Chevron Corporation which you can use to evaluate future volatility of the firm. Please confirm Chevron Mean Deviation
of 1.49 and Risk Adjusted Performance
of (0.12) to double-check if risk estimate we provide are consistent with the epected return of 0.0352%. Chevron has performance score of 1 on a scale of 0 to 100. The firm shows Beta (market volatility) of 0.8446 which signifies that as returns on market increase, Chevron returns are expected to increase less than the market. However during bear market, the loss on holding Chevron will be expected to be smaller as well.. Although it is extremely important to respect Chevron historical returns, it is better to be realistic regarding the information on equity current trending patterns. The philosophy in foreseeing 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 Chevron technical indicators you can presently evaluate if the expected return of 0.0352% will be sustainable into the future. Chevron right now shows a risk of 1.7011%. Please confirm Chevron Potential Upside, and the relationship between Jensen Alpha and Accumulation Distribution to decide if Chevron will be following its price patterns.
|15 days auto-correlation||(0.27) |
Weak reverse predictability
Chevron Corporation has weak reverse predictability. Overlapping area represents the amount of predictability between Chevron time series from October 12, 2018 to November 11, 2018 and November 11, 2018 to December 11, 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 Chevron price movement. The serial correlation of -0.27 indicates that nearly 27.0% of current Chevron price fluctuation can be explain by its past prices. Given that Chevron Corporation has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Chevron for similar time interval.
|Spearman Rank Test||0.07|