We consider Paz Oil not too risky. Paz Oil
maintains Sharpe Ratio (i.e. Efficiency) of 0.0572 which implies Paz Oil
had 0.0572% of return per unit of risk over the last 2 months. Our philosophy towards forecasting 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-one technical indicators
for Paz Oil which you can use to evaluate future volatility of the company. Please check Paz Oil Coefficient Of Variation
of (12,823) and Risk Adjusted Performance of (0.012459) to confirm if risk estimate we provide are consistent with the epected return of 0.0721%. Paz Oil has performance score of 3 on a scale of 0 to 100. The organization holds Beta of -0.1166 which implies as returns on market increase, returns on owning Paz Oil are expected to decrease at a much smaller rate. During bear market, Paz Oil is likely to outperform the market.. Although it is extremely important to respect Paz Oil current trending patterns, it is better to be realistic regarding the information on equity existing price patterns. The philosophy towards forecasting 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 Paz Oil technical indicators you can presently evaluate if the expected return of 0.0721% will be sustainable into the future. Paz Oil right now holds a risk of 1.2593%. Please check Paz Oil Mean Deviation, Downside Deviation, Standard Deviation, as well as the relationship between Semi Deviation and Coefficient Of Variation to decide if Paz Oil will be following its historical price patterns.
|15 days auto-correlation||(0.70) |
Very good reverse predictability
Paz Oil Company Ltd has very good reverse predictability. Overlapping area represents the amount of predictability between Paz Oil time series from October 11, 2018 to November 10, 2018 and November 10, 2018 to December 10, 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 Paz Oil price movement. The serial correlation of -0.7 indicates that around 70.0% of current Paz Oil price fluctuation can be explain by its past prices. Given that Paz Oil Company Ltd has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Paz Oil for similar time interval.
|Spearman Rank Test||-0.22|