has Sharpe Ratio of 0.2782 which conveys that the index had 0.2782% of return per unit of standard deviation over the last 3 months. Our approach into estimating volatility of an index is to use all available market data together with index specific technical indicators
that cannot be diversified away. We have found twenty-one technical indicators
for NASDAQ Composite which you can use to evaluate future volatility of the entity. The entity secures Beta (Market Risk) of 0.0 which conveys that the returns on MARKET and NASDAQ Composite are completely uncorrelated. Although it is extremely important to respect NASDAQ Composite price patterns
, it is better to be realistic regarding the information on equity historical price patterns
. The approach into estimating future performance of any index is to evaluate the business as a whole together with its past performance including all available fundamental and technical indicators
. By inspecting NASDAQ Composite technical indicators
you can now evaluate if the expected return of 0.1314% will be sustainable into the future.
No correlation between past and present
NASDAQ Composite has no correlation between past and present. Overlapping area represents the amount of predictability between NASDAQ Composite time series from June 21, 2019 to August 5, 2019 and August 5, 2019 to September 19, 2019. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of NASDAQ Composite price movement. The serial correlation of 0.0 indicates that just 0.0% of current NASDAQ Composite price fluctuation can be explain by its past prices.