NYSE ARCA PHARMACEUT
has Sharpe Ratio of -0.0364 which conveys that the entity had -0.0364% of return per unit of standard deviation over the last 3 months. Macroaxis philosophy towards estimating risk of any index is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators
. NYSE ARCA exposes twenty-eight different technical indicators
which can help you to evaluate volatility that cannot be diversified away. The index secures Beta (Market Risk) of 0.0 which conveys that the returns on MARKET and NYSE ARCA are completely uncorrelated. Even though it is essential to pay attention to NYSE ARCA PHARMACEUT price patterns
, it is always good to be careful when utilizing equity historical price patterns
. Macroaxis philosophy towards estimating future performance of any index is to check both, its past performance charts as well as the business as a whole, including all available technical indicators
. NYSE ARCA exposes twenty-eight different technical indicators which can help you to evaluate its performance.
Weak reverse predictability
NYSE ARCA PHARMACEUTICAL INDEX has weak reverse predictability. Overlapping area represents the amount of predictability between NYSE ARCA time series from June 22, 2019 to August 6, 2019 and August 6, 2019 to September 20, 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 NYSE ARCA PHARMACEUT price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current NYSE ARCA price fluctuation can be explain by its past prices. Given that NYSE ARCA PHARMACEUTICAL INDEX has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of NYSE ARCA for similar time interval.