NQEGT Backtested Returns
has Sharpe Ratio of -0.0171 which conveys that NQEGT
had -0.0171% of return per unit of risk over the last 1 month. Macroaxis philosophy in 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
. NQEGT exposes twenty-one 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 NQEGT are completely uncorrelated. Even though it is essential to pay attention to NQEGT price patterns
, it is always good to be careful when utilizing equity historical price patterns
. Macroaxis philosophy in 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
. NQEGT exposes twenty-one different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation||(0.79) |
Almost perfect reverse predictability
NQEGT has almost perfect reverse predictability. Overlapping area represents the amount of predictability between NQEGT time series from October 21, 2017 to November 5, 2017 and November 5, 2017 to November 20, 2017. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of NQEGT price movement. The serial correlation of -0.79 indicates that around 79.0% of current NQEGT price fluctuation can be explain by its past prices. Given that NQEGT has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of NQEGT for similar time interval.
|Correlation Coefficient|| -0.79|
|Spearman Rank Test|| -0.32|
|Price Variance|| 245.03|
|Lagged Price Variance|| 175.37|
NQEGT Lagged Returns