Macroaxis considers VanEck Vectors to be not too risky. VanEck Vectors Biotech
owns Efficiency Ratio (i.e. Sharpe Ratio) of -0.1252 which indicates VanEck Vectors Biotech
had -0.1252% of return per unit of risk over the last 2 months. Macroaxis philosophy towards measuring risk of any etf is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators
. VanEck Vectors Biotech ETF exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to validate VanEck Vectors Coefficient Of Variation
of 1,332 and Risk Adjusted Performance of 0.13 to confirm risk estimate we provide. The entity has beta of 0.116 which indicates as returns on market increase, VanEck Vectors returns are expected to increase less than the market. However during bear market, the loss on holding VanEck Vectors will be expected to be smaller as well.. Even though it is essential to pay attention to VanEck Vectors Biotech current price movements, it is always good to be careful when utilizing equity historical returns. Macroaxis philosophy towards measuring future performance of any etf is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. VanEck Vectors Biotech ETF exposes twenty-one different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation||(0.02) |
Very weak reverse predictability
VanEck Vectors Biotech ETF has very weak reverse predictability. Overlapping area represents the amount of predictability between VanEck Vectors time series from February 24, 2018 to March 26, 2018 and March 26, 2018 to April 25, 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 VanEck Vectors Biotech price movement. The serial correlation of -0.02 indicates that only 2.0% of current VanEck Vectors price fluctuation can be explain by its past prices. Given that VanEck Vectors Biotech ETF has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of VanEck Vectors for similar time interval.
|Correlation Coefficient|| -0.02|
|Spearman Rank Test|| -0.3|
|Price Variance|| 2.62|
|Lagged Price Variance|| 7.48|