Virtus LifeSci Biotech Backtested Returns
Macroaxis considers Virtus LifeSci to be not too risky. Virtus LifeSci Biotech
owns Efficiency Ratio (i.e. Sharpe Ratio) of -0.0038 which indicates Virtus LifeSci Biotech
had -0.0038% of return per unit of risk over the last 1 month. 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
. Virtus LifeSci Biotech Products ETF exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to validate Virtus LifeSci Coefficient Of Variation
of 4,078 and Risk Adjusted Performance of 0.024711 to confirm risk estimate we provide. The entity has beta of -0.3517 which indicates as returns on market increase, returns on owning Virtus LifeSci are expected to decrease at a much smaller rate. During bear market, Virtus LifeSci is likely to outperform the market.. Even though it is essential to pay attention to Virtus LifeSci 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. Virtus LifeSci Biotech Products 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
Virtus LifeSci Biotech Products ETF has very weak reverse predictability. Overlapping area represents the amount of predictability between Virtus LifeSci time series from February 18, 2018 to March 5, 2018 and March 5, 2018 to March 20, 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 Virtus LifeSci Biotech price movement. The serial correlation of -0.02 indicates that only 2.0% of current Virtus LifeSci price fluctuation can be explain by its past prices. Given that Virtus LifeSci Biotech Products ETF has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Virtus LifeSci for similar time interval.
|Correlation Coefficient|| -0.02|
|Spearman Rank Test|| -0.62|
|Price Variance|| 0.38|
|Lagged Price Variance|| 0.27|
Virtus LifeSci Lagged Returns