Macroaxis considers VelocityShares 3x to be extremely risky. VelocityShares 3x Invrs
owns Efficiency Ratio (i.e. Sharpe Ratio) of -0.1139 which indicates VelocityShares 3x Invrs
had -0.1139% 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
. VelocityShares 3x Invrs Crude Oil ETNNew exposes twenty-eight different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to validate VelocityShares 3x Coefficient Of Variation
of 1,707 and Risk Adjusted Performance of 0.026257 to confirm risk estimate we provide. The entity has beta of -2.5553 which indicates as returns on market increase, returns on owning VelocityShares 3x are expected to decrease by larger amounts. On the other hand, during market turmoil, VelocityShares 3x is expected to significantly outperform it.. Even though it is essential to pay attention to VelocityShares 3x Invrs 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. VelocityShares 3x Invrs Crude Oil ETNNew exposes twenty-eight different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation||(0.84) |
Excellent reverse predictability
VelocityShares 3x Invrs Crude Oil ETNNew has excellent reverse predictability. Overlapping area represents the amount of predictability between VelocityShares 3x time series from June 17, 2018 to July 2, 2018 and July 2, 2018 to July 17, 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 VelocityShares 3x Invrs price movement. The serial correlation of -0.84 indicates that around 84.0% of current VelocityShares 3x price fluctuation can be explain by its past prices. Given that VelocityShares 3x Invrs Crude Oil ETNNew has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of VelocityShares 3x for similar time interval.
|Correlation Coefficient|| -0.84|
|Spearman Rank Test|| -0.59|
|Price Variance|| 0.27|
|Lagged Price Variance|| 1.54|