Macroaxis considers First Trust to be not too risky. First Trust Japan
secures Sharpe Ratio (or Efficiency) of -0.2378 which denotes First Trust Japan
had -0.2378% of return per unit of risk over the last 1 month. Macroaxis philosophy towards predicting 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
. First Trust Japan AlphaDEX ETF exposes twenty-eight different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to confirm First Trust Japan Coefficient Of Variation
of 418.88 and Mean Deviation of 1.08 to check risk estimate we provide. The organization shows Beta (market volatility) of -0.0991 which denotes to the fact that as returns on market increase, returns on owning First Trust are expected to decrease at a much smaller rate. During bear market, First Trust is likely to outperform the market.. Even though it is essential to pay attention to First Trust Japan historical returns, it is always good to be careful when utilizing equity current trending patterns. Macroaxis philosophy towards predicting 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. First Trust Japan AlphaDEX ETF exposes twenty-eight different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation|| 0.21 |
First Trust Japan AlphaDEX ETF has weak predictability. Overlapping area represents the amount of predictability between First Trust time series from September 23, 2018 to October 8, 2018 and October 8, 2018 to October 23, 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 First Trust Japan price movement. The serial correlation of 0.21 indicates that over 21.0% of current First Trust price fluctuation can be explain by its past prices.
|Spearman Rank Test||0.13|