iPath Global Carbon Backtested Returns
iPath Global is unusually risky given 1 month investment horizon. iPath Global Carbon
shows Sharpe Ratio of 0.2333 which attests that iPath Global Carbon
had 0.2333% of return per unit of risk over the last 1 month. Our philosophy towards determining risk of a etf is to use both market data as well as company specific technical data. We found twenty-one different technical indicators
which can help you to evaluate if expected returns of 1.0569% are justified by taking the suggested risk. Use iPath Global Carbon ETN Market Risk Adjusted Performance
of (0.2), Mean Deviation of 3.11 and Downside Deviation of 4.98 to evaluate company specific risk that cannot be diversified away. The entity maintains market beta of -4.9512 which attests that as returns on market increase, returns on owning iPath Global are expected to decrease by larger amounts. On the other hand, during market turmoil, iPath Global is expected to significantly outperform it.. Although it is vital to follow to iPath Global Carbon historical price patterns, it is good to be conservative about what you can actually do with the information regarding equity current price history. Macroaxis philosophy towards determining future performance of any etf is to look not only at its past charts but also at the business as a whole, including all fundamental and technical indicators. To evaluate if iPath Global Carbon expected return of 1.0569 will be sustainable into the future, we have found twenty-one different technical indicators which can help you to check if the expected returns are sustainable.
|15 days auto-correlation|| 0.38 |
Below average predictability
iPath Global Carbon ETN has below average predictability. Overlapping area represents the amount of predictability between iPath Global time series from September 22, 2017 to October 7, 2017 and October 7, 2017 to October 22, 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 iPath Global Carbon price movement. The serial correlation of 0.38 indicates that just about 38.0% of current iPath Global price fluctuation can be explain by its past prices.
|Correlation Coefficient|| 0.38|
|Spearman Rank Test|| 0.31|
|Price Variance|| 0.16|
|Lagged Price Variance|| 0.11|
iPath Global Lagged Returns