iPath Global Carbon Backtested Returns
Macroaxis considers iPath Global to be moderately volatile. iPath Global Carbon
shows Sharpe Ratio of -0.1934 which attests that iPath Global Carbon
had -0.1934% of return per unit of risk over the last 1 month. Macroaxis philosophy towards determining 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
. iPath Global Carbon exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to check out iPath Global Carbon Market Risk Adjusted Performance
of (8.02) and Mean Deviation of 2.24 to validate risk estimate we provide. The entity maintains market beta of 0.0714 which attests that as returns on market increase, iPath Global returns are expected to increase less than the market. However during bear market, the loss on holding iPath Global will be expected to be smaller as well.. Even though it is essential to pay attention to iPath Global Carbon historical price patterns, it is always good to be careful when utilizing equity current price history. Macroaxis philosophy towards determining 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. iPath Global Carbon exposes twenty-one different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation||(0.49) |
Modest reverse predictability
iPath Global Carbon ETN has modest reverse predictability. Overlapping area represents the amount of predictability between iPath Global time series from November 12, 2017 to November 27, 2017 and November 27, 2017 to December 12, 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 -0.49 indicates that about 49.0% of current iPath Global price fluctuation can be explain by its past prices. Given that iPath Global Carbon ETN has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of iPath Global for similar time interval.
|Correlation Coefficient|| -0.49|
|Spearman Rank Test|| -0.2|
|Price Variance|| 0.03|
|Lagged Price Variance|| 0.04|
iPath Global Lagged Returns