ProShares UltraPro 3x Backtested Returns
Macroaxis considers ProShares UltraPro to be relatively volatile. ProShares UltraPro 3x
maintains Sharpe Ratio (i.e. Efficiency) of -0.1042 which implies ProShares UltraPro 3x
had -0.1042% of return per unit of risk over the last 1 month. Macroaxis philosophy towards forecasting 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
. ProShares UltraPro 3x exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to check ProShares UltraPro 3x Coefficient Of Variation
of (1,059) and Risk Adjusted Performance of (0.038649) to confirm risk estimate we provide. The etf holds Beta of 1.3336 which implies as market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, ProShares UltraPro will likely underperform.. Even though it is essential to pay attention to ProShares UltraPro 3x current trending patterns, it is always good to be careful when utilizing equity existing price patterns. Macroaxis philosophy towards forecasting 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. ProShares UltraPro 3x exposes twenty-one different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation||(0.21) |
Weak reverse predictability
ProShares UltraPro 3x Short Crude Oil has weak reverse predictability. Overlapping area represents the amount of predictability between ProShares UltraPro time series from November 15, 2017 to November 30, 2017 and November 30, 2017 to December 15, 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 ProShares UltraPro 3x price movement. The serial correlation of -0.21 indicates that over 21.0% of current ProShares UltraPro price fluctuation can be explain by its past prices. Given that ProShares UltraPro 3x Short Crude Oil has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of ProShares UltraPro for similar time interval.
|Correlation Coefficient|| -0.21|
|Spearman Rank Test|| 0.01|
|Price Variance|| 0.17|
|Lagged Price Variance|| 0.56|
ProShares UltraPro Lagged Returns