ProShares UltraShort Backtested Returns
Macroaxis considers ProShares UltraShort to be not too volatile. ProShares UltraShort
maintains Sharpe Ratio (i.e. Efficiency) of -0.1204 which implies ProShares UltraShort
had -0.1204% 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 UltraShort exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to check ProShares UltraShort Coefficient Of Variation
of (812.73) and Risk Adjusted Performance of (0.018968) to confirm risk estimate we provide. The etf holds Beta of 4.9313 which implies as market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, ProShares UltraShort will likely underperform.. Even though it is essential to pay attention to ProShares UltraShort current trending patternss, 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 UltraShort exposes twenty-one different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation|| 0.17 |
Very weak predictability
ProShares UltraShort Bloomberg Crude Oil has very weak predictability. Overlapping area represents the amount of predictability between ProShares UltraShort time series from September 19, 2017 to October 4, 2017 and October 4, 2017 to October 19, 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 UltraShort price movement. The serial correlation of 0.17 indicates that over 17.0% of current ProShares UltraShort price fluctuation can be explain by its past prices.
|Correlation Coefficient|| 0.17|
|Spearman Rank Test|| -0.06|
|Price Variance|| 1.59|
|Lagged Price Variance|| 1.11|
ProShares UltraShort Lagged Returns