Macroaxis considers ProShares UltraShort to be moderately volatile. ProShares UltraShort
maintains Sharpe Ratio (i.e. Efficiency) of -0.0525 which implies ProShares UltraShort
had -0.0525% 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 863.02 and Risk Adjusted Performance of 0.045002 to confirm risk estimate we provide. The etf holds Beta of -0.7531 which implies as returns on market increase, returns on owning ProShares UltraShort are expected to decrease at a much smaller rate. During bear market, ProShares UltraShort is likely to outperform the market.. Even though it is essential to pay attention to ProShares UltraShort 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 UltraShort exposes twenty-one different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation||(0.74) |
Almost perfect reverse predictability
ProShares UltraShort Bloomberg Crude Oil has almost perfect reverse predictability. Overlapping area represents the amount of predictability between ProShares UltraShort time series from June 23, 2018 to July 8, 2018 and July 8, 2018 to July 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 ProShares UltraShort price movement. The serial correlation of -0.74 indicates that around 74.0% of current ProShares UltraShort price fluctuation can be explain by its past prices. Given that ProShares UltraShort Bloomberg Crude Oil has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of ProShares UltraShort for similar time interval.
|Correlation Coefficient|| -0.74|
|Spearman Rank Test|| -0.28|
|Price Variance|| 0.57|
|Lagged Price Variance|| 0.54|