Macroaxis considers ProShares UltraShort not very volatile given 1 month investment horizon. ProShares UltraShort
maintains Sharpe Ratio (i.e. Efficiency) of 0.4239 which implies ProShares UltraShort
had 0.4239% of return per unit of risk over the last 1 month. Our philosophy towards forecasting volatility of an etf is to use all available market data together with etf specific technical indicators
that cannot be diversified away. By analyzing ProShares UltraShort technical indicators
you can presently evaluate if the expected return of 0.9533% is justified by implied risk. Please employ ProShares UltraShort Coefficient Of Variation
of 245.12 and Risk Adjusted Performance
of 0.449 to confirm if our risk estimates are consistent with your expectations. The etf holds Beta of -0.2708 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.. Although it is vital to follow to ProShares UltraShort
current trending patterns, it is good to be conservative about what you can actually do with the information regarding equity existing price patterns
. The philosophy towards forecasting future performance of any etf is to evaluate the business as a whole together with its past performance including all available fundamental and technical indicators
. We have found twenty-eight technical indicators
for ProShares UltraShort which you can use to evaluate performance of the etf.
|15 days auto-correlation|| 0.51 |
ProShares UltraShort SmallCap600 has modest predictability. Overlapping area represents the amount of predictability between ProShares UltraShort time series from September 23, 2018 to October 8, 2018 and October 8, 2018 to October 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 0.51 indicates that about 51.0% of current ProShares UltraShort price fluctuation can be explain by its past prices.
|Spearman Rank Test||0.75|