Macroaxis considers ProShares UltraShort to be not too volatile. ProShares UltraShort
maintains Sharpe Ratio (i.e. Efficiency) of -0.1495 which implies ProShares UltraShort
had -0.1495% 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-eight 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 654.33 and Risk Adjusted Performance of 0.06 to confirm risk estimate we provide. The etf holds Beta of -0.348 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-eight different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation|| 0.18 |
Very weak predictability
ProShares UltraShort Utilities has very weak predictability. Overlapping area represents the amount of predictability between ProShares UltraShort time series from July 17, 2018 to August 1, 2018 and August 1, 2018 to August 16, 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 0.18 indicates that over 18.0% of current ProShares UltraShort price fluctuation can be explain by its past prices.
|Correlation Coefficient|| 0.18|
|Spearman Rank Test|| 0.5|
|Price Variance|| 0.16|
|Lagged Price Variance|| 0.06|