Macroaxis considers ProShares UltraShort to be not too risky. ProShares UltraShort
maintains Sharpe Ratio (i.e. Efficiency) of -0.2272 which implies ProShares UltraShort
had -0.2272% 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 635.33 and Risk Adjusted Performance of 0.07 to confirm risk estimate we provide. The etf holds Beta of -0.7313 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||(0.05) |
Very weak reverse predictability
ProShares UltraShort SP500 has very weak reverse predictability. Overlapping area represents the amount of predictability between ProShares UltraShort time series from August 23, 2018 to September 7, 2018 and September 7, 2018 to September 22, 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 -0.05 indicates that only as little as 5.0% of current ProShares UltraShort price fluctuation can be explain by its past prices. Given that ProShares UltraShort SP500 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.
|Spearman Rank Test||-0.14|