ProShares UltraShort Backtested Returns
Macroaxis considers ProShares UltraShort to be not too risky. ProShares UltraShort
maintains Sharpe Ratio (i.e. Efficiency) of -0.5141 which implies ProShares UltraShort
had -0.5141% 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 (212.37) and Risk Adjusted Performance of (0.18) to confirm risk estimate we provide. The etf holds Beta of 0.3522 which implies as returns on market increase, ProShares UltraShort returns are expected to increase less than the market. However during bear market, the loss on holding ProShares UltraShort will be expected to be smaller as well.. 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|| 0.05 |
Virtually no predictability
ProShares UltraShort SP500 has virtually no predictability. Overlapping area represents the amount of predictability between ProShares UltraShort time series from December 18, 2017 to January 2, 2018 and January 2, 2018 to January 17, 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.
|Correlation Coefficient|| 0.05|
|Spearman Rank Test|| -0.04|
|Price Variance|| 0.59|
|Lagged Price Variance|| 0.03|
ProShares UltraShort Lagged Returns