Macroaxis considers PowerShares to be not too volatile. PowerShares SP 500
maintains Sharpe Ratio (i.e. Efficiency) of -0.1318 which implies PowerShares SP 500
had -0.1318% 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
. PowerShares SP 500 exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to check PowerShares SP 500 Coefficient Of Variation
of 625.54 and Risk Adjusted Performance of 0.17 to confirm risk estimate we provide. The etf holds Beta of 0.9122 which implies PowerShares returns are very sensitive to returns on the market. as market goes up or down, PowerShares is expected to follow.. Even though it is essential to pay attention to PowerShares SP 500 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. PowerShares SP 500 exposes twenty-one different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation||(0.21) |
Weak reverse predictability
PowerShares SP 500 Quality ETF has weak reverse predictability. Overlapping area represents the amount of predictability between PowerShares time series from September 18, 2018 to October 3, 2018 and October 3, 2018 to October 18, 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 PowerShares SP 500 price movement. The serial correlation of -0.21 indicates that over 21.0% of current PowerShares price fluctuation can be explain by its past prices. Given that PowerShares SP 500 Quality ETF has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of PowerShares for similar time interval.
|Spearman Rank Test||-0.46|