Macroaxis considers PowerShares SP to be not too risky. PowerShares SP 500
maintains Sharpe Ratio (i.e. Efficiency) of -0.0235 which implies PowerShares SP 500
had -0.0235% 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 1,783 and Risk Adjusted Performance of 0.032601 to confirm risk estimate we provide. The etf holds Beta of 0.0383 which implies as returns on market increase, PowerShares SP returns are expected to increase less than the market. However during bear market, the loss on holding PowerShares SP will be expected to be smaller as well.. 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||(0.90) |
Excellent reverse predictability
PowerShares SP 500 Quality ETF has excellent reverse predictability. Overlapping area represents the amount of predictability between PowerShares SP time series from June 17, 2018 to July 2, 2018 and July 2, 2018 to July 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 PowerShares SP 500 price movement. The serial correlation of -0.9 indicates that approximately 90.0% of current PowerShares SP 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 SP for similar time interval.
|Correlation Coefficient|| -0.9|
|Spearman Rank Test|| -0.6|
|Price Variance|| 0.13|
|Lagged Price Variance|| 0.14|