ProFunds UltraSector Backtested Returns
Macroaxis considers ProFunds UltraSector not too risky given 1 month investment horizon. ProFunds UltraSector
maintains Sharpe Ratio (i.e. Efficiency) of 0.1564 which implies ProFunds UltraSector
had 0.1564% of return per unit of risk over the last 1 month. Our philosophy towards forecasting volatility of a fund is to use all available market data together with company specific technical indicators
that cannot be diversified away. We have found twenty-one technical indicators
for ProFunds UltraSector which you can use to evaluate future volatility of the fund. Please employ ProFunds UltraSector Coefficient Of Variation
of 3,214 and Risk Adjusted Performance of 0.063178 to confirm if our risk estimates are consistent with your expectations. The fund holds Beta of -0.0233 which implies as returns on market increase, returns on owning ProFunds UltraSector are expected to decrease at a much smaller rate. During bear market, ProFunds UltraSector is likely to outperform the market.. Although it is vital to follow to ProFunds UltraSector current trending patterns, it is good to be conservative about what you can actually do with the information regarding equity existing price patterns. The philosophy towards forecasting future performance of any fund is to evaluate the business as a whole together with its past performance including all available fundamental and technical indicators. By analyzing ProFunds UltraSector technical indicators you can presently evaluate if the expected return of 0.2529% will be sustainable into the future.
|15 days auto-correlation||(0.69) |
Very good reverse predictability
ProFunds UltraSector Mobile Telecom Inv has very good reverse predictability. Overlapping area represents the amount of predictability between ProFunds UltraSector time series from February 22, 2018 to March 9, 2018 and March 9, 2018 to March 24, 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 ProFunds UltraSector price movement. The serial correlation of -0.69 indicates that around 69.0% of current ProFunds UltraSector price fluctuation can be explain by its past prices. Given that ProFunds UltraSector Mobile Telecom Inv has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of ProFunds UltraSector for similar time interval.
|Correlation Coefficient|| -0.69|
|Spearman Rank Test|| -0.65|
|Price Variance|| 1.03|
|Lagged Price Variance|| 7.74|
ProFunds UltraSector Lagged Returns