ProFunds UltraSector Backtested Returns
Macroaxis considers ProFunds UltraSector to be not too volatile. ProFunds UltraSector
maintains Sharpe Ratio (i.e. Efficiency) of -0.0739 which implies ProFunds UltraSector
had -0.0739% of return per unit of risk over the last 1 month. Macroaxis philosophy towards forecasting risk of any fund is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators
. ProFunds UltraSector exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to check ProFunds UltraSector Coefficient Of Variation
of (1,325) and Risk Adjusted Performance of (0.020129) to confirm risk estimate we provide. The fund holds Beta of 2.496 which implies as market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, ProFunds UltraSector will likely underperform.. Even though it is essential to pay attention to ProFunds UltraSector current trending patterns, it is always good to be careful when utilizing equity existing price patterns. Macroaxis philosophy towards forecasting future performance of any fund is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. ProFunds UltraSector exposes twenty-one different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation||(0.78) |
Almost perfect reverse predictability
ProFunds UltraSector Mobile Telecom Svc has almost perfect reverse predictability. Overlapping area represents the amount of predictability between ProFunds UltraSector time series from October 23, 2017 to November 7, 2017 and November 7, 2017 to November 22, 2017. 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 -0.78 indicates that around 78.0% of current ProFunds UltraSector price fluctuation can be explain by its past prices. Given that ProFunds UltraSector Mobile Telecom Svc 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|| -0.78|
|Spearman Rank Test|| -0.81|
|Price Variance|| 4.25|
|Lagged Price Variance|| 11.6|
ProFunds UltraSector Lagged Returns