Macroaxis considers UBS ETRACS to be extremely risky. UBS ETRACS ProShares
owns Efficiency Ratio (i.e. Sharpe Ratio) of -0.0733 which indicates UBS ETRACS ProShares
had -0.0733% of return per unit of standard deviation over the last 1 month. Macroaxis approach into measuring 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
. UBS ETRACS ProShares Dly 3x Invrs CrdETN exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to validate UBS ETRACS Risk Adjusted Performance
of 0.06 and Market Risk Adjusted Performance of 0.3287 to confirm risk estimate we provide. The entity has beta of -2.2186 which indicates as returns on market increase, returns on owning UBS ETRACS are expected to decrease by larger amounts. On the other hand, during market turmoil, UBS ETRACS is expected to significantly outperform it.. Even though it is essential to pay attention to UBS ETRACS ProShares current price movements, it is always good to be careful when utilizing equity historical returns. Macroaxis approach into measuring 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. UBS ETRACS ProShares Dly 3x Invrs CrdETN exposes twenty-one different technical indicators which can help you to evaluate its performance.
|15 days auto-correlation||(0.78) |
Almost perfect reverse predictability
UBS ETRACS ProShares Dly 3x Invrs CrdETN has almost perfect reverse predictability. Overlapping area represents the amount of predictability between UBS ETRACS time series from June 18, 2018 to July 3, 2018 and July 3, 2018 to July 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 UBS ETRACS ProShares price movement. The serial correlation of -0.78 indicates that around 78.0% of current UBS ETRACS price fluctuation can be explain by its past prices. Given that UBS ETRACS ProShares Dly 3x Invrs CrdETN has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of UBS ETRACS for similar time interval.
|Correlation Coefficient|| -0.78|
|Spearman Rank Test|| -0.71|
|Price Variance|| 0.31|
|Lagged Price Variance|| 1.32|