holds Efficiency (Sharpe) Ratio of -0.0904 which attests that the entity had -0.0904% of return per unit of risk over the last 3 months. Macroaxis philosophy towards determining risk of any index is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators
. Hang Seng exposes twenty-eight different technical indicators
which can help you to evaluate volatility that cannot be diversified away. The index retains Market Volatility (i.e. Beta) of 0.0 which attests that the returns on MARKET and Hang Seng are completely uncorrelated. Even though it is essential to pay attention to Hang Seng
current price history, it is always good to be careful when utilizing equity current price movements. Macroaxis philosophy towards determining future performance of any index is to check both, its past performance charts as well as the business as a whole, including all available technical indicators
. Hang Seng exposes twenty-eight different technical indicators which can help you to evaluate its performance.
Almost perfect reverse predictability
Hang Seng has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Hang Seng time series from June 20, 2019 to August 4, 2019 and August 4, 2019 to September 18, 2019. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Hang Seng price movement. The serial correlation of -0.73 indicates that around 73.0% of current Hang Seng price fluctuation can be explain by its past prices. Given that Hang Seng has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Hang Seng for similar time interval.