has Sharpe Ratio of 0.0251 which conveys that the entity had 0.0251% of return per unit of risk over the last 3 months. Our philosophy towards estimating volatility of an index is to use all available market data together with index specific technical indicators
that cannot be diversified away. We have found twenty-eight technical indicators
for Nasdaq which you can use to evaluate future volatility of the organization. The index secures Beta (Market Risk) of 0.0 which conveys that the returns on MARKET and Nasdaq are completely uncorrelated. Although it is extremely important to respect Nasdaq price patterns
, it is better to be realistic regarding the information on equity historical price patterns
. The philosophy towards estimating future performance of any index is to evaluate the business as a whole together with its past performance including all available fundamental and technical indicators
. By analyzing Nasdaq technical indicators
you can presently evaluate if the expected return of 0.0278% will be sustainable into the future.
Very weak reverse predictability
Nasdaq has very weak reverse predictability. Overlapping area represents the amount of predictability between Nasdaq time series from June 24, 2019 to August 8, 2019 and August 8, 2019 to September 22, 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 Nasdaq price movement. The serial correlation of -0.05 indicates that only as little as 5.0% of current Nasdaq price fluctuation can be explain by its past prices. Given that Nasdaq has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Nasdaq for similar time interval.