Macroaxis considers SPDR SP to be very steady. SPDR SP 500
owns Efficiency Ratio (i.e. Sharpe Ratio) of -0.0555 which indicates the organization had -0.0555% of return per unit of volatility over the last 2 months. Macroaxis approach towards 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
. SPDR SP 500 Buyback ETF exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to validate SPDR SP Coefficient Of Variation
of (1,514) and Risk Adjusted Performance of (0.06) to confirm risk estimate we provide. The entity has beta of 1.057 which indicates SPDR SP returns are very sensitive to returns on the market. as market goes up or down, SPDR SP is expected to follow. Even though it is essential to pay attention to SPDR SP 500 current price movements, it is always good to be careful when utilizing equity historical returns. Macroaxis approach towards 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. SPDR SP 500 Buyback ETF exposes twenty-one different technical indicators which can help you to evaluate its performance.
Modest reverse predictability
SPDR SP 500 Buyback ETF has modest reverse predictability. Overlapping area represents the amount of predictability between SPDR SP time series from June 22, 2019 to July 22, 2019 and July 22, 2019 to August 21, 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 SPDR SP 500 price movement. The serial correlation of -0.46 indicates that about 46.0% of current SPDR SP price fluctuation can be explain by its past prices. Given that SPDR SP 500 Buyback ETF has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of SPDR SP for similar time interval.