Macroaxis considers Innovation Shares to be not too volatile. Innovation Shares holds Efficiency (Sharpe) Ratio of -0.0172 which attests that the entity had -0.0172% of return per unit of risk over the last 3 months. Macroaxis philosophy towards determining 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. Innovation Shares exposes twenty-eight different technical indicators which can help you to evaluate volatility that cannot be diversified away. Please be advised to check out Innovation Shares Market Risk Adjusted Performance of 0.3524, Risk Adjusted Performance of 0.0697 and Downside Deviation of 1.04 to validate risk estimate we provide.
90 Days Market Risk
Not too volatile
Chance of Distress in 24 months
90 Days Economic Sensitivity
Barely shadows market
|Horizon||30 Days Login to change|
Innovation Shares Market Sensitivity
|As returns on market increase, Innovation Shares returns are expected to increase less than the market. However during bear market, the loss on holding Innovation Shares will be expected to be smaller as well. 3 Months Beta |Analyze Innovation Shares Demand TrendCheck current 30 days Innovation Shares correlation with market (DOW)|
β = 0.1102
Innovation Shares Central Daily Price Deviation
Innovation Shares Technical Analysis
Innovation Shares Projected Return Density Against MarketGiven the investment horizon of 30 days, Innovation Shares has beta of 0.1102 suggesting as returns on market go up, Innovation Shares average returns are expected to increase less than the benchmark. However during bear market, the loss on holding Innovation Shares NextGen Vehic will be expected to be much smaller as well. Moreover, The company has an alpha of 0.0403 implying that it can potentially generate 0.0403% excess return over DOW after adjusting for the inherited market risk (beta).
Predicted Return Density
Given the investment horizon of 30 days, the coefficient of variation of Innovation Shares is -5823.92. The daily returns are destributed with a variance of 1.39 and standard deviation of 1.18. The mean deviation of Innovation Shares NextGen Vehic is currently at 0.89. For similar time horizon, the selected benchmark (DOW) has volatility of 0.98
|Alpha over DOW||=||0.0403|
|Beta against DOW||=||0.11|
Innovation Shares Return Volatilitythe ETF inherits 0.0% risk (volatility on return distribution) over the 30 days horizon. the entity inherits 0.9886% risk (volatility on return distribution) over the 30 days horizon.
Innovation Shares Investment Opportunity
Innovation Shares NextGen Vehic has a volatility of 1.18 and is 1.19 times more volatile than DOW. 10 of all equities and portfolios are less risky than Innovation Shares. Compared to the overall equity markets, volatility of historical daily returns of Innovation Shares NextGen Vehic is lower than 10 () of all global equities and portfolios over the last 30 days. Use Innovation Shares NextGen Vehic to enhance returns of your portfolios. The etf experiences unexpected upward trend. Watch out for market signals. Check odds of Innovation Shares to be traded at $24.52 in 30 days. . As returns on market increase, Innovation Shares returns are expected to increase less than the market. However during bear market, the loss on holding Innovation Shares will be expected to be smaller as well.
Innovation Shares correlation with market
Innovation Shares Current Risk Indicators
|Risk Adjusted Performance||0.0697|
|Market Risk Adjusted Performance||0.3524|
|Coefficient Of Variation||1295.13|
Innovation Shares Suggested Diversification Pairs