Procure Space Total Risk Alpha
| UFO Etf | | | USD 45.50 -1.28 -2.74% |
Observed values used to calculate the Total Risk Alpha technical indicator for Procure Space ETF. Indicator inputs depend on available historical price observations.
Procure Space ETF has current Total Risk Alpha of 0.6679. The total risk alpha measures the performance of an asset by comparing its returns with those of a selected benchmark portfolio.
Total Risk Alpha | = | RFR + (ER[b] - ER[a]) | x | STD[a] / STD[b] |
| = | 0.6679 | |
| ER[a] | = | Expected return on investing in Procure Space |
| ER[b] | = | Expected return on market index or selected benchmark |
| STD[a] | = | Standard Deviation of returns on Procure Space |
| STD[b] | = | Standard Deviation of selected market or benchmark |
| RFR | = | Risk Free Rate of return. Typically T-Bill Rate |
Total Risk Alpha Peers Comparison
Total Risk Alpha Relative To Other Indicators
Procure Space ETF takes the leading position in total risk alpha against similar ETFs. It is currently under evaluation in maximum drawdown against similar ETFs producing
16.43 in Maximum Drawdown for each unit of Total Risk Alpha. The spread between Maximum Drawdown and Total Risk Alpha for Procure Space ETF sits at
16.43 The benchmark portfolio represents the market risk matched to the total risk of the stock ETF or fund.
Compare Procure Space to Peers
Other Technical Indicators