UBS ETF Correlations

SRWG Etf

1,677 11.80 0.71%

The current 90-days correlation between UBS ETF plc and UBS ETF is 0.07 (i.e., Significant diversification). The correlation of UBS ETF is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

UBS ETF Correlation With Market

Poor diversification

The correlation between UBS ETF plc and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UBS ETF plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to UBS ETF could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace UBS ETF when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back UBS ETF - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling UBS ETF plc to buy it.

Moving together with UBS Etf

0.85	3ARE	Leverage Shares 3x	Pair Corr
0.79	3PLT	Leverage Shares 3x	Pair Corr
0.7	3CON	Leverage Shares 3x	Pair Corr
0.77	NVD3	Leverage Shares 3x	Pair Corr
0.77	3NVD	Leverage Shares 3x	Pair Corr
0.79	NVD2	Leverage Shares 2x	Pair Corr
0.93	QQQ5	Leverage Shares 5x	Pair Corr
0.94	5QQQ	Leverage Shares 5x	Pair Corr

Related Correlations Analysis

	CHTE	AUGA	S5EE	UD07	UC85	UB23	CNSG	SRWG	ENGB
CHTE		0.66	0.67	0.9	-0.45	0.68	1.0	0.68	0.45	CHTE
AUGA	0.66		0.83	0.8	-0.41	0.89	0.65	0.87	0.13	AUGA
S5EE	0.67	0.83		0.83	-0.77	0.96	0.67	0.87	0.21	S5EE
UD07	0.9	0.8	0.83		-0.61	0.87	0.9	0.77	0.47	UD07
UC85	-0.45	-0.41	-0.77	-0.61		-0.68	-0.48	-0.48	-0.22	UC85
UB23	0.68	0.89	0.96	0.87	-0.68		0.67	0.87	0.21	UB23
CNSG	1.0	0.65	0.67	0.9	-0.48	0.67		0.67	0.46	CNSG
SRWG	0.68	0.87	0.87	0.77	-0.48	0.87	0.67		0.28	SRWG
ENGB	0.45	0.13	0.21	0.47	-0.22	0.21	0.46	0.28		ENGB
	CHTE	AUGA	S5EE	UD07	UC85	UB23	CNSG	SRWG	ENGB

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CNSG	+ 1.0	CHTE
UB23	+ 0.96	S5EE
UD07	+ 0.9	CHTE
CNSG	+ 0.9	UD07
UB23	+ 0.89	AUGA
SRWG	+ 0.87	AUGA

High negative correlations

UC85	- 0.77	S5EE
UB23	- 0.68	UC85
UC85	- 0.61	UD07
SRWG	- 0.48	UC85
CNSG	- 0.48	UC85
UC85	- 0.45	CHTE

UBS ETF Constituents Risk-Adjusted Indicators

There is a big difference between UBS Etf performing well and UBS ETF ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze UBS ETF's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CHTE	1.70	0.29	0.08	3.19	1.91	(1.83)	4.94	(2.79)	12.77
AUGA	0.53	0.05	(0.05)	0.24	0.40	(0.59)	1.51	(0.94)	2.88
S5EE	0.57	0.07	0.03	0.25	0.43	(0.65)	1.53	(0.99)	4.19
UD07	0.52	0.14	0.01	(1.71)	0.44	(0.64)	1.26	(1.19)	3.99
UC85	0.27	(0.02)	0.00	0.69	0.00	0.00	0.50	(0.52)	1.58
UB23	0.57	0.13	0.11	0.40	0.28	(0.65)	1.49	(0.94)	2.91
CNSG	1.62	0.28	0.07	3.62	2.18	(1.73)	4.29	(3.21)	16.60
SRWG	0.64	0.00	(0.05)	0.13	0.66	(0.69)	1.56	(1.07)	3.89
ENGB	1.15	0.01	(0.07)	(0.59)	1.66	(1.13)	2.35	(2.70)	8.35

Be your own money manager

Our tools can tell you how much better you can do entering a position in UBS ETF without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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