UBS ETRACS Correlations

WTID Etf

USD 17.99 0.12 0.66%

The current 90-days correlation between UBS ETRACS and First Trust Exchange Traded is 0.01 (i.e., Significant diversification). The correlation of UBS ETRACS 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.

UBS ETRACS Correlation With Market

Significant diversification

The correlation between UBS ETRACS and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UBS ETRACS and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in UBS ETRACS . Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving against UBS Etf

0.62	MDY	SPDR SP MIDCAP	Pair Corr
0.56	SLYG	SPDR SP 600	Pair Corr
0.54	MDEV	First Trust Exchange	Pair Corr
0.46	SLYV	SPDR SP 600	Pair Corr
0.39	KRMA	Global X Conscious	Pair Corr
0.38	VUSE	Vident Core Equity	Pair Corr
0.33	RFDA	RiverFront Dynamic	Pair Corr
0.64	ALTY	Global X Alternative	Pair Corr
0.62	EZM	WisdomTree MidCap	Pair Corr
0.6	BUFS	BUFS	Pair Corr
0.52	SMCP	AlphaMark Actively	Pair Corr
0.52	IJR	iShares Core SP	Pair Corr
0.48	FSCC	Federated Hermes ETF	Pair Corr
0.47	VIOV	Vanguard SP Small	Pair Corr
0.44	NIXT	Research Affiliates	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.73	-0.47	-0.52	0.54	0.75	0.54	0.6	-0.18	-0.65	META
MSFT	0.73		-0.47	-0.25	0.54	0.46	0.64	0.36	-0.04	-0.48	MSFT
UBER	-0.47	-0.47		0.65	-0.31	-0.21	-0.67	-0.29	0.36	0.78	UBER
F	-0.52	-0.25	0.65		0.06	-0.32	-0.13	-0.07	0.12	0.9	F
T	0.54	0.54	-0.31	0.06		0.36	0.71	0.55	-0.17	-0.16	T
A	0.75	0.46	-0.21	-0.32	0.36		0.31	0.7	-0.22	-0.38	A
CRM	0.54	0.64	-0.67	-0.13	0.71	0.31		0.56	-0.37	-0.37	CRM
JPM	0.6	0.36	-0.29	-0.07	0.55	0.7	0.56		-0.59	-0.24	JPM
MRK	-0.18	-0.04	0.36	0.12	-0.17	-0.22	-0.37	-0.59		0.19	MRK
XOM	-0.65	-0.48	0.78	0.9	-0.16	-0.38	-0.37	-0.24	0.19		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.9	F
XOM	+ 0.78	UBER
A	+ 0.75	META
MSFT	+ 0.73	META
CRM	+ 0.71	T
JPM	+ 0.7	A

High negative correlations

CRM	- 0.67	UBER
XOM	- 0.65	META
MRK	- 0.59	JPM
F	- 0.52	META
XOM	- 0.48	MSFT
UBER	- 0.47	MSFT

UBS ETRACS Competition Risk-Adjusted Indicators

There is a big difference between UBS Etf performing well and UBS ETRACS 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 ETRACS'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
META	1.39	0.25	0.13	0.74	1.40	(1.59)	3.43	(2.31)	7.43
MSFT	1.02	0.06	(0.01)	0.63	1.57	(1.01)	2.20	(2.14)	7.31
UBER	1.58	(0.26)	0.00	(2.57)	0.00	0.00	2.67	(5.35)	12.29
F	1.49	(0.13)	0.00	(0.15)	0.00	0.00	2.57	(2.90)	11.21
T	1.01	0.10	0.05	0.27	1.10	(1.12)	1.91	(1.84)	7.94
A	1.18	0.12	0.06	0.33	1.13	(1.41)	2.81	(2.16)	8.06
CRM	1.51	0.32	0.16	1.11	1.42	(1.76)	3.70	(2.88)	14.80
JPM	1.05	0.26	0.16	1.00	1.05	(1.24)	1.92	(1.42)	15.87
MRK	1.03	(0.13)	0.00	(0.52)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.18)	0.00	(0.33)	0.00	0.00	1.71	(1.74)	6.06

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