Correlation Between Swedbank Robur and UBS Money
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By analyzing existing cross correlation between Swedbank Robur Corporate and UBS Money Market, you can compare the effects of market volatilities on Swedbank Robur and UBS Money and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Swedbank Robur with a short position of UBS Money. Check out your portfolio center. Please also check ongoing floating volatility patterns of Swedbank Robur and UBS Money.
Diversification Opportunities for Swedbank Robur and UBS Money
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Swedbank and UBS is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding Swedbank Robur Corporate and UBS Money Market in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS Money Market and Swedbank Robur is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Swedbank Robur Corporate are associated (or correlated) with UBS Money. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS Money Market has no effect on the direction of Swedbank Robur i.e., Swedbank Robur and UBS Money go up and down completely randomly.
Pair Corralation between Swedbank Robur and UBS Money
Assuming the 90 days trading horizon Swedbank Robur Corporate is expected to generate 0.34 times more return on investment than UBS Money. However, Swedbank Robur Corporate is 2.93 times less risky than UBS Money. It trades about 0.58 of its potential returns per unit of risk. UBS Money Market is currently generating about 0.14 per unit of risk. If you would invest 971.00 in Swedbank Robur Corporate on September 14, 2024 and sell it today you would earn a total of 15.00 from holding Swedbank Robur Corporate or generate 1.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Swedbank Robur Corporate vs. UBS Money Market
Performance |
| Timeline |
| Swedbank Robur Corporate |
| UBS Money Market |
Swedbank Robur and UBS Money Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Swedbank Robur and UBS Money
The main advantage of trading using opposite Swedbank Robur and UBS Money positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Swedbank Robur position performs unexpectedly, UBS Money can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in UBS Money will offset losses from the drop in UBS Money's long position.| Swedbank Robur vs. Groupama Entreprises N | Swedbank Robur vs. Renaissance Europe C | Swedbank Robur vs. Superior Plus Corp | Swedbank Robur vs. Origin Agritech |
| UBS Money vs. Aberdeen Global Asian | UBS Money vs. BGF Global Allocation | UBS Money vs. Cobas Global PP | UBS Money vs. Templeton Global AD |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Stocks Directory module to find actively traded stocks across global markets.
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