Correlation Between Amundi Stoxx and UBS Fund
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By analyzing existing cross correlation between Amundi Stoxx Europe and UBS Fund Solutions, you can compare the effects of market volatilities on Amundi Stoxx and UBS Fund 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 Amundi Stoxx with a short position of UBS Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi Stoxx and UBS Fund.
Diversification Opportunities for Amundi Stoxx and UBS Fund
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Amundi and UBS is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Amundi Stoxx Europe and UBS Fund Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS Fund Solutions and Amundi Stoxx 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 Amundi Stoxx Europe are associated (or correlated) with UBS Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS Fund Solutions has no effect on the direction of Amundi Stoxx i.e., Amundi Stoxx and UBS Fund go up and down completely randomly.
Pair Corralation between Amundi Stoxx and UBS Fund
Assuming the 90 days trading horizon Amundi Stoxx is expected to generate 1.35 times less return on investment than UBS Fund. But when comparing it to its historical volatility, Amundi Stoxx Europe is 1.61 times less risky than UBS Fund. It trades about 0.08 of its potential returns per unit of risk. UBS Fund Solutions is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 4,449 in UBS Fund Solutions on September 14, 2024 and sell it today you would earn a total of 889.00 from holding UBS Fund Solutions or generate 19.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.64% |
| Values | Daily Returns |
Amundi Stoxx Europe vs. UBS Fund Solutions
Performance |
| Timeline |
| Amundi Stoxx Europe |
| UBS Fund Solutions |
Amundi Stoxx and UBS Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amundi Stoxx and UBS Fund
The main advantage of trading using opposite Amundi Stoxx and UBS Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi Stoxx position performs unexpectedly, UBS Fund 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 Fund will offset losses from the drop in UBS Fund's long position.| Amundi Stoxx vs. Amundi MSCI Europe | Amundi Stoxx vs. Amundi SP 500 | Amundi Stoxx vs. Amundi Index Solutions | Amundi Stoxx vs. Amundi Euro Stoxx |
| UBS Fund vs. UBS Barclays Liquid | UBS Fund vs. UBS ETF Public | UBS Fund vs. UBS ETF SICAV | UBS Fund vs. UBS Fund Solutions |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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