Correlation Between Cboe UK and UBS Barclays
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By analyzing existing cross correlation between Cboe UK Consumer and UBS Barclays Liquid, you can compare the effects of market volatilities on Cboe UK and UBS Barclays 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 Cboe UK with a short position of UBS Barclays. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cboe UK and UBS Barclays.
Diversification Opportunities for Cboe UK and UBS Barclays
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cboe and UBS is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Cboe UK Consumer and UBS Barclays Liquid in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS Barclays Liquid and Cboe UK 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 Cboe UK Consumer are associated (or correlated) with UBS Barclays. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS Barclays Liquid has no effect on the direction of Cboe UK i.e., Cboe UK and UBS Barclays go up and down completely randomly.
Pair Corralation between Cboe UK and UBS Barclays
Assuming the 90 days trading horizon Cboe UK Consumer is expected to generate 2.51 times more return on investment than UBS Barclays. However, Cboe UK is 2.51 times more volatile than UBS Barclays Liquid. It trades about 0.46 of its potential returns per unit of risk. UBS Barclays Liquid is currently generating about 0.22 per unit of risk. If you would invest 2,971,067 in Cboe UK Consumer on September 2, 2024 and sell it today you would earn a total of 289,235 from holding Cboe UK Consumer or generate 9.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cboe UK Consumer vs. UBS Barclays Liquid
Performance |
| Timeline |
Cboe UK and UBS Barclays Volatility Contrast
Predicted Return Density |
| Returns |
Cboe UK Consumer
Pair trading matchups for Cboe UK
UBS Barclays Liquid
Pair trading matchups for UBS Barclays
Pair Trading with Cboe UK and UBS Barclays
The main advantage of trading using opposite Cboe UK and UBS Barclays positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cboe UK position performs unexpectedly, UBS Barclays 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 Barclays will offset losses from the drop in UBS Barclays' long position.| Cboe UK vs. Check Point Software | Cboe UK vs. Evolution Gaming Group | Cboe UK vs. Beeks Trading | Cboe UK vs. Hansa Investment |
| UBS Barclays vs. UBS ETF | UBS Barclays vs. UBS ETF plc | UBS Barclays vs. UBS ETF plc | UBS Barclays 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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