Correlation Between Amundi Euro and UBS Fund
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By analyzing existing cross correlation between Amundi Euro Stoxx and UBS Fund Solutions, you can compare the effects of market volatilities on Amundi Euro 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 Euro with a short position of UBS Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi Euro and UBS Fund.
Diversification Opportunities for Amundi Euro and UBS Fund
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Amundi and UBS is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Amundi Euro Stoxx 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 Euro 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 Euro Stoxx 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 Euro i.e., Amundi Euro and UBS Fund go up and down completely randomly.
Pair Corralation between Amundi Euro and UBS Fund
Assuming the 90 days trading horizon Amundi Euro Stoxx is expected to under-perform the UBS Fund. In addition to that, Amundi Euro is 1.02 times more volatile than UBS Fund Solutions. It trades about -0.2 of its total potential returns per unit of risk. UBS Fund Solutions is currently generating about 0.16 per unit of volatility. If you would invest 5,033 in UBS Fund Solutions on August 30, 2024 and sell it today you would earn a total of 141.00 from holding UBS Fund Solutions or generate 2.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Amundi Euro Stoxx vs. UBS Fund Solutions
Performance |
| Timeline |
| Amundi Euro Stoxx |
| UBS Fund Solutions |
Amundi Euro and UBS Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amundi Euro and UBS Fund
The main advantage of trading using opposite Amundi Euro and UBS Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi Euro 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 Euro vs. Amundi MSCI Europe | Amundi Euro vs. Amundi SP 500 | Amundi Euro vs. Amundi Index Solutions | Amundi Euro vs. Amundi Index Solutions |
| UBS Fund vs. Xtrackers Nikkei 225 | UBS Fund vs. iShares VII PLC | UBS Fund vs. Vanguard Funds Public | UBS Fund vs. iShares Nikkei 225 |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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