Correlation Between Global X and UBS Fund
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By analyzing existing cross correlation between Global X Cloud and UBS Fund Solutions, you can compare the effects of market volatilities on Global X 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 Global X with a short position of UBS Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Global X and UBS Fund.
Diversification Opportunities for Global X and UBS Fund
Poor diversification
The 3 months correlation between Global and UBS is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Global X Cloud 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 Global X 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 Global X Cloud 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 Global X i.e., Global X and UBS Fund go up and down completely randomly.
Pair Corralation between Global X and UBS Fund
Assuming the 90 days trading horizon Global X Cloud is expected to generate 1.85 times more return on investment than UBS Fund. However, Global X is 1.85 times more volatile than UBS Fund Solutions. It trades about 0.21 of its potential returns per unit of risk. UBS Fund Solutions is currently generating about 0.28 per unit of risk. If you would invest 1,113 in Global X Cloud on September 14, 2024 and sell it today you would earn a total of 88.00 from holding Global X Cloud or generate 7.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Global X Cloud vs. UBS Fund Solutions
Performance |
| Timeline |
| Global X Cloud |
| UBS Fund Solutions |
Global X and UBS Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Global X and UBS Fund
The main advantage of trading using opposite Global X and UBS Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Global X 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.| Global X vs. UBS Fund Solutions | Global X vs. Xtrackers II | Global X vs. Xtrackers Nikkei 225 | Global X vs. iShares VII PLC |
| 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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