Correlation Between VanEck CMCI and UBS
Can any of the company-specific risk be diversified away by investing in both VanEck CMCI and UBS at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining VanEck CMCI and UBS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between VanEck CMCI Commodity and UBS, you can compare the effects of market volatilities on VanEck CMCI and UBS 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 VanEck CMCI with a short position of UBS. Check out your portfolio center. Please also check ongoing floating volatility patterns of VanEck CMCI and UBS.
Diversification Opportunities for VanEck CMCI and UBS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between VanEck and UBS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding VanEck CMCI Commodity and UBS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS and VanEck CMCI 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 VanEck CMCI Commodity are associated (or correlated) with UBS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS has no effect on the direction of VanEck CMCI i.e., VanEck CMCI and UBS go up and down completely randomly.
Pair Corralation between VanEck CMCI and UBS
If you would invest (100.00) in UBS on December 1, 2024 and sell it today you would earn a total of 100.00 from holding UBS or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
VanEck CMCI Commodity vs. UBS
Performance |
| Timeline |
| VanEck CMCI Commodity |
| UBS |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
VanEck CMCI and UBS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with VanEck CMCI and UBS
The main advantage of trading using opposite VanEck CMCI and UBS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VanEck CMCI position performs unexpectedly, UBS 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 will offset losses from the drop in UBS's long position.| VanEck CMCI vs. Strategy Shares | VanEck CMCI vs. Freedom Day Dividend | VanEck CMCI vs. Franklin Templeton ETF | VanEck CMCI vs. iShares MSCI China |
| UBS vs. UBS AG London | UBS vs. iShares Bloomberg Roll | UBS vs. GraniteShares Bloomberg Commodity | UBS vs. abrdn Bloomberg All |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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