Correlation Between UBS and VanEck CMCI
Can any of the company-specific risk be diversified away by investing in both UBS and VanEck CMCI 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 UBS and VanEck CMCI into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between UBS and VanEck CMCI Commodity, you can compare the effects of market volatilities on UBS and VanEck CMCI 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 UBS with a short position of VanEck CMCI. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS and VanEck CMCI.
Diversification Opportunities for UBS and VanEck CMCI
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UBS and VanEck is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding UBS and VanEck CMCI Commodity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VanEck CMCI Commodity and UBS 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 UBS are associated (or correlated) with VanEck CMCI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VanEck CMCI Commodity has no effect on the direction of UBS i.e., UBS and VanEck CMCI go up and down completely randomly.
Pair Corralation between UBS and VanEck CMCI
If you would invest 2,438 in VanEck CMCI Commodity on November 30, 2024 and sell it today you would earn a total of 58.00 from holding VanEck CMCI Commodity or generate 2.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
UBS vs. VanEck CMCI Commodity
Performance |
| Timeline |
| UBS |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| VanEck CMCI Commodity |
UBS and VanEck CMCI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS and VanEck CMCI
The main advantage of trading using opposite UBS and VanEck CMCI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS position performs unexpectedly, VanEck CMCI 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 VanEck CMCI will offset losses from the drop in VanEck CMCI's long position.| UBS vs. iShares Bloomberg Roll | UBS vs. GraniteShares Bloomberg Commodity | UBS vs. abrdn Bloomberg All | UBS vs. USCF SummerHaven Dynamic |
| VanEck CMCI vs. Strategy Shares | VanEck CMCI vs. Freedom Day Dividend | VanEck CMCI vs. Franklin Templeton ETF | VanEck CMCI vs. iShares MSCI China |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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