Correlation Between UBS and USCF SummerHaven
Can any of the company-specific risk be diversified away by investing in both UBS and USCF SummerHaven 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 USCF SummerHaven into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between UBS and USCF SummerHaven Dynamic, you can compare the effects of market volatilities on UBS and USCF SummerHaven 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 USCF SummerHaven. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS and USCF SummerHaven.
Diversification Opportunities for UBS and USCF SummerHaven
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UBS and USCF is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding UBS and USCF SummerHaven Dynamic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on USCF SummerHaven Dynamic 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 USCF SummerHaven. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of USCF SummerHaven Dynamic has no effect on the direction of UBS i.e., UBS and USCF SummerHaven go up and down completely randomly.
Pair Corralation between UBS and USCF SummerHaven
If you would invest (100.00) in UBS on January 9, 2025 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 |
UBS vs. USCF SummerHaven Dynamic
Performance |
| Timeline |
| UBS |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| USCF SummerHaven Dynamic |
UBS and USCF SummerHaven Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS and USCF SummerHaven
The main advantage of trading using opposite UBS and USCF SummerHaven positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS position performs unexpectedly, USCF SummerHaven 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 USCF SummerHaven will offset losses from the drop in USCF SummerHaven's long position.| UBS vs. First Trust Emerging | UBS vs. First Trust Income | UBS vs. First Trust SSI | UBS vs. First Trust Indxx |
| USCF SummerHaven vs. First Trust Emerging | USCF SummerHaven vs. First Trust Income | USCF SummerHaven vs. First Trust SSI | USCF SummerHaven vs. First Trust Indxx |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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