Correlation Between Eaton Vance and UBS
Can any of the company-specific risk be diversified away by investing in both Eaton Vance 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 Eaton Vance and UBS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eaton Vance Enhanced and UBS, you can compare the effects of market volatilities on Eaton Vance 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 Eaton Vance with a short position of UBS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eaton Vance and UBS.
Diversification Opportunities for Eaton Vance and UBS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Eaton and UBS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Eaton Vance Enhanced and UBS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS and Eaton Vance 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 Eaton Vance Enhanced 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 Eaton Vance i.e., Eaton Vance and UBS go up and down completely randomly.
Pair Corralation between Eaton Vance and UBS
If you would invest 1,989 in Eaton Vance Enhanced on September 5, 2024 and sell it today you would earn a total of 180.00 from holding Eaton Vance Enhanced or generate 9.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Eaton Vance Enhanced vs. UBS
Performance |
| Timeline |
| Eaton Vance Enhanced |
| UBS |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Eaton Vance and UBS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eaton Vance and UBS
The main advantage of trading using opposite Eaton Vance and UBS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eaton Vance 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.| Eaton Vance vs. Eaton Vance Tax | Eaton Vance vs. Eaton Vance Risk | Eaton Vance vs. Blackrock Muniholdings Closed | Eaton Vance vs. DTF Tax Free |
| UBS vs. Eaton Vance Enhanced | UBS vs. Columbia Seligman Premium | UBS vs. Eaton Vance Enhanced | UBS vs. John Hancock Premium |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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