Correlation Between SPDR FTSE and UBS Property
Can any of the company-specific risk be diversified away by investing in both SPDR FTSE and UBS Property 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 SPDR FTSE and UBS Property into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SPDR FTSE UK and UBS Property, you can compare the effects of market volatilities on SPDR FTSE and UBS Property 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 SPDR FTSE with a short position of UBS Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPDR FTSE and UBS Property.
Diversification Opportunities for SPDR FTSE and UBS Property
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SPDR and UBS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SPDR FTSE UK and UBS Property in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS Property and SPDR FTSE 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 SPDR FTSE UK are associated (or correlated) with UBS Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS Property has no effect on the direction of SPDR FTSE i.e., SPDR FTSE and UBS Property go up and down completely randomly.
Pair Corralation between SPDR FTSE and UBS Property
If you would invest 6,660 in UBS Property on September 21, 2024 and sell it today you would earn a total of 520.00 from holding UBS Property or generate 7.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 2.27% |
| Values | Daily Returns |
SPDR FTSE UK vs. UBS Property
Performance |
| Timeline |
| SPDR FTSE UK |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| UBS Property |
SPDR FTSE and UBS Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SPDR FTSE and UBS Property
The main advantage of trading using opposite SPDR FTSE and UBS Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPDR FTSE position performs unexpectedly, UBS Property 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 Property will offset losses from the drop in UBS Property's long position.| SPDR FTSE vs. SPDR MSCI Europe | SPDR FTSE vs. SPDR SP Utilities | SPDR FTSE vs. SPDR MSCI Europe | SPDR FTSE vs. SPDR MSCI EM |
| UBS Property vs. SPDR Dow Jones | UBS Property vs. Baloise Holding AG | UBS Property vs. Banque Cantonale du | UBS Property vs. Xtrackers 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 Global Correlations module to find global opportunities by holding instruments from different markets.
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