Correlation Between SPDR Gold and UBS Fund
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By analyzing existing cross correlation between SPDR Gold Shares and UBS Fund Solutions, you can compare the effects of market volatilities on SPDR Gold and UBS Fund 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 Gold with a short position of UBS Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of SPDR Gold and UBS Fund.
Diversification Opportunities for SPDR Gold and UBS Fund
Very good diversification
The 3 months correlation between SPDR and UBS is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Gold Shares and UBS Fund Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS Fund Solutions and SPDR Gold 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 Gold Shares are associated (or correlated) with UBS Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS Fund Solutions has no effect on the direction of SPDR Gold i.e., SPDR Gold and UBS Fund go up and down completely randomly.
Pair Corralation between SPDR Gold and UBS Fund
Assuming the 90 days trading horizon SPDR Gold Shares is expected to generate 5.96 times more return on investment than UBS Fund. However, SPDR Gold is 5.96 times more volatile than UBS Fund Solutions. It trades about 0.28 of its potential returns per unit of risk. UBS Fund Solutions is currently generating about 0.04 per unit of risk. If you would invest 23,164 in SPDR Gold Shares on October 21, 2024 and sell it today you would earn a total of 1,095 from holding SPDR Gold Shares or generate 4.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SPDR Gold Shares vs. UBS Fund Solutions
Performance |
| Timeline |
| SPDR Gold Shares |
| UBS Fund Solutions |
SPDR Gold and UBS Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SPDR Gold and UBS Fund
The main advantage of trading using opposite SPDR Gold and UBS Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SPDR Gold position performs unexpectedly, UBS Fund 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 Fund will offset losses from the drop in UBS Fund's long position.| SPDR Gold vs. SPDR Barclays 10 | SPDR Gold vs. SPDR ICE BofA | SPDR Gold vs. SPDR SP Utilities | SPDR Gold vs. SPDR ICE BofA |
| UBS Fund vs. UBS Barclays Liquid | UBS Fund vs. UBS ETF Public | UBS Fund vs. UBS ETF SICAV | UBS Fund vs. UBS Fund Solutions |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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