Correlation Between JPM America and UBS Money
Can any of the company-specific risk be diversified away by investing in both JPM America and UBS Money 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 JPM America and UBS Money into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JPM America Equity and UBS Money Market, you can compare the effects of market volatilities on JPM America and UBS Money 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 JPM America with a short position of UBS Money. Check out your portfolio center. Please also check ongoing floating volatility patterns of JPM America and UBS Money.
Diversification Opportunities for JPM America and UBS Money
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between JPM and UBS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding JPM America Equity and UBS Money Market in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS Money Market and JPM America 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 JPM America Equity are associated (or correlated) with UBS Money. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS Money Market has no effect on the direction of JPM America i.e., JPM America and UBS Money go up and down completely randomly.
Pair Corralation between JPM America and UBS Money
If you would invest 36,013 in JPM America Equity on October 25, 2024 and sell it today you would earn a total of 8,912 from holding JPM America Equity or generate 24.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
JPM America Equity vs. UBS Money Market
Performance |
| Timeline |
| JPM America Equity |
| UBS Money Market |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
JPM America and UBS Money Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JPM America and UBS Money
The main advantage of trading using opposite JPM America and UBS Money positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JPM America position performs unexpectedly, UBS Money 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 Money will offset losses from the drop in UBS Money's long position.| JPM America vs. JPM Global Natural | JPM America vs. JPM Europe Small | JPM America vs. JPM Emerging Markets | JPM America vs. Esfera Robotics R |
| UBS Money vs. Esfera Robotics R | UBS Money vs. R co Valor F | UBS Money vs. CM AM Monplus NE | UBS Money vs. IE00B0H4TS55 |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Other Complementary Tools
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |