Correlation Between Amundi SP and UBS Fund
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By analyzing existing cross correlation between Amundi SP 500 and UBS Fund Solutions, you can compare the effects of market volatilities on Amundi SP 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 Amundi SP with a short position of UBS Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amundi SP and UBS Fund.
Diversification Opportunities for Amundi SP and UBS Fund
Very weak diversification
The 3 months correlation between Amundi and UBS is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Amundi SP 500 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 Amundi SP 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 Amundi SP 500 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 Amundi SP i.e., Amundi SP and UBS Fund go up and down completely randomly.
Pair Corralation between Amundi SP and UBS Fund
Assuming the 90 days trading horizon Amundi SP 500 is expected to generate 1.07 times more return on investment than UBS Fund. However, Amundi SP is 1.07 times more volatile than UBS Fund Solutions. It trades about 0.27 of its potential returns per unit of risk. UBS Fund Solutions is currently generating about 0.28 per unit of risk. If you would invest 1,183 in Amundi SP 500 on September 4, 2024 and sell it today you would earn a total of 64.00 from holding Amundi SP 500 or generate 5.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Amundi SP 500 vs. UBS Fund Solutions
Performance |
| Timeline |
| Amundi SP 500 |
| UBS Fund Solutions |
Amundi SP and UBS Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amundi SP and UBS Fund
The main advantage of trading using opposite Amundi SP and UBS Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amundi SP 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.| Amundi SP vs. UBS Fund Solutions | Amundi SP vs. Xtrackers II | Amundi SP vs. Xtrackers Nikkei 225 | Amundi SP vs. iShares VII PLC |
| 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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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