Correlation Between UBS ETF and Global X
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By analyzing existing cross correlation between UBS ETF Public and Global X Bitcoin, you can compare the effects of market volatilities on UBS ETF and Global X 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 UBS ETF with a short position of Global X. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS ETF and Global X.
Diversification Opportunities for UBS ETF and Global X
Pay attention - limited upside
The 3 months correlation between UBS and Global is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding UBS ETF Public and Global X Bitcoin in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global X Bitcoin and UBS ETF 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 UBS ETF Public are associated (or correlated) with Global X. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global X Bitcoin has no effect on the direction of UBS ETF i.e., UBS ETF and Global X go up and down completely randomly.
Pair Corralation between UBS ETF and Global X
If you would invest 1,994 in Global X Bitcoin on November 2, 2024 and sell it today you would earn a total of 7,671 from holding Global X Bitcoin or generate 384.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
UBS ETF Public vs. Global X Bitcoin
Performance |
| Timeline |
| UBS ETF Public |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| Global X Bitcoin |
UBS ETF and Global X Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS ETF and Global X
The main advantage of trading using opposite UBS ETF and Global X positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS ETF position performs unexpectedly, Global X 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 Global X will offset losses from the drop in Global X's long position.| UBS ETF vs. UBS Barclays Liquid | UBS ETF vs. UBS ETF Public | UBS ETF vs. UBS ETF SICAV | UBS ETF vs. UBS Fund Solutions |
| Global X vs. Global X China | Global X vs. Global X Aave | Global X vs. Global X NASDAQ | Global X vs. Global X Cloud |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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