Correlation Between Ubs Money and Elfun Trusts
Can any of the company-specific risk be diversified away by investing in both Ubs Money and Elfun Trusts 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 Ubs Money and Elfun Trusts into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ubs Money Series and Elfun Trusts Elfun, you can compare the effects of market volatilities on Ubs Money and Elfun Trusts 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 Money with a short position of Elfun Trusts. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ubs Money and Elfun Trusts.
Diversification Opportunities for Ubs Money and Elfun Trusts
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ubs and Elfun is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ubs Money Series and Elfun Trusts Elfun in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Elfun Trusts Elfun and Ubs Money 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 Money Series are associated (or correlated) with Elfun Trusts. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Elfun Trusts Elfun has no effect on the direction of Ubs Money i.e., Ubs Money and Elfun Trusts go up and down completely randomly.
Pair Corralation between Ubs Money and Elfun Trusts
If you would invest 100.00 in Ubs Money Series on October 13, 2024 and sell it today you would earn a total of 0.00 from holding Ubs Money Series or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Ubs Money Series vs. Elfun Trusts Elfun
Performance |
| Timeline |
| Ubs Money Series |
| Elfun Trusts Elfun |
Ubs Money and Elfun Trusts Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ubs Money and Elfun Trusts
The main advantage of trading using opposite Ubs Money and Elfun Trusts positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ubs Money position performs unexpectedly, Elfun Trusts 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 Elfun Trusts will offset losses from the drop in Elfun Trusts' long position.| Ubs Money vs. Franklin Vertible Securities | Ubs Money vs. Invesco Vertible Securities | Ubs Money vs. Gabelli Convertible And | Ubs Money vs. Virtus Convertible |
| Elfun Trusts vs. Icon Financial Fund | Elfun Trusts vs. John Hancock Financial | Elfun Trusts vs. Financials Ultrasector Profund | Elfun Trusts vs. Putnam Global Financials |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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