Correlation Between UBS Plc and UBS ETF
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By analyzing existing cross correlation between UBS plc and UBS ETF Public, you can compare the effects of market volatilities on UBS Plc and UBS ETF 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 Plc with a short position of UBS ETF. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS Plc and UBS ETF.
Diversification Opportunities for UBS Plc and UBS ETF
Almost no diversification
The 3 months correlation between UBS and UBS is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding UBS plc and UBS ETF Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS ETF Public and UBS Plc 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 plc are associated (or correlated) with UBS ETF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS ETF Public has no effect on the direction of UBS Plc i.e., UBS Plc and UBS ETF go up and down completely randomly.
Pair Corralation between UBS Plc and UBS ETF
Assuming the 90 days trading horizon UBS plc is expected to generate 2.59 times more return on investment than UBS ETF. However, UBS Plc is 2.59 times more volatile than UBS ETF Public. It trades about 0.16 of its potential returns per unit of risk. UBS ETF Public is currently generating about 0.06 per unit of risk. If you would invest 6,396 in UBS plc on September 12, 2024 and sell it today you would earn a total of 2,928 from holding UBS plc or generate 45.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
UBS plc vs. UBS ETF Public
Performance |
| Timeline |
| UBS plc |
| UBS ETF Public |
UBS Plc and UBS ETF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS Plc and UBS ETF
The main advantage of trading using opposite UBS Plc and UBS ETF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS Plc position performs unexpectedly, UBS ETF 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 ETF will offset losses from the drop in UBS ETF's long position.| UBS Plc vs. UBS Barclays Liquid | UBS Plc vs. UBS ETF Public | UBS Plc vs. UBS ETF SICAV | UBS Plc vs. UBS Fund Solutions |
| UBS ETF vs. UBS Barclays Liquid | UBS ETF vs. UBS ETF SICAV | UBS ETF vs. UBS Fund Solutions | UBS ETF vs. UBS plc |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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