Correlation Between UBS Money and Cobas Global
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By analyzing existing cross correlation between UBS Money Market and Cobas Global PP, you can compare the effects of market volatilities on UBS Money and Cobas Global 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 Cobas Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS Money and Cobas Global.
Diversification Opportunities for UBS Money and Cobas Global
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between UBS and Cobas is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding UBS Money Market and Cobas Global PP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cobas Global PP 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 Market are associated (or correlated) with Cobas Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cobas Global PP has no effect on the direction of UBS Money i.e., UBS Money and Cobas Global go up and down completely randomly.
Pair Corralation between UBS Money and Cobas Global
Assuming the 90 days trading horizon UBS Money Market is expected to generate 0.51 times more return on investment than Cobas Global. However, UBS Money Market is 1.94 times less risky than Cobas Global. It trades about 0.26 of its potential returns per unit of risk. Cobas Global PP is currently generating about 0.11 per unit of risk. If you would invest 187,865 in UBS Money Market on September 12, 2024 and sell it today you would earn a total of 4,346 from holding UBS Money Market or generate 2.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 86.96% |
| Values | Daily Returns |
UBS Money Market vs. Cobas Global PP
Performance |
| Timeline |
| UBS Money Market |
| Cobas Global PP |
UBS Money and Cobas Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS Money and Cobas Global
The main advantage of trading using opposite UBS Money and Cobas Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS Money position performs unexpectedly, Cobas Global 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 Cobas Global will offset losses from the drop in Cobas Global's long position.| UBS Money vs. Groupama Entreprises N | UBS Money vs. Renaissance Europe C | UBS Money vs. Superior Plus Corp | UBS Money vs. Origin Agritech |
| Cobas Global vs. Swedbank Robur Corporate | Cobas Global vs. UBS Money Market | Cobas Global vs. Algebris UCITS Funds | Cobas Global vs. BlackRock Global Funds |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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