Correlation Between UBS Money and CM AM
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By analyzing existing cross correlation between UBS Money Market and CM AM Monplus NE, you can compare the effects of market volatilities on UBS Money and CM AM 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 CM AM. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS Money and CM AM.
Diversification Opportunities for UBS Money and CM AM
Almost no diversification
The 3 months correlation between UBS and 0P0001F96C is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding UBS Money Market and CM AM Monplus NE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CM AM Monplus 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 CM AM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CM AM Monplus has no effect on the direction of UBS Money i.e., UBS Money and CM AM go up and down completely randomly.
Pair Corralation between UBS Money and CM AM
Assuming the 90 days trading horizon UBS Money Market is expected to generate 35.59 times more return on investment than CM AM. However, UBS Money is 35.59 times more volatile than CM AM Monplus NE. It trades about 0.08 of its potential returns per unit of risk. CM AM Monplus NE is currently generating about 1.41 per unit of risk. If you would invest 180,786 in UBS Money Market on September 12, 2024 and sell it today you would earn a total of 10,483 from holding UBS Money Market or generate 5.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 40.95% |
| Values | Daily Returns |
UBS Money Market vs. CM AM Monplus NE
Performance |
| Timeline |
| UBS Money Market |
| CM AM Monplus |
UBS Money and CM AM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS Money and CM AM
The main advantage of trading using opposite UBS Money and CM AM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS Money position performs unexpectedly, CM AM 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 CM AM will offset losses from the drop in CM AM'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 |
| CM AM vs. Groupama Entreprises N | CM AM vs. Renaissance Europe C | CM AM vs. Superior Plus Corp | CM AM vs. Origin Agritech |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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