Correlation Between UBS Money and Templeton Global
Can any of the company-specific risk be diversified away by investing in both UBS Money and Templeton Global 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 Templeton Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between UBS Money Market and Templeton Global Bond, you can compare the effects of market volatilities on UBS Money and Templeton 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 Templeton Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS Money and Templeton Global.
Diversification Opportunities for UBS Money and Templeton Global
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UBS and Templeton is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding UBS Money Market and Templeton Global Bond in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Templeton Global Bond 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 Templeton Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Templeton Global Bond has no effect on the direction of UBS Money i.e., UBS Money and Templeton Global go up and down completely randomly.
Pair Corralation between UBS Money and Templeton Global
If you would invest 180,786 in UBS Money Market on September 14, 2024 and sell it today you would earn a total of 11,210 from holding UBS Money Market or generate 6.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
UBS Money Market vs. Templeton Global Bond
Performance |
| Timeline |
| UBS Money Market |
| Templeton Global Bond |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
UBS Money and Templeton Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS Money and Templeton Global
The main advantage of trading using opposite UBS Money and Templeton Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS Money position performs unexpectedly, Templeton 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 Templeton Global will offset losses from the drop in Templeton Global's long position.| UBS Money vs. Aberdeen Global Asian | UBS Money vs. BGF Global Allocation | UBS Money vs. Cobas Global PP | UBS Money vs. Templeton Global AD |
| Templeton Global vs. UBS Money Market | Templeton Global vs. Swedbank Robur Corporate | Templeton Global vs. BBVA Telecomunicaciones PP | Templeton Global vs. Caixabank Seleccin Tendencias |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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