Correlation Between UBS Fund and Amundi Index
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By analyzing existing cross correlation between UBS Fund Solutions and Amundi Index Solutions, you can compare the effects of market volatilities on UBS Fund and Amundi Index 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 Fund with a short position of Amundi Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS Fund and Amundi Index.
Diversification Opportunities for UBS Fund and Amundi Index
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between UBS and Amundi is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding UBS Fund Solutions and Amundi Index Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi Index Solutions and UBS Fund 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 Fund Solutions are associated (or correlated) with Amundi Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi Index Solutions has no effect on the direction of UBS Fund i.e., UBS Fund and Amundi Index go up and down completely randomly.
Pair Corralation between UBS Fund and Amundi Index
Assuming the 90 days trading horizon UBS Fund Solutions is expected to generate 0.94 times more return on investment than Amundi Index. However, UBS Fund Solutions is 1.06 times less risky than Amundi Index. It trades about 0.05 of its potential returns per unit of risk. Amundi Index Solutions is currently generating about 0.04 per unit of risk. If you would invest 4,099 in UBS Fund Solutions on September 3, 2024 and sell it today you would earn a total of 1,112 from holding UBS Fund Solutions or generate 27.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.8% |
| Values | Daily Returns |
UBS Fund Solutions vs. Amundi Index Solutions
Performance |
| Timeline |
| UBS Fund Solutions |
| Amundi Index Solutions |
UBS Fund and Amundi Index Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS Fund and Amundi Index
The main advantage of trading using opposite UBS Fund and Amundi Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS Fund position performs unexpectedly, Amundi Index 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 Amundi Index will offset losses from the drop in Amundi Index's long position.| UBS Fund vs. UBS Barclays Liquid | UBS Fund vs. UBS ETF Public | UBS Fund vs. UBS ETF SICAV | UBS Fund vs. UBS Fund Solutions |
| Amundi Index vs. Amundi MSCI Europe | Amundi Index vs. Amundi SP 500 | Amundi Index vs. Amundi Index Solutions | Amundi Index vs. Amundi Euro Stoxx |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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