Correlation Between UBS Fund and Amundi Euro
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By analyzing existing cross correlation between UBS Fund Solutions and Amundi Euro Stoxx, you can compare the effects of market volatilities on UBS Fund and Amundi Euro 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 Euro. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS Fund and Amundi Euro.
Diversification Opportunities for UBS Fund and Amundi Euro
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between UBS and Amundi is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding UBS Fund Solutions and Amundi Euro Stoxx in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi Euro Stoxx 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 Euro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi Euro Stoxx has no effect on the direction of UBS Fund i.e., UBS Fund and Amundi Euro go up and down completely randomly.
Pair Corralation between UBS Fund and Amundi Euro
Assuming the 90 days trading horizon UBS Fund Solutions is expected to generate 1.2 times more return on investment than Amundi Euro. However, UBS Fund is 1.2 times more volatile than Amundi Euro Stoxx. It trades about 0.06 of its potential returns per unit of risk. Amundi Euro Stoxx is currently generating about 0.0 per unit of risk. If you would invest 4,409 in UBS Fund Solutions on September 12, 2024 and sell it today you would earn a total of 893.00 from holding UBS Fund Solutions or generate 20.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
UBS Fund Solutions vs. Amundi Euro Stoxx
Performance |
| Timeline |
| UBS Fund Solutions |
| Amundi Euro Stoxx |
UBS Fund and Amundi Euro Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS Fund and Amundi Euro
The main advantage of trading using opposite UBS Fund and Amundi Euro positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS Fund position performs unexpectedly, Amundi Euro 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 Euro will offset losses from the drop in Amundi Euro'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 Euro vs. UBS Fund Solutions | Amundi Euro vs. Xtrackers II | Amundi Euro vs. Xtrackers Nikkei 225 | Amundi Euro vs. iShares VII 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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