Correlation Between UBS Fund and BNP Paribas
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By analyzing existing cross correlation between UBS Fund Solutions and BNP Paribas Easy, you can compare the effects of market volatilities on UBS Fund and BNP Paribas 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 BNP Paribas. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS Fund and BNP Paribas.
Diversification Opportunities for UBS Fund and BNP Paribas
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between UBS and BNP is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding UBS Fund Solutions and BNP Paribas Easy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BNP Paribas Easy 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 BNP Paribas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BNP Paribas Easy has no effect on the direction of UBS Fund i.e., UBS Fund and BNP Paribas go up and down completely randomly.
Pair Corralation between UBS Fund and BNP Paribas
Assuming the 90 days trading horizon UBS Fund Solutions is expected to generate 0.86 times more return on investment than BNP Paribas. However, UBS Fund Solutions is 1.16 times less risky than BNP Paribas. It trades about 0.29 of its potential returns per unit of risk. BNP Paribas Easy is currently generating about 0.08 per unit of risk. If you would invest 4,947 in UBS Fund Solutions on September 1, 2024 and sell it today you would earn a total of 264.00 from holding UBS Fund Solutions or generate 5.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
UBS Fund Solutions vs. BNP Paribas Easy
Performance |
| Timeline |
| UBS Fund Solutions |
| BNP Paribas Easy |
UBS Fund and BNP Paribas Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS Fund and BNP Paribas
The main advantage of trading using opposite UBS Fund and BNP Paribas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS Fund position performs unexpectedly, BNP Paribas 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 BNP Paribas will offset losses from the drop in BNP Paribas' 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 |
| BNP Paribas vs. BNP Paribas Easy | BNP Paribas vs. BNP Paribas Easy | BNP Paribas vs. BNP Paribas Easy | BNP Paribas vs. BNP Paribas Easy |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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