Correlation Between UBS Fund and LYXOR EURO
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By analyzing existing cross correlation between UBS Fund Solutions and LYXOR EURO STOXX, you can compare the effects of market volatilities on UBS Fund and LYXOR 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 LYXOR EURO. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS Fund and LYXOR EURO.
Diversification Opportunities for UBS Fund and LYXOR EURO
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between UBS and LYXOR is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding UBS Fund Solutions and LYXOR EURO STOXX in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LYXOR 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 LYXOR EURO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LYXOR EURO STOXX has no effect on the direction of UBS Fund i.e., UBS Fund and LYXOR EURO go up and down completely randomly.
Pair Corralation between UBS Fund and LYXOR EURO
Assuming the 90 days trading horizon UBS Fund Solutions is expected to generate 0.42 times more return on investment than LYXOR EURO. However, UBS Fund Solutions is 2.41 times less risky than LYXOR EURO. It trades about 0.39 of its potential returns per unit of risk. LYXOR EURO STOXX is currently generating about -0.01 per unit of risk. If you would invest 4,967 in UBS Fund Solutions on September 5, 2024 and sell it today you would earn a total of 427.00 from holding UBS Fund Solutions or generate 8.6% 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. LYXOR EURO STOXX
Performance |
| Timeline |
| UBS Fund Solutions |
| LYXOR EURO STOXX |
UBS Fund and LYXOR EURO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS Fund and LYXOR EURO
The main advantage of trading using opposite UBS Fund and LYXOR EURO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS Fund position performs unexpectedly, LYXOR 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 LYXOR EURO will offset losses from the drop in LYXOR 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 |
| LYXOR EURO vs. UBS Fund Solutions | LYXOR EURO vs. Xtrackers II | LYXOR EURO vs. Xtrackers Nikkei 225 | LYXOR 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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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