Correlation Between UBS Fund and Global X
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By analyzing existing cross correlation between UBS Fund Solutions and Global X NASDAQ, you can compare the effects of market volatilities on UBS Fund and Global X 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 Global X. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS Fund and Global X.
Diversification Opportunities for UBS Fund and Global X
Very weak diversification
The 3 months correlation between UBS and Global is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding UBS Fund Solutions and Global X NASDAQ in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global X NASDAQ 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 Global X. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global X NASDAQ has no effect on the direction of UBS Fund i.e., UBS Fund and Global X go up and down completely randomly.
Pair Corralation between UBS Fund and Global X
Assuming the 90 days trading horizon UBS Fund Solutions is expected to generate 0.98 times more return on investment than Global X. However, UBS Fund Solutions is 1.02 times less risky than Global X. It trades about 0.21 of its potential returns per unit of risk. Global X NASDAQ is currently generating about 0.04 per unit of risk. If you would invest 5,102 in UBS Fund Solutions on September 13, 2024 and sell it today you would earn a total of 201.00 from holding UBS Fund Solutions or generate 3.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
UBS Fund Solutions vs. Global X NASDAQ
Performance |
| Timeline |
| UBS Fund Solutions |
| Global X NASDAQ |
UBS Fund and Global X Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS Fund and Global X
The main advantage of trading using opposite UBS Fund and Global X positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS Fund position performs unexpectedly, Global X 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 Global X will offset losses from the drop in Global X'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 |
| Global X vs. UBS Fund Solutions | Global X vs. Xtrackers II | Global X vs. Xtrackers Nikkei 225 | Global X 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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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