Correlation Between UBS Fund and IShares EUR
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By analyzing existing cross correlation between UBS Fund Solutions and iShares EUR Cash, you can compare the effects of market volatilities on UBS Fund and IShares EUR 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 IShares EUR. Check out your portfolio center. Please also check ongoing floating volatility patterns of UBS Fund and IShares EUR.
Diversification Opportunities for UBS Fund and IShares EUR
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between UBS and IShares is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding UBS Fund Solutions and iShares EUR Cash in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iShares EUR Cash 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 IShares EUR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iShares EUR Cash has no effect on the direction of UBS Fund i.e., UBS Fund and IShares EUR go up and down completely randomly.
Pair Corralation between UBS Fund and IShares EUR
Assuming the 90 days trading horizon UBS Fund Solutions is expected to generate 26.32 times more return on investment than IShares EUR. However, UBS Fund is 26.32 times more volatile than iShares EUR Cash. It trades about 0.05 of its potential returns per unit of risk. iShares EUR Cash is currently generating about 0.33 per unit of risk. If you would invest 4,573 in UBS Fund Solutions on October 16, 2024 and sell it today you would earn a total of 566.00 from holding UBS Fund Solutions or generate 12.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 11.19% |
| Values | Daily Returns |
UBS Fund Solutions vs. iShares EUR Cash
Performance |
| Timeline |
| UBS Fund Solutions |
| iShares EUR Cash |
UBS Fund and IShares EUR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UBS Fund and IShares EUR
The main advantage of trading using opposite UBS Fund and IShares EUR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UBS Fund position performs unexpectedly, IShares EUR 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 IShares EUR will offset losses from the drop in IShares EUR'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 |
| IShares EUR vs. iShares Govt Bond | IShares EUR vs. iShares Global AAA AA | IShares EUR vs. iShares Smart City | IShares EUR vs. iShares Broad High |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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