UBS Plc Correlations

UC07 Etf   9,277  74.00  0.79%   
The current 90-days correlation between UBS plc and Leverage Shares 3x is -0.08 (i.e., Good diversification). The correlation of UBS Plc is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

UBS Plc Correlation With Market

Poor diversification

The correlation between UBS plc and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UBS plc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to UBS Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace UBS Plc when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back UBS Plc - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling UBS plc to buy it.

Moving together with UBS Etf

  0.82QQQ3 WisdomTree NASDAQ 100PairCorr
  0.913USL WisdomTree SP 500PairCorr
  0.8XLKS Invesco TechnologyPairCorr
  0.93XLKQ Invesco TechnologyPairCorr
  0.82XDWT Xtrackers MSCI WorldPairCorr
  0.82WTEC SSgA SPDR ETFsPairCorr
  0.82TNOW Lyxor MSCI WorldPairCorr
  0.86SMT Scottish MortgagePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
3ARE3PLT
NVD2NVD3
3CON3PLT
3ARE3CON
SGBP3PLT
SGBP3CON
  
High negative correlations   
NVD33LNG
NVD23LNG
SGBP3LNG
3LNG3CON
3UBESGBP
3UBE3PLT

UBS Plc Constituents Risk-Adjusted Indicators

There is a big difference between UBS Etf performing well and UBS Plc ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze UBS Plc's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
3PLT  8.28  4.40  0.53 (1.31) 5.68 
 20.13 
 76.95 
NGSP  2.40 (0.04) 0.00 (0.07) 0.00 
 6.05 
 15.34 
3CON  11.64  3.36  0.25  2.81  11.87 
 29.54 
 99.07 
3SME  2.93 (0.28) 0.00  52.17  0.00 
 5.63 
 27.04 
3LNG  6.60 (0.37) 0.00 (0.38) 0.00 
 18.04 
 42.75 
3ARE  4.69  1.40  0.23  1.10  5.10 
 10.60 
 40.25 
SGBP  0.33  0.06 (0.19)(1.02) 0.23 
 0.98 
 2.11 
NVD3  5.70  1.90  0.20 (0.68) 6.12 
 12.94 
 39.29 
NVD2  3.94  0.81  0.15  2.06  4.54 
 8.22 
 26.09 
3UBE  4.94  0.11  0.01  0.23  8.05 
 10.10 
 60.76 

Be your own money manager

Our tools can tell you how much better you can do entering a position in UBS Plc without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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