Correlation Between DAX Index and UBS ETF
Specify exactly 2 symbols:
By analyzing existing cross correlation between DAX Index and UBS ETF Public, you can compare the effects of market volatilities on DAX Index and UBS ETF 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 DAX Index with a short position of UBS ETF. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and UBS ETF.
Diversification Opportunities for DAX Index and UBS ETF
Pay attention - limited upside
The 3 months correlation between DAX and UBS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and UBS ETF Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS ETF Public and DAX Index 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 DAX Index are associated (or correlated) with UBS ETF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS ETF Public has no effect on the direction of DAX Index i.e., DAX Index and UBS ETF go up and down completely randomly.
Pair Corralation between DAX Index and UBS ETF
If you would invest 1,990,914 in DAX Index on December 28, 2024 and sell it today you would earn a total of 276,960 from holding DAX Index or generate 13.91% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
DAX Index vs. UBS ETF Public
Performance |
Timeline |
DAX Index and UBS ETF Volatility Contrast
Predicted Return Density |
Returns |
DAX Index
Pair trading matchups for DAX Index
UBS ETF Public
Pair trading matchups for UBS ETF
Pair Trading with DAX Index and UBS ETF
The main advantage of trading using opposite DAX Index and UBS ETF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, UBS ETF 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 UBS ETF will offset losses from the drop in UBS ETF's long position.DAX Index vs. Cembra Money Bank | DAX Index vs. REGAL HOTEL INTL | DAX Index vs. COVIVIO HOTELS INH | DAX Index vs. Preferred Bank |
UBS ETF vs. UBS Barclays Liquid | UBS ETF vs. UBS ETF Public | UBS ETF vs. UBS ETF SICAV | UBS ETF vs. UBS Fund Solutions |
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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Other Complementary Tools
Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
FinTech Suite Use AI to screen and filter profitable investment opportunities | |
Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
Money Managers Screen money managers from public funds and ETFs managed around the world |