Correlation Between HSBC MSCI and UBS Fund
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By analyzing existing cross correlation between HSBC MSCI EUROPE and UBS Fund Solutions, you can compare the effects of market volatilities on HSBC MSCI and UBS Fund 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 HSBC MSCI with a short position of UBS Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of HSBC MSCI and UBS Fund.
Diversification Opportunities for HSBC MSCI and UBS Fund
Very weak diversification
The 3 months correlation between HSBC and UBS is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding HSBC MSCI EUROPE and UBS Fund Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS Fund Solutions and HSBC MSCI 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 HSBC MSCI EUROPE are associated (or correlated) with UBS Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS Fund Solutions has no effect on the direction of HSBC MSCI i.e., HSBC MSCI and UBS Fund go up and down completely randomly.
Pair Corralation between HSBC MSCI and UBS Fund
Assuming the 90 days trading horizon HSBC MSCI EUROPE is expected to generate 0.96 times more return on investment than UBS Fund. However, HSBC MSCI EUROPE is 1.04 times less risky than UBS Fund. It trades about 0.01 of its potential returns per unit of risk. UBS Fund Solutions is currently generating about -0.19 per unit of risk. If you would invest 1,863 in HSBC MSCI EUROPE on December 11, 2024 and sell it today you would earn a total of 2.00 from holding HSBC MSCI EUROPE or generate 0.11% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
HSBC MSCI EUROPE vs. UBS Fund Solutions
Performance |
Timeline |
HSBC MSCI EUROPE |
UBS Fund Solutions |
HSBC MSCI and UBS Fund Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with HSBC MSCI and UBS Fund
The main advantage of trading using opposite HSBC MSCI and UBS Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HSBC MSCI position performs unexpectedly, UBS Fund 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 Fund will offset losses from the drop in UBS Fund's long position.HSBC MSCI vs. UBS Fund Solutions | HSBC MSCI vs. Xtrackers II | HSBC MSCI vs. Xtrackers Nikkei 225 | HSBC MSCI vs. iShares VII PLC |
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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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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