Correlation Between Ultimus Managers and UBS
Can any of the company-specific risk be diversified away by investing in both Ultimus Managers and UBS at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Ultimus Managers and UBS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ultimus Managers Trust and UBS, you can compare the effects of market volatilities on Ultimus Managers and UBS 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 Ultimus Managers with a short position of UBS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ultimus Managers and UBS.
Diversification Opportunities for Ultimus Managers and UBS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ultimus and UBS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ultimus Managers Trust and UBS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS and Ultimus Managers 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 Ultimus Managers Trust are associated (or correlated) with UBS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UBS has no effect on the direction of Ultimus Managers i.e., Ultimus Managers and UBS go up and down completely randomly.
Pair Corralation between Ultimus Managers and UBS
If you would invest 2,269 in Ultimus Managers Trust on December 2, 2024 and sell it today you would earn a total of 487.00 from holding Ultimus Managers Trust or generate 21.46% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Ultimus Managers Trust vs. UBS
Performance |
Timeline |
Ultimus Managers Trust |
UBS |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Ultimus Managers and UBS Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Ultimus Managers and UBS
The main advantage of trading using opposite Ultimus Managers and UBS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ultimus Managers position performs unexpectedly, UBS 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 will offset losses from the drop in UBS's long position.Ultimus Managers vs. American Beacon Select | Ultimus Managers vs. First Trust Indxx | Ultimus Managers vs. Direxion Daily Regional | Ultimus Managers vs. Direxion Daily SP |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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