Correlation Between Bullish and UBS ETF
Can any of the company-specific risk be diversified away by investing in both Bullish and UBS ETF 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 Bullish and UBS ETF into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bullish and UBS ETF MSCI, you can compare the effects of market volatilities on Bullish 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 Bullish with a short position of UBS ETF. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bullish and UBS ETF.
Diversification Opportunities for Bullish and UBS ETF
Significant diversification
The 3 months correlation between Bullish and UBS is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Bullish and UBS ETF MSCI in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS ETF MSCI and Bullish 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 Bullish 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 MSCI has no effect on the direction of Bullish i.e., Bullish and UBS ETF go up and down completely randomly.
Pair Corralation between Bullish and UBS ETF
Given the investment horizon of 90 days Bullish is expected to generate 40.68 times more return on investment than UBS ETF. However, Bullish is 40.68 times more volatile than UBS ETF MSCI. It trades about 0.25 of its potential returns per unit of risk. UBS ETF MSCI is currently generating about 0.01 per unit of risk. If you would invest 3,700 in Bullish on May 31, 2025 and sell it today you would earn a total of 2,743 from holding Bullish or generate 74.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 22.22% |
| Values | Daily Returns |
Bullish vs. UBS ETF MSCI
Performance |
| Timeline |
| Bullish |
| UBS ETF MSCI |
Bullish and UBS ETF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bullish and UBS ETF
The main advantage of trading using opposite Bullish and UBS ETF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bullish 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.| Bullish vs. Affirm Holdings | Bullish vs. Ambiq Micro, | Bullish vs. Chime Financial, Class | Bullish vs. Core Scientific, Common |
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 Stocks Directory module to find actively traded stocks across global markets.
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