Correlation Between Fidelity Large and Ubs Multi
Can any of the company-specific risk be diversified away by investing in both Fidelity Large and Ubs Multi 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 Fidelity Large and Ubs Multi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fidelity Large Cap and Ubs Multi Income, you can compare the effects of market volatilities on Fidelity Large and Ubs Multi 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 Fidelity Large with a short position of Ubs Multi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelity Large and Ubs Multi.
Diversification Opportunities for Fidelity Large and Ubs Multi
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Fidelity and Ubs is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Large Cap and Ubs Multi Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ubs Multi Income and Fidelity Large 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 Fidelity Large Cap are associated (or correlated) with Ubs Multi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ubs Multi Income has no effect on the direction of Fidelity Large i.e., Fidelity Large and Ubs Multi go up and down completely randomly.
Pair Corralation between Fidelity Large and Ubs Multi
Assuming the 90 days horizon Fidelity Large Cap is expected to generate 3.79 times more return on investment than Ubs Multi. However, Fidelity Large is 3.79 times more volatile than Ubs Multi Income. It trades about 0.1 of its potential returns per unit of risk. Ubs Multi Income is currently generating about 0.17 per unit of risk. If you would invest 1,750 in Fidelity Large Cap on August 17, 2025 and sell it today you would earn a total of 79.00 from holding Fidelity Large Cap or generate 4.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fidelity Large Cap vs. Ubs Multi Income
Performance |
| Timeline |
| Fidelity Large Cap |
| Ubs Multi Income |
Fidelity Large and Ubs Multi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidelity Large and Ubs Multi
The main advantage of trading using opposite Fidelity Large and Ubs Multi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelity Large position performs unexpectedly, Ubs Multi 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 Multi will offset losses from the drop in Ubs Multi's long position.| Fidelity Large vs. Quantitative Longshort Equity | Fidelity Large vs. Aamhimco Short Duration | Fidelity Large vs. Ultra Short Fixed Income | Fidelity Large vs. Old Westbury Short Term |
| Ubs Multi vs. Pace Smallmedium Value | Ubs Multi vs. Pace International Equity | Ubs Multi vs. Ubs Allocation Fund | Ubs Multi vs. Ubs Allocation Fund |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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