Correlation Between Ultimus Managers and Fidelity MSCI
Can any of the company-specific risk be diversified away by investing in both Ultimus Managers and Fidelity MSCI 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 Fidelity MSCI 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 Fidelity MSCI Utilities, you can compare the effects of market volatilities on Ultimus Managers and Fidelity MSCI 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 Fidelity MSCI. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ultimus Managers and Fidelity MSCI.
Diversification Opportunities for Ultimus Managers and Fidelity MSCI
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Ultimus and Fidelity is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Ultimus Managers Trust and Fidelity MSCI Utilities in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fidelity MSCI Utilities 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 Fidelity MSCI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fidelity MSCI Utilities has no effect on the direction of Ultimus Managers i.e., Ultimus Managers and Fidelity MSCI go up and down completely randomly.
Pair Corralation between Ultimus Managers and Fidelity MSCI
Given the investment horizon of 90 days Ultimus Managers Trust is expected to generate 0.92 times more return on investment than Fidelity MSCI. However, Ultimus Managers Trust is 1.09 times less risky than Fidelity MSCI. It trades about 0.06 of its potential returns per unit of risk. Fidelity MSCI Utilities is currently generating about 0.04 per unit of risk. If you would invest 2,594 in Ultimus Managers Trust on September 10, 2025 and sell it today you would earn a total of 65.00 from holding Ultimus Managers Trust or generate 2.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ultimus Managers Trust vs. Fidelity MSCI Utilities
Performance |
| Timeline |
| Ultimus Managers Trust |
| Fidelity MSCI Utilities |
Ultimus Managers and Fidelity MSCI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ultimus Managers and Fidelity MSCI
The main advantage of trading using opposite Ultimus Managers and Fidelity MSCI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ultimus Managers position performs unexpectedly, Fidelity MSCI 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 Fidelity MSCI will offset losses from the drop in Fidelity MSCI's long position.| Ultimus Managers vs. LeaderSharesTM AlphaFactor Core | Ultimus Managers vs. Goldman Sachs ETF | Ultimus Managers vs. Invesco MSCI Sustainable | Ultimus Managers vs. Main International ETF |
| Fidelity MSCI vs. Fidelity MSCI Consumer | Fidelity MSCI vs. Fidelity MSCI Communication | Fidelity MSCI vs. Fidelity MSCI Financials | Fidelity MSCI vs. iShares ESG Aware |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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