Correlation Between Cambria Global and UBS
Can any of the company-specific risk be diversified away by investing in both Cambria Global 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 Cambria Global and UBS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cambria Global Momentum and UBS, you can compare the effects of market volatilities on Cambria Global 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 Cambria Global with a short position of UBS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cambria Global and UBS.
Diversification Opportunities for Cambria Global and UBS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cambria and UBS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cambria Global Momentum and UBS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UBS and Cambria Global 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 Cambria Global Momentum 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 Cambria Global i.e., Cambria Global and UBS go up and down completely randomly.
Pair Corralation between Cambria Global and UBS
If you would invest 2,694 in Cambria Global Momentum on January 25, 2024 and sell it today you would earn a total of 150.00 from holding Cambria Global Momentum or generate 5.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Cambria Global Momentum vs. UBS
Performance |
| Timeline |
| Cambria Global Momentum |
| UBS |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Cambria Global and UBS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cambria Global and UBS
The main advantage of trading using opposite Cambria Global and UBS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cambria Global 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.| Cambria Global vs. Arrow DWA Tactical | Cambria Global vs. AlphaMark Actively Managed | Cambria Global vs. FlexShares Real Assets | Cambria Global vs. First Trust Income |
| UBS vs. ProShares UltraShort FTSE | UBS vs. ProShares UltraShort Gold | UBS vs. ProShares UltraShort Silver |
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.
Other Complementary Tools
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |