UBS ETRACS Correlations

WTID Etf  USD 16.16  0.26  1.64%   
The correlation of UBS ETRACS is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as UBS ETRACS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if UBS ETRACS moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Very good diversification

The correlation between UBS ETRACS and NYA is -0.43 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UBS ETRACS and NYA in the same portfolio, assuming nothing else is changed.
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in UBS ETRACS . Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product.
The ability to find closely correlated positions to UBS ETRACS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace UBS ETRACS when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back UBS ETRACS - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling UBS ETRACS to buy it.

Moving together with UBS Etf

  0.92SCO ProShares UltraShortPairCorr
  0.75ZSL ProShares UltraShort Buyout TrendPairCorr
  0.83GLL ProShares UltraShort GoldPairCorr
  0.8GDXD MicroSectors Gold Miners Upward RallyPairCorr
  0.65DGLDF VelocityShares 3x InversePairCorr
  0.75DZZ DB Gold DoublePairCorr
  0.74DGZ DB Gold ShortPairCorr

Moving against UBS Etf

  0.77DSJA DSJAPairCorr
  0.77AFK VanEck Africa IndexPairCorr
  0.76PRVT Tidal ETF Services Symbol ChangePairCorr
  0.74HCOW Amplify Cash FlowPairCorr
  0.68MJ Amplify AlternativePairCorr
  0.66AGQ ProShares Ultra SilverPairCorr
  0.66SGOV iShares 0 3PairCorr
  0.63RSPY Tuttle Capital ManagementPairCorr
  0.61JIVE JPMorgan InternationalPairCorr
  0.45VTV Vanguard Value IndexPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
High negative correlations   

UBS ETRACS Competition Risk-Adjusted Indicators

There is a big difference between UBS Etf performing well and UBS ETRACS ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze UBS ETRACS's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.51 (0.06)(0.02) 0.00  2.44 
MSFT  0.97  0.04  0.04  0.08  1.15 
UBER  1.45 (0.34) 0.00 (0.19) 0.00 
F  1.32 (0.06)(0.01) 0.01  1.79 
T  0.77  0.05  0.01  0.27  0.91 
A  1.20  0.10  0.09  0.11  1.25 
CRM  1.16 (0.09) 0.00 (0.01) 0.00 
JPM  0.87  0.07  0.05  0.10  1.52 
MRK  0.65  0.01 (0.01) 0.06  0.66 
XOM  0.76  0.10  0.08  0.25  0.88 

Be your own money manager

Our tools can tell you how much better you can do entering a position in UBS ETRACS without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Already Invested in UBS ETRACS ?

The danger of trading UBS ETRACS is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of UBS ETRACS is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than UBS ETRACS. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile UBS ETRACS is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether UBS ETRACS is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if UBS Etf is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Ubs Etracs Etf. Highlighted below are key reports to facilitate an investment decision about Ubs Etracs Etf:
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in UBS ETRACS . Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product.
You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
The market value of UBS ETRACS is measured differently than its book value, which is the value of UBS that is recorded on the company's balance sheet. Investors also form their own opinion of UBS ETRACS's value that differs from its market value or its book value, called intrinsic value, which is UBS ETRACS's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because UBS ETRACS's market value can be influenced by many factors that don't directly affect UBS ETRACS's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between UBS ETRACS's value and its price as these two are different measures arrived at by different means. Investors typically determine if UBS ETRACS is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, UBS ETRACS's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.