Ubs Global Correlations

Mutual Funds . USA . 
Fund . Ubs Global Allocation
BNGLX Fund  USD 12.11  0.01  0.08%   
The current 90-days correlation between Ubs Global Allocation and Pace Smallmedium Value is 0.68 (i.e., Poor diversification). The correlation of Ubs Global 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Ubs Global Correlation With Market

Good diversification

The correlation between Ubs Global Allocation and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ubs Global Allocation and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ubs Global Allocation. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Ubs Mutual Fund

  0.94PEVAX Pace Smallmedium ValuePairCorr
  0.93PWITX Pace International EquityPairCorr
  0.99PWTAX Ubs AllocationPairCorr
  0.98PWTYX Ubs AllocationPairCorr
  0.71PFXAX Pace Mortgage BackedPairCorr
  0.98EMPTX Ubs Emerging MarketsPairCorr
  0.99PHDTX Pace High YieldPairCorr
  0.99PHIAX Pace High YieldPairCorr
  0.99PHYPX Pace High YieldPairCorr
  0.88PIFAX Pace Intermediate FixedPairCorr
  0.98PLAAX Pace Large GrowthPairCorr
  0.96ESPTX Ubs InternationalPairCorr
  0.93PMUAX Pace Municipal FixedPairCorr
  0.95BISCX Ubs Small CapPairCorr
  0.96USDIX Ubs Ultra ShortPairCorr
  0.96USIPX Ubs Ultra ShortPairCorr
  0.96USIAX Ubs Ultra ShortPairCorr
  0.85UTBAX Ubs Total ReturnPairCorr
  0.87UTBPX Ubs Total ReturnPairCorr
  0.86UTBTX Ubs Multi IncomePairCorr
  0.91PQUAX Pace Smallmedium GrowthPairCorr
  0.88PREAX Pace Global RealPairCorr
  0.86PREQX Ubs Pace GlobalPairCorr
  0.61UDBPX Ubs Sustainable DevePairCorr
  0.63UDBTX Ubs Sustainable DevePairCorr
  0.97PAPTX Pace Alternative StrPairCorr
  0.98PASIX Pace Alternative StrPairCorr
  0.98PASPX Pace Alternative StrPairCorr
  0.99UEIPX Ubs Engage ForPairCorr
  0.98UEMPX Ubs Emerging MarketsPairCorr
  0.89PBNAX Pace Strategic FixedPairCorr
  0.98DVRUX Ubs Dividend RulerPairCorr
  0.98DVRPX Ubs Dividend RulerPairCorr
  0.96BNIEX Ubs InternationalPairCorr
  0.98EIPTX Ubs Engage ForPairCorr
  0.97BNSCX Ubs Small CapPairCorr
  0.96BNUEX Ubs InternationalPairCorr
  0.98PCEMX Pace InternationalPairCorr
  0.93PCIEX Pace International EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Ubs Mutual Fund performing well and Ubs Global Mutual Fund 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 Global'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
PEVAX  0.94  0.27  0.11 (1.45) 0.87 
(1.11)
 2.21 
(1.94)
 6.93 
PWITX  0.49  0.15  0.07  0.95  0.30 
(0.58)
 1.03 
(1.02)
 2.66 
PWTAX  0.46  0.18  0.06 (3.02) 0.31 
(0.52)
 1.50 
(0.87)
 3.44 
PWTYX  0.45  0.08  0.04  0.25  0.34 
(0.49)
 1.50 
(0.88)
 3.43 
PFXAX  0.31  0.02 (0.28) 3.06  0.31 
(0.34)
 0.70 
(0.59)
 1.80 
EMPTX  0.58  0.27  0.24  97.38  0.00 
(0.76)
 1.87 
(1.01)
 3.84 
PHDTX  0.13  0.08 (0.26)(1.67) 0.00 
(0.21)
 0.35 
(0.11)
 0.93 
PHIAX  0.13  0.08 (0.29)(2.16) 0.00 
(0.21)
 0.36 
(0.12)
 0.95 
PHYPX  0.13  0.06 (0.30) 0.62  0.00 
(0.20)
 0.36 
(0.23)
 0.83 
PIFAX  0.23  0.03 (0.38)(10.66) 0.08 
(0.29)
 0.49 
(0.39)
 1.17 

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