Unraveling Multimodality with Large Language Models.pdf
Correlation[1]
1. The MAS Academy – vol. 7 Correlation PD&M Multi Asset Solutions For internal use only. Multi Asset Solutions: actively managed and actively explained Participation Stability Preservation Alternatives
5. Definition 2/2 Dependency of return developments Increasing diversification benefit Correlation coefficient: Dispersion of returns: Correlation: For internal use only. Let’s have a look at two markets – e.g. equities and bonds – and their day-to-day changes. The statistical dispersion of returns is the more linear the more correlated the two return developments are, and the more widespread the more uncorrelated they are: perfectly positive un- correlated perfectly negative Return of equities Return of bonds
6. Backward looking: ex-post correlation 1/2 The graph illustrates the cumulative performance of Swiss bonds and Swiss equities, from which we conclude the following risk and return figures: Based on these key figures, we calculate the correlation between the two markets as follows … Data as at 31.07.2008 / Time horizon: 31.12.1987 – 31.07.2008 How to measure it For internal use only. 11.0% 16.4% Swiss equities 4.2% 2.8% Swiss bonds Return Risk
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9. SECTION 2 Anticipate correlations correctly is key for investment management For internal use only.
17. Contact information www.ubs.com Pascal Guillet UBS Global Asset Management Product Development & Management Gessnerallee 3-5 CH-8098 Zürich +41-44-235 4314 [email_address] For internal use only.
Hinweis der Redaktion
Idee: wenig zeitaufwand von CRMs, keine langen x seitigen erklärungen. Kurz, nicht mehr als 5 minuten. Mehr ‘kann’ man eh nicht absorbieren und wir wollen sie nicht langweilen… Frisch, knackig, nur das wesentliche effizienz erhöhen Anderer auftritt mit video weitreichendes zielpublikum, einzelbesuche mit kaffee und gipfeli schaffen wir wohl nicht, sonst sind wir bald Christophe bassenge Nicht viel anders als was wir jetzt eh machen, nur ‘neue Hülle’ und vielleicht eben kürzer, keine 2 seitigen CDOs Berichte…