Correlation Between ALM ES and DWS Aktien
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By analyzing existing cross correlation between ALM ES Actions and DWS Aktien Strategie, you can compare the effects of market volatilities on ALM ES and DWS Aktien 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 ALM ES with a short position of DWS Aktien. Check out your portfolio center. Please also check ongoing floating volatility patterns of ALM ES and DWS Aktien.
Diversification Opportunities for ALM ES and DWS Aktien
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between ALM and DWS is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding ALM ES Actions and DWS Aktien Strategie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DWS Aktien Strategie and ALM ES 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 ALM ES Actions are associated (or correlated) with DWS Aktien. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DWS Aktien Strategie has no effect on the direction of ALM ES i.e., ALM ES and DWS Aktien go up and down completely randomly.
Pair Corralation between ALM ES and DWS Aktien
Assuming the 90 days trading horizon ALM ES Actions is expected to under-perform the DWS Aktien. But the fund apears to be less risky and, when comparing its historical volatility, ALM ES Actions is 1.27 times less risky than DWS Aktien. The fund trades about -0.3 of its potential returns per unit of risk. The DWS Aktien Strategie is currently generating about -0.08 of returns per unit of risk over similar time horizon. If you would invest 52,048 in DWS Aktien Strategie on October 12, 2024 and sell it today you would lose (525.00) from holding DWS Aktien Strategie or give up 1.01% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 82.35% |
| Values | Daily Returns |
ALM ES Actions vs. DWS Aktien Strategie
Performance |
| Timeline |
| ALM ES Actions |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
| DWS Aktien Strategie |
ALM ES and DWS Aktien Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ALM ES and DWS Aktien
The main advantage of trading using opposite ALM ES and DWS Aktien positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ALM ES position performs unexpectedly, DWS Aktien 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 DWS Aktien will offset losses from the drop in DWS Aktien's long position.| ALM ES vs. Groupama Entreprises N | ALM ES vs. Renaissance Europe C | ALM ES vs. Superior Plus Corp | ALM ES vs. Origin Agritech |
| DWS Aktien vs. FF European | DWS Aktien vs. CM AM Monplus NE | DWS Aktien vs. Aberdeen Global Asian | DWS Aktien vs. Naranja Standard Poors |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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