Correlation Between TERADATA and DAX Index
Specify exactly 2 symbols:
By analyzing existing cross correlation between TERADATA and DAX Index, you can compare the effects of market volatilities on TERADATA and DAX Index 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 TERADATA with a short position of DAX Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of TERADATA and DAX Index.
Diversification Opportunities for TERADATA and DAX Index
Poor diversification
The 3 months correlation between TERADATA and DAX is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding TERADATA and DAX Index in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DAX Index and TERADATA 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 TERADATA are associated (or correlated) with DAX Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DAX Index has no effect on the direction of TERADATA i.e., TERADATA and DAX Index go up and down completely randomly.
Pair Corralation between TERADATA and DAX Index
Assuming the 90 days trading horizon TERADATA is expected to generate 1.17 times more return on investment than DAX Index. However, TERADATA is 1.17 times more volatile than DAX Index. It trades about 0.34 of its potential returns per unit of risk. DAX Index is currently generating about 0.18 per unit of risk. If you would invest 2,920 in TERADATA on September 24, 2024 and sell it today you would earn a total of 160.00 from holding TERADATA or generate 5.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
TERADATA vs. DAX Index
Performance |
| Timeline |
TERADATA and DAX Index Volatility Contrast
Predicted Return Density |
| Returns |
TERADATA
Pair trading matchups for TERADATA
DAX Index
Pair trading matchups for DAX Index
Pair Trading with TERADATA and DAX Index
The main advantage of trading using opposite TERADATA and DAX Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TERADATA position performs unexpectedly, DAX Index 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 DAX Index will offset losses from the drop in DAX Index's long position.| TERADATA vs. ALGOMA STEEL GROUP | TERADATA vs. Boiron SA | TERADATA vs. Caltagirone SpA | TERADATA vs. ASSOC BR FOODS |
| DAX Index vs. Seven West Media | DAX Index vs. TERADATA | DAX Index vs. DICKER DATA LTD | DAX Index vs. Datang International Power |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments |