Correlation Between Alstria Office and DAX Index
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By analyzing existing cross correlation between alstria office REIT AG and DAX Index, you can compare the effects of market volatilities on Alstria Office 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 Alstria Office with a short position of DAX Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of Alstria Office and DAX Index.
Diversification Opportunities for Alstria Office and DAX Index
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Alstria and DAX is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding alstria office REIT AG and DAX Index in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DAX Index and Alstria Office 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 alstria office REIT AG 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 Alstria Office i.e., Alstria Office and DAX Index go up and down completely randomly.
Pair Corralation between Alstria Office and DAX Index
Assuming the 90 days horizon alstria office REIT AG is expected to generate 3.83 times more return on investment than DAX Index. However, Alstria Office is 3.83 times more volatile than DAX Index. It trades about 0.03 of its potential returns per unit of risk. DAX Index is currently generating about 0.1 per unit of risk. If you would invest 458.00 in alstria office REIT AG on December 11, 2024 and sell it today you would earn a total of 98.00 from holding alstria office REIT AG or generate 21.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
alstria office REIT AG vs. DAX Index
Performance |
| Timeline |
Alstria Office and DAX Index Volatility Contrast
Predicted Return Density |
| Returns |
alstria office REIT AG
Pair trading matchups for Alstria Office
DAX Index
Pair trading matchups for DAX Index
Pair Trading with Alstria Office and DAX Index
The main advantage of trading using opposite Alstria Office and DAX Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Alstria Office 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.| Alstria Office vs. China Medical System | Alstria Office vs. SCANDMEDICAL SOLDK 040 | Alstria Office vs. Clearside Biomedical | Alstria Office vs. GERATHERM MEDICAL |
| DAX Index vs. Media and Games | DAX Index vs. Office Properties Income | DAX Index vs. Prosiebensat 1 Media | DAX Index vs. AFRICAN MEDIA ENT |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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