Correlation Between Deutsche Bank and FIBRA Storage
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By analyzing existing cross correlation between Deutsche Bank Aktiengesellschaft and FIBRA Storage, you can compare the effects of market volatilities on Deutsche Bank and FIBRA Storage 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 Deutsche Bank with a short position of FIBRA Storage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Deutsche Bank and FIBRA Storage.
Diversification Opportunities for Deutsche Bank and FIBRA Storage
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Deutsche and FIBRA is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Deutsche Bank Aktiengesellscha and FIBRA Storage in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FIBRA Storage and Deutsche Bank 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 Deutsche Bank Aktiengesellschaft are associated (or correlated) with FIBRA Storage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FIBRA Storage has no effect on the direction of Deutsche Bank i.e., Deutsche Bank and FIBRA Storage go up and down completely randomly.
Pair Corralation between Deutsche Bank and FIBRA Storage
Assuming the 90 days trading horizon Deutsche Bank Aktiengesellschaft is expected to under-perform the FIBRA Storage. In addition to that, Deutsche Bank is 1.79 times more volatile than FIBRA Storage. It trades about -0.09 of its total potential returns per unit of risk. FIBRA Storage is currently generating about 0.12 per unit of volatility. If you would invest 1,715 in FIBRA Storage on August 27, 2024 and sell it today you would earn a total of 34.00 from holding FIBRA Storage or generate 1.98% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Deutsche Bank Aktiengesellscha vs. FIBRA Storage
Performance |
| Timeline |
| Deutsche Bank Aktien |
| FIBRA Storage |
Deutsche Bank and FIBRA Storage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Deutsche Bank and FIBRA Storage
The main advantage of trading using opposite Deutsche Bank and FIBRA Storage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Deutsche Bank position performs unexpectedly, FIBRA Storage 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 FIBRA Storage will offset losses from the drop in FIBRA Storage's long position.| Deutsche Bank vs. Prudential Financial | Deutsche Bank vs. Cognizant Technology Solutions | Deutsche Bank vs. GMxico Transportes SAB | Deutsche Bank vs. Genworth Financial |
| FIBRA Storage vs. Martin Marietta Materials | FIBRA Storage vs. DXC Technology | FIBRA Storage vs. Southwest Airlines | FIBRA Storage vs. Capital One Financial |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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