Correlation Between DAX Index and PACIFIC ONLINE
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By analyzing existing cross correlation between DAX Index and PACIFIC ONLINE, you can compare the effects of market volatilities on DAX Index and PACIFIC ONLINE 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 DAX Index with a short position of PACIFIC ONLINE. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and PACIFIC ONLINE.
Diversification Opportunities for DAX Index and PACIFIC ONLINE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DAX and PACIFIC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and PACIFIC ONLINE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PACIFIC ONLINE and DAX Index 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 DAX Index are associated (or correlated) with PACIFIC ONLINE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PACIFIC ONLINE has no effect on the direction of DAX Index i.e., DAX Index and PACIFIC ONLINE go up and down completely randomly.
Pair Corralation between DAX Index and PACIFIC ONLINE
If you would invest 2,002,466 in DAX Index on November 3, 2024 and sell it today you would earn a total of 170,739 from holding DAX Index or generate 8.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
DAX Index vs. PACIFIC ONLINE
Performance |
| Timeline |
DAX Index and PACIFIC ONLINE Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
PACIFIC ONLINE
Pair trading matchups for PACIFIC ONLINE
Pair Trading with DAX Index and PACIFIC ONLINE
The main advantage of trading using opposite DAX Index and PACIFIC ONLINE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, PACIFIC ONLINE 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 PACIFIC ONLINE will offset losses from the drop in PACIFIC ONLINE's long position.| DAX Index vs. BOS BETTER ONLINE | DAX Index vs. CODERE ONLINE LUX | DAX Index vs. Aegean Airlines SA | DAX Index vs. China Eastern Airlines |
| PACIFIC ONLINE vs. STMICROELECTRONICS | PACIFIC ONLINE vs. LG Electronics | PACIFIC ONLINE vs. FRACTAL GAMING GROUP | PACIFIC ONLINE vs. OURGAME INTHOLDL 00005 |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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