Correlation Between DAX Index and ALLFUNDS GROUP
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By analyzing existing cross correlation between DAX Index and ALLFUNDS GROUP EO 0025, you can compare the effects of market volatilities on DAX Index and ALLFUNDS GROUP 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 ALLFUNDS GROUP. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and ALLFUNDS GROUP.
Diversification Opportunities for DAX Index and ALLFUNDS GROUP
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between DAX and ALLFUNDS is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and ALLFUNDS GROUP EO 0025 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ALLFUNDS GROUP EO 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 ALLFUNDS GROUP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ALLFUNDS GROUP EO has no effect on the direction of DAX Index i.e., DAX Index and ALLFUNDS GROUP go up and down completely randomly.
Pair Corralation between DAX Index and ALLFUNDS GROUP
Assuming the 90 days trading horizon DAX Index is expected to generate 0.41 times more return on investment than ALLFUNDS GROUP. However, DAX Index is 2.43 times less risky than ALLFUNDS GROUP. It trades about 0.08 of its potential returns per unit of risk. ALLFUNDS GROUP EO 0025 is currently generating about -0.07 per unit of risk. If you would invest 1,802,658 in DAX Index on October 12, 2024 and sell it today you would earn a total of 229,052 from holding DAX Index or generate 12.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
DAX Index vs. ALLFUNDS GROUP EO 0025
Performance |
| Timeline |
DAX Index and ALLFUNDS GROUP Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
ALLFUNDS GROUP EO 0025
Pair trading matchups for ALLFUNDS GROUP
Pair Trading with DAX Index and ALLFUNDS GROUP
The main advantage of trading using opposite DAX Index and ALLFUNDS GROUP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, ALLFUNDS GROUP 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 ALLFUNDS GROUP will offset losses from the drop in ALLFUNDS GROUP's long position.| DAX Index vs. Scottish Mortgage Investment | DAX Index vs. Keck Seng Investments | DAX Index vs. Lendlease Group | DAX Index vs. FIRST SAVINGS FINL |
| ALLFUNDS GROUP vs. MHP Hotel AG | ALLFUNDS GROUP vs. JAPAN AIRLINES | ALLFUNDS GROUP vs. BRAEMAR HOTELS RES | ALLFUNDS GROUP vs. EMPEROR ENT HOTEL |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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