Correlation Between DAX Index and ATLAND SA
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By analyzing existing cross correlation between DAX Index and ATLAND SA INH, you can compare the effects of market volatilities on DAX Index and ATLAND SA 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 ATLAND SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and ATLAND SA.
Diversification Opportunities for DAX Index and ATLAND SA
Very good diversification
The 3 months correlation between DAX and ATLAND is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and ATLAND SA INH in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATLAND SA INH 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 ATLAND SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATLAND SA INH has no effect on the direction of DAX Index i.e., DAX Index and ATLAND SA go up and down completely randomly.
Pair Corralation between DAX Index and ATLAND SA
Assuming the 90 days trading horizon DAX Index is expected to generate 0.72 times more return on investment than ATLAND SA. However, DAX Index is 1.39 times less risky than ATLAND SA. It trades about 0.1 of its potential returns per unit of risk. ATLAND SA INH is currently generating about 0.03 per unit of risk. If you would invest 1,399,510 in DAX Index on September 14, 2024 and sell it today you would earn a total of 643,117 from holding DAX Index or generate 45.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
DAX Index vs. ATLAND SA INH
Performance |
| Timeline |
DAX Index and ATLAND SA Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
ATLAND SA INH
Pair trading matchups for ATLAND SA
Pair Trading with DAX Index and ATLAND SA
The main advantage of trading using opposite DAX Index and ATLAND SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, ATLAND SA 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 ATLAND SA will offset losses from the drop in ATLAND SA's long position.| DAX Index vs. CARSALESCOM | DAX Index vs. Sumitomo Mitsui Construction | DAX Index vs. H FARM SPA | DAX Index vs. Nufarm Limited |
| ATLAND SA vs. Electronic Arts | ATLAND SA vs. Nucletron Electronic Aktiengesellschaft | ATLAND SA vs. PARKEN Sport Entertainment | ATLAND SA vs. TT Electronics PLC |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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