Correlation Between DAX Index and Superior Plus
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By analyzing existing cross correlation between DAX Index and Superior Plus Corp, you can compare the effects of market volatilities on DAX Index and Superior Plus 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 Superior Plus. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and Superior Plus.
Diversification Opportunities for DAX Index and Superior Plus
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between DAX and Superior is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and Superior Plus Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Superior Plus Corp 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 Superior Plus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Superior Plus Corp has no effect on the direction of DAX Index i.e., DAX Index and Superior Plus go up and down completely randomly.
Pair Corralation between DAX Index and Superior Plus
Assuming the 90 days trading horizon DAX Index is expected to generate 0.24 times more return on investment than Superior Plus. However, DAX Index is 4.09 times less risky than Superior Plus. It trades about 0.07 of its potential returns per unit of risk. Superior Plus Corp is currently generating about -0.05 per unit of risk. If you would invest 1,878,229 in DAX Index on August 28, 2024 and sell it today you would earn a total of 62,291 from holding DAX Index or generate 3.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
DAX Index vs. Superior Plus Corp
Performance |
| Timeline |
DAX Index and Superior Plus Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
Superior Plus Corp
Pair trading matchups for Superior Plus
Pair Trading with DAX Index and Superior Plus
The main advantage of trading using opposite DAX Index and Superior Plus positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, Superior Plus 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 Superior Plus will offset losses from the drop in Superior Plus' long position.| DAX Index vs. QUEEN S ROAD | DAX Index vs. TITANIUM TRANSPORTGROUP | DAX Index vs. COPLAND ROAD CAPITAL | DAX Index vs. Broadcom |
| Superior Plus vs. CDL INVESTMENT | Superior Plus vs. ECHO INVESTMENT ZY | Superior Plus vs. SEI INVESTMENTS | Superior Plus vs. Gruppo Mutuionline SpA |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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