Correlation Between DAX Index and Anglo-Bomarc Mines
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By analyzing existing cross correlation between DAX Index and Anglo Bomarc Mines, you can compare the effects of market volatilities on DAX Index and Anglo-Bomarc Mines 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 Anglo-Bomarc Mines. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and Anglo-Bomarc Mines.
Diversification Opportunities for DAX Index and Anglo-Bomarc Mines
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DAX and Anglo-Bomarc is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and Anglo Bomarc Mines in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anglo Bomarc Mines 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 Anglo-Bomarc Mines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anglo Bomarc Mines has no effect on the direction of DAX Index i.e., DAX Index and Anglo-Bomarc Mines go up and down completely randomly.
Pair Corralation between DAX Index and Anglo-Bomarc Mines
If you would invest 1,914,785 in DAX Index on September 4, 2024 and sell it today you would earn a total of 78,577 from holding DAX Index or generate 4.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
DAX Index vs. Anglo Bomarc Mines
Performance |
| Timeline |
DAX Index and Anglo-Bomarc Mines Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
Anglo Bomarc Mines
Pair trading matchups for Anglo-Bomarc Mines
Pair Trading with DAX Index and Anglo-Bomarc Mines
The main advantage of trading using opposite DAX Index and Anglo-Bomarc Mines positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, Anglo-Bomarc Mines 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 Anglo-Bomarc Mines will offset losses from the drop in Anglo-Bomarc Mines' long position.| DAX Index vs. LION ONE METALS | DAX Index vs. KENNAMETAL INC | DAX Index vs. HYATT HOTELS A | DAX Index vs. Zijin Mining Group |
| Anglo-Bomarc Mines vs. X FAB Silicon Foundries | Anglo-Bomarc Mines vs. Casio Computer CoLtd | Anglo-Bomarc Mines vs. DXC Technology Co | Anglo-Bomarc Mines vs. JD SPORTS FASH |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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