Correlation Between DAX Index and JIAHUA STORES
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By analyzing existing cross correlation between DAX Index and JIAHUA STORES, you can compare the effects of market volatilities on DAX Index and JIAHUA STORES 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 JIAHUA STORES. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and JIAHUA STORES.
Diversification Opportunities for DAX Index and JIAHUA STORES
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DAX and JIAHUA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and JIAHUA STORES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JIAHUA STORES 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 JIAHUA STORES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JIAHUA STORES has no effect on the direction of DAX Index i.e., DAX Index and JIAHUA STORES go up and down completely randomly.
Pair Corralation between DAX Index and JIAHUA STORES
If you would invest 1.90 in JIAHUA STORES on August 27, 2024 and sell it today you would earn a total of 0.00 from holding JIAHUA STORES or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
DAX Index vs. JIAHUA STORES
Performance |
| Timeline |
DAX Index and JIAHUA STORES Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
JIAHUA STORES
Pair trading matchups for JIAHUA STORES
Pair Trading with DAX Index and JIAHUA STORES
The main advantage of trading using opposite DAX Index and JIAHUA STORES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, JIAHUA STORES 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 JIAHUA STORES will offset losses from the drop in JIAHUA STORES's long position.| DAX Index vs. QUEEN S ROAD | DAX Index vs. TITANIUM TRANSPORTGROUP | DAX Index vs. COPLAND ROAD CAPITAL | DAX Index vs. Broadcom |
| JIAHUA STORES vs. Magnachip Semiconductor | JIAHUA STORES vs. KAUFMAN ET BROAD | JIAHUA STORES vs. TOREX SEMICONDUCTOR LTD | JIAHUA STORES vs. ON SEMICONDUCTOR |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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