Correlation Between DAX Index and AGRICUL BK
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By analyzing existing cross correlation between DAX Index and AGRICUL BK CHINA H , you can compare the effects of market volatilities on DAX Index and AGRICUL BK 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 AGRICUL BK. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and AGRICUL BK.
Diversification Opportunities for DAX Index and AGRICUL BK
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between DAX and AGRICUL is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and AGRICUL BK CHINA H in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AGRICUL BK CHINA 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 AGRICUL BK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AGRICUL BK CHINA has no effect on the direction of DAX Index i.e., DAX Index and AGRICUL BK go up and down completely randomly.
Pair Corralation between DAX Index and AGRICUL BK
Assuming the 90 days trading horizon DAX Index is expected to generate 6.37 times less return on investment than AGRICUL BK. But when comparing it to its historical volatility, DAX Index is 8.67 times less risky than AGRICUL BK. It trades about 0.1 of its potential returns per unit of risk. AGRICUL BK CHINA H is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 10.00 in AGRICUL BK CHINA H on November 27, 2024 and sell it today you would earn a total of 45.00 from holding AGRICUL BK CHINA H or generate 450.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.79% |
| Values | Daily Returns |
DAX Index vs. AGRICUL BK CHINA H
Performance |
| Timeline |
DAX Index and AGRICUL BK Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
AGRICUL BK CHINA H
Pair trading matchups for AGRICUL BK
Pair Trading with DAX Index and AGRICUL BK
The main advantage of trading using opposite DAX Index and AGRICUL BK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, AGRICUL BK 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 AGRICUL BK will offset losses from the drop in AGRICUL BK's long position.| DAX Index vs. CAIRN HOMES EO | DAX Index vs. Hisense Home Appliances | DAX Index vs. STRAYER EDUCATION | DAX Index vs. CHINA EDUCATION GROUP |
| AGRICUL BK vs. GOME Retail Holdings | AGRICUL BK vs. FAST RETAIL ADR | AGRICUL BK vs. COSTCO WHOLESALE CDR | AGRICUL BK vs. Dalata Hotel Group |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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