Correlation Between DAX Index and Brainstorm Cell
Specify exactly 2 symbols:
By analyzing existing cross correlation between DAX Index and Brainstorm Cell Therapeutics, you can compare the effects of market volatilities on DAX Index and Brainstorm Cell 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 Brainstorm Cell. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and Brainstorm Cell.
Diversification Opportunities for DAX Index and Brainstorm Cell
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DAX and Brainstorm is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and Brainstorm Cell Therapeutics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Brainstorm Cell Ther 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 Brainstorm Cell. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Brainstorm Cell Ther has no effect on the direction of DAX Index i.e., DAX Index and Brainstorm Cell go up and down completely randomly.
Pair Corralation between DAX Index and Brainstorm Cell
If you would invest 1,907,754 in DAX Index on September 1, 2024 and sell it today you would earn a total of 54,891 from holding DAX Index or generate 2.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
DAX Index vs. Brainstorm Cell Therapeutics
Performance |
| Timeline |
DAX Index and Brainstorm Cell Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
Brainstorm Cell Therapeutics
Pair trading matchups for Brainstorm Cell
Pair Trading with DAX Index and Brainstorm Cell
The main advantage of trading using opposite DAX Index and Brainstorm Cell positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, Brainstorm Cell 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 Brainstorm Cell will offset losses from the drop in Brainstorm Cell's long position.| DAX Index vs. BE Semiconductor Industries | DAX Index vs. REGAL ASIAN INVESTMENTS | DAX Index vs. SEI INVESTMENTS | DAX Index vs. National Beverage Corp |
| Brainstorm Cell vs. Scientific Games | Brainstorm Cell vs. AXWAY SOFTWARE EO | Brainstorm Cell vs. Boyd Gaming | Brainstorm Cell vs. FORMPIPE SOFTWARE AB |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments |