Correlation Between DAX Index and KASPIKZ (SPGDR
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By analyzing existing cross correlation between DAX Index and KASPIKZ 1, you can compare the effects of market volatilities on DAX Index and KASPIKZ (SPGDR 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 KASPIKZ (SPGDR. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and KASPIKZ (SPGDR.
Diversification Opportunities for DAX Index and KASPIKZ (SPGDR
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between DAX and KASPIKZ is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and KASPIKZ 1 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KASPIKZ (SPGDR 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 KASPIKZ (SPGDR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KASPIKZ (SPGDR has no effect on the direction of DAX Index i.e., DAX Index and KASPIKZ (SPGDR go up and down completely randomly.
Pair Corralation between DAX Index and KASPIKZ (SPGDR
Assuming the 90 days trading horizon DAX Index is expected to under-perform the KASPIKZ (SPGDR. But the index apears to be less risky and, when comparing its historical volatility, DAX Index is 2.7 times less risky than KASPIKZ (SPGDR. The index trades about -0.05 of its potential returns per unit of risk. The KASPIKZ 1 is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 10,029 in KASPIKZ 1 on August 29, 2024 and sell it today you would earn a total of 571.00 from holding KASPIKZ 1 or generate 5.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
DAX Index vs. KASPIKZ 1
Performance |
| Timeline |
DAX Index and KASPIKZ (SPGDR Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
KASPIKZ 1
Pair trading matchups for KASPIKZ (SPGDR
Pair Trading with DAX Index and KASPIKZ (SPGDR
The main advantage of trading using opposite DAX Index and KASPIKZ (SPGDR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, KASPIKZ (SPGDR 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 KASPIKZ (SPGDR will offset losses from the drop in KASPIKZ (SPGDR's long position.| DAX Index vs. ELMOS SEMICONDUCTOR | DAX Index vs. ALTAIR RES INC | DAX Index vs. Fair Isaac Corp | DAX Index vs. Taiwan Semiconductor Manufacturing |
| KASPIKZ (SPGDR vs. Sibanye Stillwater Limited | KASPIKZ (SPGDR vs. Impala Platinum Holdings | KASPIKZ (SPGDR vs. Cellink AB | KASPIKZ (SPGDR vs. Mowi ASA |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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