Correlation Between DAX Index and LIFE TIME
Specify exactly 2 symbols:
By analyzing existing cross correlation between DAX Index and LIFE TIME FITNESS, you can compare the effects of market volatilities on DAX Index and LIFE TIME 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 LIFE TIME. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and LIFE TIME.
Diversification Opportunities for DAX Index and LIFE TIME
Pay attention - limited upside
The 3 months correlation between DAX and LIFE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and LIFE TIME FITNESS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LIFE TIME FITNESS 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 LIFE TIME. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LIFE TIME FITNESS has no effect on the direction of DAX Index i.e., DAX Index and LIFE TIME go up and down completely randomly.
Pair Corralation between DAX Index and LIFE TIME
If you would invest 1,903,364 in DAX Index on September 13, 2024 and sell it today you would earn a total of 136,552 from holding DAX Index or generate 7.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
DAX Index vs. LIFE TIME FITNESS
Performance |
| Timeline |
DAX Index and LIFE TIME Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
LIFE TIME FITNESS
Pair trading matchups for LIFE TIME
Pair Trading with DAX Index and LIFE TIME
The main advantage of trading using opposite DAX Index and LIFE TIME positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, LIFE TIME 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 LIFE TIME will offset losses from the drop in LIFE TIME's long position.| DAX Index vs. Consolidated Communications Holdings | DAX Index vs. Spirent Communications plc | DAX Index vs. Gamma Communications plc | DAX Index vs. CITIC Telecom International |
| LIFE TIME vs. Apollo Investment Corp | LIFE TIME vs. MGIC INVESTMENT | LIFE TIME vs. Citic Telecom International | LIFE TIME vs. Shenandoah Telecommunications |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |