Correlation Between DAX Index and Mapletree Industrial
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By analyzing existing cross correlation between DAX Index and Mapletree Industrial Trust, you can compare the effects of market volatilities on DAX Index and Mapletree Industrial 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 Mapletree Industrial. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and Mapletree Industrial.
Diversification Opportunities for DAX Index and Mapletree Industrial
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between DAX and Mapletree is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and Mapletree Industrial Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mapletree Industrial 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 Mapletree Industrial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mapletree Industrial has no effect on the direction of DAX Index i.e., DAX Index and Mapletree Industrial go up and down completely randomly.
Pair Corralation between DAX Index and Mapletree Industrial
Assuming the 90 days trading horizon DAX Index is expected to generate 0.44 times more return on investment than Mapletree Industrial. However, DAX Index is 2.25 times less risky than Mapletree Industrial. It trades about 0.08 of its potential returns per unit of risk. Mapletree Industrial Trust is currently generating about 0.02 per unit of risk. If you would invest 1,598,996 in DAX Index on August 31, 2024 and sell it today you would earn a total of 363,649 from holding DAX Index or generate 22.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 84.25% |
| Values | Daily Returns |
DAX Index vs. Mapletree Industrial Trust
Performance |
| Timeline |
DAX Index and Mapletree Industrial Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
Mapletree Industrial Trust
Pair trading matchups for Mapletree Industrial
Pair Trading with DAX Index and Mapletree Industrial
The main advantage of trading using opposite DAX Index and Mapletree Industrial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, Mapletree Industrial 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 Mapletree Industrial will offset losses from the drop in Mapletree Industrial's long position.| DAX Index vs. Magnachip Semiconductor | DAX Index vs. Taiwan Semiconductor Manufacturing | DAX Index vs. Broadcom | DAX Index vs. MagnaChip Semiconductor Corp |
| Mapletree Industrial vs. Public Storage | Mapletree Industrial vs. Yara International ASA | Mapletree Industrial vs. Ascendas Real Estate | Mapletree Industrial vs. STAG Industrial |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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