Correlation Between DAX Index and AOI Electronics
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By analyzing existing cross correlation between DAX Index and AOI Electronics Co, you can compare the effects of market volatilities on DAX Index and AOI Electronics 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 AOI Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and AOI Electronics.
Diversification Opportunities for DAX Index and AOI Electronics
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DAX and AOI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and AOI Electronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AOI Electronics 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 AOI Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AOI Electronics has no effect on the direction of DAX Index i.e., DAX Index and AOI Electronics go up and down completely randomly.
Pair Corralation between DAX Index and AOI Electronics
If you would invest 1,461,002 in DAX Index on August 28, 2024 and sell it today you would earn a total of 479,518 from holding DAX Index or generate 32.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.79% |
| Values | Daily Returns |
DAX Index vs. AOI Electronics Co
Performance |
| Timeline |
DAX Index and AOI Electronics Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
AOI Electronics Co
Pair trading matchups for AOI Electronics
Pair Trading with DAX Index and AOI Electronics
The main advantage of trading using opposite DAX Index and AOI Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, AOI Electronics 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 AOI Electronics will offset losses from the drop in AOI Electronics' 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 |
| AOI Electronics vs. NVIDIA | AOI Electronics vs. NVIDIA | AOI Electronics vs. QUALCOMM Incorporated | AOI Electronics vs. Intel |
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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