Correlation Between DAX Index and Rogers Communications
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By analyzing existing cross correlation between DAX Index and Rogers Communications, you can compare the effects of market volatilities on DAX Index and Rogers Communications 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 Rogers Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and Rogers Communications.
Diversification Opportunities for DAX Index and Rogers Communications
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between DAX and Rogers is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and Rogers Communications in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rogers Communications 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 Rogers Communications. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rogers Communications has no effect on the direction of DAX Index i.e., DAX Index and Rogers Communications go up and down completely randomly.
Pair Corralation between DAX Index and Rogers Communications
Assuming the 90 days trading horizon DAX Index is expected to generate 0.66 times more return on investment than Rogers Communications. However, DAX Index is 1.52 times less risky than Rogers Communications. It trades about 0.13 of its potential returns per unit of risk. Rogers Communications is currently generating about -0.02 per unit of risk. If you would invest 1,513,597 in DAX Index on September 1, 2024 and sell it today you would earn a total of 449,048 from holding DAX Index or generate 29.67% 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. Rogers Communications
Performance |
| Timeline |
DAX Index and Rogers Communications Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
Rogers Communications
Pair trading matchups for Rogers Communications
Pair Trading with DAX Index and Rogers Communications
The main advantage of trading using opposite DAX Index and Rogers Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, Rogers Communications 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 Rogers Communications will offset losses from the drop in Rogers Communications' 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 |
| Rogers Communications vs. Apple Inc | Rogers Communications vs. Apple Inc | Rogers Communications vs. Apple Inc | Rogers Communications vs. Apple Inc |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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