Correlation Between DAX Index and SARTORIUS
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By analyzing existing cross correlation between DAX Index and SARTORIUS AG UNSPADR, you can compare the effects of market volatilities on DAX Index and SARTORIUS 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 SARTORIUS. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and SARTORIUS.
Diversification Opportunities for DAX Index and SARTORIUS
Pay attention - limited upside
The 3 months correlation between DAX and SARTORIUS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and SARTORIUS AG UNSPADR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SARTORIUS AG UNSPADR 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 SARTORIUS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SARTORIUS AG UNSPADR has no effect on the direction of DAX Index i.e., DAX Index and SARTORIUS go up and down completely randomly.
Pair Corralation between DAX Index and SARTORIUS
Assuming the 90 days trading horizon DAX Index is expected to generate 0.32 times more return on investment than SARTORIUS. However, DAX Index is 3.17 times less risky than SARTORIUS. It trades about 0.14 of its potential returns per unit of risk. SARTORIUS AG UNSPADR is currently generating about 0.0 per unit of risk. If you would invest 1,907,754 in DAX Index on September 1, 2024 and sell it today you would earn a total of 54,891 from holding DAX Index or generate 2.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
DAX Index vs. SARTORIUS AG UNSPADR
Performance |
| Timeline |
DAX Index and SARTORIUS Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
SARTORIUS AG UNSPADR
Pair trading matchups for SARTORIUS
Pair Trading with DAX Index and SARTORIUS
The main advantage of trading using opposite DAX Index and SARTORIUS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, SARTORIUS 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 SARTORIUS will offset losses from the drop in SARTORIUS's 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 |
| SARTORIUS vs. ESSILORLUXOTTICA 12ON | SARTORIUS vs. Intuitive Surgical | SARTORIUS vs. EssilorLuxottica Socit anonyme | SARTORIUS vs. HOYA Corporation |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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