Correlation Between DAX Index and Templeton Global
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By analyzing existing cross correlation between DAX Index and Templeton Global AD, you can compare the effects of market volatilities on DAX Index and Templeton Global 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 Templeton Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and Templeton Global.
Diversification Opportunities for DAX Index and Templeton Global
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DAX and Templeton is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and Templeton Global AD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Templeton Global 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 Templeton Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Templeton Global has no effect on the direction of DAX Index i.e., DAX Index and Templeton Global go up and down completely randomly.
Pair Corralation between DAX Index and Templeton Global
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. Templeton Global AD
Performance |
| Timeline |
DAX Index and Templeton Global Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
Templeton Global AD
Pair trading matchups for Templeton Global
Pair Trading with DAX Index and Templeton Global
The main advantage of trading using opposite DAX Index and Templeton Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, Templeton Global 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 Templeton Global will offset losses from the drop in Templeton Global'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 |
| Templeton Global vs. Templeton Global Bond | Templeton Global vs. Templeton Asian Bond | Templeton Global vs. Templeton Global Bond | Templeton Global vs. Templeton Emerging Mkt |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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