Correlation Between DAX Index and UCHUMI SUPERMARKET
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By analyzing existing cross correlation between DAX Index and UCHUMI SUPERMARKET LTD, you can compare the effects of market volatilities on DAX Index and UCHUMI SUPERMARKET 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 UCHUMI SUPERMARKET. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and UCHUMI SUPERMARKET.
Diversification Opportunities for DAX Index and UCHUMI SUPERMARKET
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DAX and UCHUMI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and UCHUMI SUPERMARKET LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UCHUMI SUPERMARKET LTD 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 UCHUMI SUPERMARKET. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UCHUMI SUPERMARKET LTD has no effect on the direction of DAX Index i.e., DAX Index and UCHUMI SUPERMARKET go up and down completely randomly.
Pair Corralation between DAX Index and UCHUMI SUPERMARKET
If you would invest 1,878,229 in DAX Index on August 28, 2024 and sell it today you would earn a total of 51,369 from holding DAX Index or generate 2.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.38% |
| Values | Daily Returns |
DAX Index vs. UCHUMI SUPERMARKET LTD
Performance |
| Timeline |
DAX Index and UCHUMI SUPERMARKET Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
UCHUMI SUPERMARKET LTD
Pair trading matchups for UCHUMI SUPERMARKET
Pair Trading with DAX Index and UCHUMI SUPERMARKET
The main advantage of trading using opposite DAX Index and UCHUMI SUPERMARKET positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, UCHUMI SUPERMARKET 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 UCHUMI SUPERMARKET will offset losses from the drop in UCHUMI SUPERMARKET's 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 |
| UCHUMI SUPERMARKET vs. MWALIMU MERCIAL BANK | UCHUMI SUPERMARKET vs. NATIONAL INVESTMENT PANY | UCHUMI SUPERMARKET vs. MAENDELEO BANK PLC | UCHUMI SUPERMARKET vs. AFRIPRISE INVESTMENT PLC |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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