Correlation Between DWS Aktien and IShares Equity
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By analyzing existing cross correlation between DWS Aktien Strategie and iShares Equity Enhanced, you can compare the effects of market volatilities on DWS Aktien and IShares Equity 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 DWS Aktien with a short position of IShares Equity. Check out your portfolio center. Please also check ongoing floating volatility patterns of DWS Aktien and IShares Equity.
Diversification Opportunities for DWS Aktien and IShares Equity
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between DWS and IShares is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding DWS Aktien Strategie and iShares Equity Enhanced in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iShares Equity Enhanced and DWS Aktien 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 DWS Aktien Strategie are associated (or correlated) with IShares Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iShares Equity Enhanced has no effect on the direction of DWS Aktien i.e., DWS Aktien and IShares Equity go up and down completely randomly.
Pair Corralation between DWS Aktien and IShares Equity
Assuming the 90 days trading horizon DWS Aktien Strategie is expected to generate 0.95 times more return on investment than IShares Equity. However, DWS Aktien Strategie is 1.05 times less risky than IShares Equity. It trades about 0.35 of its potential returns per unit of risk. iShares Equity Enhanced is currently generating about 0.13 per unit of risk. If you would invest 49,365 in DWS Aktien Strategie on September 14, 2024 and sell it today you would earn a total of 2,555 from holding DWS Aktien Strategie or generate 5.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
DWS Aktien Strategie vs. iShares Equity Enhanced
Performance |
| Timeline |
| DWS Aktien Strategie |
| iShares Equity Enhanced |
DWS Aktien and IShares Equity Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DWS Aktien and IShares Equity
The main advantage of trading using opposite DWS Aktien and IShares Equity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DWS Aktien position performs unexpectedly, IShares Equity 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 IShares Equity will offset losses from the drop in IShares Equity's long position.| DWS Aktien vs. Groupama Entreprises N | DWS Aktien vs. Renaissance Europe C | DWS Aktien vs. Superior Plus Corp | DWS Aktien vs. Origin Agritech |
| IShares Equity vs. Groupama Entreprises N | IShares Equity vs. Renaissance Europe C | IShares Equity vs. Superior Plus Corp | IShares Equity vs. Origin Agritech |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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