Correlation Between DAX Index and FANDIFI TECHNOLOGY
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By analyzing existing cross correlation between DAX Index and FANDIFI TECHNOLOGY P, you can compare the effects of market volatilities on DAX Index and FANDIFI TECHNOLOGY 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 FANDIFI TECHNOLOGY. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and FANDIFI TECHNOLOGY.
Diversification Opportunities for DAX Index and FANDIFI TECHNOLOGY
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DAX and FANDIFI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and FANDIFI TECHNOLOGY P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FANDIFI TECHNOLOGY 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 FANDIFI TECHNOLOGY. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FANDIFI TECHNOLOGY has no effect on the direction of DAX Index i.e., DAX Index and FANDIFI TECHNOLOGY go up and down completely randomly.
Pair Corralation between DAX Index and FANDIFI TECHNOLOGY
If you would invest 1,993,362 in DAX Index on December 2, 2024 and sell it today you would earn a total of 261,781 from holding DAX Index or generate 13.13% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 98.36% |
Values | Daily Returns |
DAX Index vs. FANDIFI TECHNOLOGY P
Performance |
Timeline |
DAX Index and FANDIFI TECHNOLOGY Volatility Contrast
Predicted Return Density |
Returns |
DAX Index
Pair trading matchups for DAX Index
FANDIFI TECHNOLOGY P
Pair trading matchups for FANDIFI TECHNOLOGY
Pair Trading with DAX Index and FANDIFI TECHNOLOGY
The main advantage of trading using opposite DAX Index and FANDIFI TECHNOLOGY positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, FANDIFI TECHNOLOGY 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 FANDIFI TECHNOLOGY will offset losses from the drop in FANDIFI TECHNOLOGY's long position.DAX Index vs. Ross Stores | DAX Index vs. National Retail Properties | DAX Index vs. Fast Retailing Co | DAX Index vs. Gol Intelligent Airlines |
FANDIFI TECHNOLOGY vs. CODERE ONLINE LUX | FANDIFI TECHNOLOGY vs. Carsales | FANDIFI TECHNOLOGY vs. BG Foods | FANDIFI TECHNOLOGY vs. GungHo Online Entertainment |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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