Correlation Analysis Between BSE and DAX

This module allows you to analyze existing cross correlation between BSE and DAX. You can compare the effects of market volatilities on BSE and DAX 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 BSE with a short position of DAX. See also your portfolio center. Please also check ongoing floating volatility patterns of BSE and DAX.
 Time Horizon     30 Days    Login   to change
Symbolsvs

BSE  vs.  DAX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BSE is expected to generate 0.44 times more return on investment than DAX. However, BSE is 2.25 times less risky than DAX. It trades about 0.14 of its potential returns per unit of risk. DAX is currently generating about -0.06 per unit of risk. If you would invest  3,554,826  in BSE on June 16, 2018 and sell it today you would earn a total of  77,551  from holding BSE or generate 2.18% return on investment over 30 days.

Pair Corralation between BSE and DAX

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy96.43%
ValuesDaily Returns

Diversification

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding BSE and DAX in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DAX and BSE 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 BSE are associated (or correlated) with DAX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DAX has no effect on the direction of BSE i.e. BSE and DAX go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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