Pair Correlation Between DAX and ATX

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

Pair Volatility

Assuming 30 trading days horizon, DAX is expected to generate 1.07 times more return on investment than ATX. However, DAX is 1.07 times more volatile than ATX. It trades about 0.0 of its potential returns per unit of risk. ATX is currently generating about -0.17 per unit of risk. If you would invest  1,300,314  in DAX on October 21, 2017 and sell it today you would lose (941)  from holding DAX or give up 0.07% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between DAX and ATX


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density