Correlation Analysis Between DAX and Nasdaq

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

DAX  vs.  Nasdaq

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, DAX is expected to generate 1.5 times less return on investment than Nasdaq. In addition to that, DAX is 1.09 times more volatile than Nasdaq. It trades about 0.03 of its total potential returns per unit of risk. Nasdaq is currently generating about 0.05 per unit of volatility. If you would invest  787,846  in Nasdaq on August 25, 2018 and sell it today you would earn a total of  6,722  from holding Nasdaq or generate 0.85% return on investment over 30 days.

Pair Corralation between DAX and Nasdaq

0.44
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1166.09

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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