Correlation Analysis Between DAX and Israel Index

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

Comparative Performance

 Predicted Return Density 
      Returns 

DAX  vs.  Israel Index

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, DAX is expected to generate 0.84 times more return on investment than Israel Index. However, DAX is 1.19 times less risky than Israel Index. It trades about -0.13 of its potential returns per unit of risk. Israel Index is currently generating about -0.14 per unit of risk. If you would invest  1,155,383  in DAX on November 18, 2018 and sell it today you would lose (74,950)  from holding DAX or give up 6.49% of portfolio value over 30 days.

Pair Corralation between DAX and Israel Index

0.7
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for DAX and Israel Index

DAX diversification synergy

Poor diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Cryptocurrency Arbitrage module to find pairs of digital assets on multiple exchanges that are traded at a risk free arbitrage.


 
Search macroaxis.com