This module allows you to analyze existing cross correlation between DAX and NZSE. You can compare the effects of market volatilities on DAX and NZSE 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 NZSE. See also your portfolio center. Please also check ongoing floating volatility patterns of DAX and NZSE.
|Horizon||30 Days Login to change|
Predicted Return Density
DAX vs. NZSE
Assuming 30 trading days horizon, DAX is expected to generate 3.04 times less return on investment than NZSE. In addition to that, DAX is 1.73 times more volatile than NZSE. It trades about 0.01 of its total potential returns per unit of risk. NZSE is currently generating about 0.07 per unit of volatility. If you would invest 1,065,120 in NZSE on September 14, 2019 and sell it today you would earn a total of 37,540 from holding NZSE or generate 3.52% return on investment over 30 days.
Pair Corralation between DAX and NZSE
|Time Period||3 Months [change]|
Diversification Opportunities for DAX and NZSE
Overlapping area represents the amount of risk that can be diversified away by holding DAX and NZSE in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NZSE 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 NZSE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NZSE has no effect on the direction of DAX i.e. DAX and NZSE go up and down completely randomly.
See also your portfolio center. Please also try Companies Directory module to evaluate performance of over 100,000 stocks, funds, and etfs against different fundamentals.