Correlation Analysis Between Hang Seng and DAX

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

Hang Seng  vs.  DAX

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, Hang Seng is expected to under-perform the DAX. In addition to that, Hang Seng is 1.43 times more volatile than DAX. It trades about -0.28 of its total potential returns per unit of risk. DAX is currently generating about -0.31 per unit of volatility. If you would invest  1,243,088  in DAX on September 21, 2018 and sell it today you would lose (91,243)  from holding DAX or give up 7.34% of portfolio value over 30 days.

Pair Corralation between Hang Seng and DAX

Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Hang Seng and DAX in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DAX and Hang Seng 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 Hang Seng 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 Hang Seng i.e. Hang Seng and DAX go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

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