Xtrackers LevDAX Correlations

Etfs . Germany . 
Etf . Xtrackers - LevDAX
DBPE Etf  EUR 140.22  0.44  0.31%   
The correlation of Xtrackers LevDAX is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Xtrackers LevDAX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Xtrackers LevDAX moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Check out Investing Opportunities to better understand how to build diversified portfolios.
  
The ability to find closely correlated positions to Xtrackers LevDAX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Xtrackers LevDAX when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Xtrackers LevDAX - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Xtrackers LevDAX to buy it.

Moving together with Xtrackers Etf

+0.72UIM5UBS Fund SolutionsPairCorr
+0.66XDJPXtrackers Nikkei 225PairCorr
+0.65SXRZIShares VII PLCPairCorr
+0.66VUSAVanguard Funds PublicPairCorr
+0.64EXX7IShares Nikkei 225PairCorr
+0.67SXR8IShares Core SPPairCorr

Moving against Xtrackers Etf

-0.99DBPDXtrackers - ShortDAXPairCorr
-0.85LYQLLYXOR DAILY SHORTDAXPairCorr
-0.79DES2LG DAX DailyPairCorr
-0.78DXS3Xtrackers - SPPairCorr
-0.67H4ZKHSBC MSCI TurkeyPairCorr
-0.66GC2UAmundi ETF ShortPairCorr
-0.5XBAKXtrackers MSCI PakistanPairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
MSFT
+ 0.98
META
CRM
+ 0.91
META
CRM
+ 0.91
MSFT
A
+ 0.83
T
MRK
+ 0.66
META
UBER
+ 0.64
MSFT
  
High negative correlations   
A
- 0.76
MSFT
T
- 0.75
UBER
A
- 0.74
META
CRM
- 0.72
A
T
- 0.64
MSFT
T
- 0.63
META

Xtrackers LevDAX Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Xtrackers Etf performing well and Xtrackers LevDAX ETF doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Xtrackers LevDAX's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean
Deviation		Jensen
Alpha		Sortino
Ratio		Treynor
Ratio		Semi
Deviation		Information
Ratio		Expected
Shortfall		Potential
Upside		Value
At Risk		Maximum
Drawdown
META 1.57  0.79  0.55  0.50  0.85  0.31 (2.02)  3.70 (1.62)  15.55 
MSFT 1.29  0.45  0.45  0.97  0.75  0.29 (1.74)  3.20 (1.84)  9.09 
UBER 1.85  0.28  0.14  0.19  1.74  0.11 (2.24)  4.55 (3.55)  13.86 
F 1.76  0.14  0.04  0.02  2.24  0.0408 (1.75)  4.14 (3.98)  8.87 
T 1.14 (0.21)  0.00 (0.32)  0.00 (0.10)  0.00  1.96 (2.48)  12.36 
A 1.29 (0.22)  0.00 (0.24)  0.00 (0.13)  0.00  2.11 (3.16)  8.97 
CRM 1.33  0.56  0.40  0.46  0.94  0.28 (1.57)  2.63 (2.07)  14.60 
JPM 1.31  0.04  0.00 (0.04)  0.00  0.0083  0.00  2.68 (2.94)  9.73 
MRK 0.93  0.05  0.07  0.06  1.24  0.07 (0.96)  2.03 (2.66)  6.97 
XOM 1.36 (0.01)  0.00 (0.08)  0.00 (0.019)  0.00  2.49 (2.43)  9.88 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Xtrackers LevDAX without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Fundamentals Comparison Now

   

Fundamentals Comparison

Compare fundamentals across multiple equities to find investing opportunities
All  Next Launch Module

Already Invested in Xtrackers LevDAX?

The danger of trading Xtrackers LevDAX is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Xtrackers LevDAX is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Xtrackers LevDAX. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Xtrackers - LevDAX is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Investing Opportunities to better understand how to build diversified portfolios. Note that the Xtrackers - LevDAX information on this page should be used as a complementary analysis to other Xtrackers LevDAX's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.

Complementary Tools for Xtrackers Etf analysis

When running Xtrackers LevDAX's price analysis, check to measure Xtrackers LevDAX's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Xtrackers LevDAX is operating at the current time. Most of Xtrackers LevDAX's value examination focuses on studying past and present price action to predict the probability of Xtrackers LevDAX's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Xtrackers LevDAX's price. Additionally, you may evaluate how the addition of Xtrackers LevDAX to your portfolios can decrease your overall portfolio volatility.
Idea Optimizer
Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio
Transaction History
View history of all your transactions and understand their impact on performance
CEO Directory
Screen CEOs from public companies around the world
CEO Directory
Screen CEOs from public companies around the world
Analyst Recommendations
Analyst recommendations and target price estimates broken down by several categories
Risk-Return Analysis
View associations between returns expected from investment and the risk you assume
Portfolio Center
All portfolio management and optimization tools to improve performance of your portfolios
Theme Ratings
Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance
Balance Of Power
Check stock momentum by analyzing Balance Of Power indicator and other technical ratios
Financial Widgets
Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets
Financial
Analysis
Details
Buy or Sell
Advice
Details
Technical
Analysis
Details
Please note, there is a significant difference between Xtrackers LevDAX's value and its price as these two are different measures arrived at by different means. Investors typically determine if Xtrackers LevDAX is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Xtrackers LevDAX's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party. Check out Investing Opportunities to better understand how to build diversified portfolios.
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2023 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY