Correlation Analysis Between NYSE and DAX

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

NYSE  vs.  DAX

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, NYSE is expected to generate 0.47 times more return on investment than DAX. However, NYSE is 2.15 times less risky than DAX. It trades about 0.22 of its potential returns per unit of risk. DAX is currently generating about 0.04 per unit of risk. If you would invest  1,296,510  in NYSE on August 22, 2018 and sell it today you would earn a total of  26,866  from holding NYSE or generate 2.07% return on investment over 30 days.

Pair Corralation between NYSE and DAX

0.54
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 NYSE and DAX in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DAX and NYSE 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 NYSE 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 NYSE i.e. NYSE and DAX go up and down completely randomly.
    Optimize

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1171.09

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 Equity Search module to search for activelly-traded equities including funds and etfs from over 30 global markets.


 
Search macroaxis.com