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.
 Time 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 1.03 times more return on investment than DAX. However, NYSE is 1.03 times more volatile than DAX. It trades about -0.06 of its potential returns per unit of risk. DAX is currently generating about -0.71 per unit of risk. If you would invest  1,276,666  in NYSE on May 22, 2018 and sell it today you would lose (11,792)  from holding NYSE or give up 0.92% of portfolio value over 30 days.

Pair Corralation between NYSE and DAX

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy6.45%
ValuesDaily Returns

Diversification

Pay attention

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

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
$1157.14

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 Focused Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.