Correlation Between DAX Index and VULCAN MATERIALS
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By analyzing existing cross correlation between DAX Index and VULCAN MATERIALS, you can compare the effects of market volatilities on DAX Index and VULCAN MATERIALS 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 Index with a short position of VULCAN MATERIALS. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAX Index and VULCAN MATERIALS.
Diversification Opportunities for DAX Index and VULCAN MATERIALS
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between DAX and VULCAN is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding DAX Index and VULCAN MATERIALS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VULCAN MATERIALS and DAX Index 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 Index are associated (or correlated) with VULCAN MATERIALS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VULCAN MATERIALS has no effect on the direction of DAX Index i.e., DAX Index and VULCAN MATERIALS go up and down completely randomly.
Pair Corralation between DAX Index and VULCAN MATERIALS
Assuming the 90 days trading horizon DAX Index is expected to under-perform the VULCAN MATERIALS. But the index apears to be less risky and, when comparing its historical volatility, DAX Index is 1.73 times less risky than VULCAN MATERIALS. The index trades about -0.04 of its potential returns per unit of risk. The VULCAN MATERIALS is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 24,359 in VULCAN MATERIALS on August 10, 2025 and sell it today you would earn a total of 441.00 from holding VULCAN MATERIALS or generate 1.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
DAX Index vs. VULCAN MATERIALS
Performance |
| Timeline |
DAX Index and VULCAN MATERIALS Volatility Contrast
Predicted Return Density |
| Returns |
DAX Index
Pair trading matchups for DAX Index
VULCAN MATERIALS
Pair trading matchups for VULCAN MATERIALS
Pair Trading with DAX Index and VULCAN MATERIALS
The main advantage of trading using opposite DAX Index and VULCAN MATERIALS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAX Index position performs unexpectedly, VULCAN MATERIALS can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in VULCAN MATERIALS will offset losses from the drop in VULCAN MATERIALS's long position.| DAX Index vs. JD SPORTS FASH | DAX Index vs. SPORT LISBOA E | DAX Index vs. Harmony Gold Mining | DAX Index vs. Ringmetall SE |
| VULCAN MATERIALS vs. Apple Inc | VULCAN MATERIALS vs. Apple Inc | VULCAN MATERIALS vs. Apple Inc | VULCAN MATERIALS vs. Apple Inc |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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