Correlation Between Xtrackers ShortDAX and ASML Holding
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By analyzing existing cross correlation between Xtrackers ShortDAX and ASML Holding NV, you can compare the effects of market volatilities on Xtrackers ShortDAX and ASML Holding 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 Xtrackers ShortDAX with a short position of ASML Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xtrackers ShortDAX and ASML Holding.
Diversification Opportunities for Xtrackers ShortDAX and ASML Holding
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Xtrackers and ASML is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding Xtrackers ShortDAX and ASML Holding NV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASML Holding NV and Xtrackers ShortDAX 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 Xtrackers ShortDAX are associated (or correlated) with ASML Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASML Holding NV has no effect on the direction of Xtrackers ShortDAX i.e., Xtrackers ShortDAX and ASML Holding go up and down completely randomly.
Pair Corralation between Xtrackers ShortDAX and ASML Holding
Assuming the 90 days trading horizon Xtrackers ShortDAX is expected to under-perform the ASML Holding. But the etf apears to be less risky and, when comparing its historical volatility, Xtrackers ShortDAX is 1.14 times less risky than ASML Holding. The etf trades about -0.16 of its potential returns per unit of risk. The ASML Holding NV is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 57,889 in ASML Holding NV on April 23, 2025 and sell it today you would earn a total of 4,511 from holding ASML Holding NV or generate 7.79% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Significant |
Accuracy | 98.44% |
Values | Daily Returns |
Xtrackers ShortDAX vs. ASML Holding NV
Performance |
Timeline |
Xtrackers ShortDAX |
ASML Holding NV |
Xtrackers ShortDAX and ASML Holding Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Xtrackers ShortDAX and ASML Holding
The main advantage of trading using opposite Xtrackers ShortDAX and ASML Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xtrackers ShortDAX position performs unexpectedly, ASML Holding 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 ASML Holding will offset losses from the drop in ASML Holding's long position.Xtrackers ShortDAX vs. Xtrackers II Global | Xtrackers ShortDAX vs. Xtrackers FTSE | Xtrackers ShortDAX vs. Xtrackers SP 500 | Xtrackers ShortDAX vs. Xtrackers MSCI |
ASML Holding vs. Spirent Communications plc | ASML Holding vs. Singapore Telecommunications Limited | ASML Holding vs. Charter Communications | ASML Holding vs. FIH MOBILE |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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