Correlation Between Xtrackers LevDAX and JPM Eurozone
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By analyzing existing cross correlation between Xtrackers LevDAX and JPM Eurozone Research, you can compare the effects of market volatilities on Xtrackers LevDAX and JPM Eurozone 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 LevDAX with a short position of JPM Eurozone. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xtrackers LevDAX and JPM Eurozone.
Diversification Opportunities for Xtrackers LevDAX and JPM Eurozone
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Xtrackers and JPM is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Xtrackers LevDAX and JPM Eurozone Research in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JPM Eurozone Research and Xtrackers LevDAX 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 LevDAX are associated (or correlated) with JPM Eurozone. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JPM Eurozone Research has no effect on the direction of Xtrackers LevDAX i.e., Xtrackers LevDAX and JPM Eurozone go up and down completely randomly.
Pair Corralation between Xtrackers LevDAX and JPM Eurozone
Assuming the 90 days trading horizon Xtrackers LevDAX is expected to generate 2.37 times more return on investment than JPM Eurozone. However, Xtrackers LevDAX is 2.37 times more volatile than JPM Eurozone Research. It trades about 0.18 of its potential returns per unit of risk. JPM Eurozone Research is currently generating about 0.14 per unit of risk. If you would invest 23,765 in Xtrackers LevDAX on April 24, 2025 and sell it today you would earn a total of 4,570 from holding Xtrackers LevDAX or generate 19.23% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Xtrackers LevDAX vs. JPM Eurozone Research
Performance |
Timeline |
Xtrackers LevDAX |
JPM Eurozone Research |
Xtrackers LevDAX and JPM Eurozone Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Xtrackers LevDAX and JPM Eurozone
The main advantage of trading using opposite Xtrackers LevDAX and JPM Eurozone positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xtrackers LevDAX position performs unexpectedly, JPM Eurozone 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 JPM Eurozone will offset losses from the drop in JPM Eurozone's long position.Xtrackers LevDAX vs. Xtrackers II Global | Xtrackers LevDAX vs. Xtrackers FTSE | Xtrackers LevDAX vs. Xtrackers SP 500 | Xtrackers LevDAX vs. Xtrackers MSCI |
JPM Eurozone vs. JPM USD Ultra Short | JPM Eurozone vs. JPM Green Social | JPM Eurozone vs. JPM BetaBuilders Treasury | JPM Eurozone vs. JPM BetaBuilders China |
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 CEOs Directory module to screen CEOs from public companies around the world.
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