Correlation Between CSSC Offshore and DAX Index
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By analyzing existing cross correlation between CSSC Offshore Marine and DAX Index, you can compare the effects of market volatilities on CSSC Offshore and DAX Index 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 CSSC Offshore with a short position of DAX Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSSC Offshore and DAX Index.
Diversification Opportunities for CSSC Offshore and DAX Index
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CSSC and DAX is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding CSSC Offshore Marine and DAX Index in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DAX Index and CSSC Offshore 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 CSSC Offshore Marine are associated (or correlated) with DAX Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DAX Index has no effect on the direction of CSSC Offshore i.e., CSSC Offshore and DAX Index go up and down completely randomly.
Pair Corralation between CSSC Offshore and DAX Index
Assuming the 90 days trading horizon CSSC Offshore is expected to generate 16.28 times less return on investment than DAX Index. But when comparing it to its historical volatility, CSSC Offshore Marine is 8.78 times less risky than DAX Index. It trades about 0.13 of its potential returns per unit of risk. DAX Index is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest 2,129,353 in DAX Index on April 20, 2025 and sell it today you would earn a total of 299,598 from holding DAX Index or generate 14.07% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
CSSC Offshore Marine vs. DAX Index
Performance |
Timeline |
CSSC Offshore and DAX Index Volatility Contrast
Predicted Return Density |
Returns |
CSSC Offshore Marine
Pair trading matchups for CSSC Offshore
DAX Index
Pair trading matchups for DAX Index
Pair Trading with CSSC Offshore and DAX Index
The main advantage of trading using opposite CSSC Offshore and DAX Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSSC Offshore position performs unexpectedly, DAX Index 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 DAX Index will offset losses from the drop in DAX Index's long position.CSSC Offshore vs. Apple Inc | CSSC Offshore vs. Apple Inc | CSSC Offshore vs. Apple Inc | CSSC Offshore vs. Apple Inc |
DAX Index vs. Gruppo Mutuionline SpA | DAX Index vs. GRIFFIN MINING LTD | DAX Index vs. CORNISH METALS INC | DAX Index vs. Chesapeake Utilities |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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