DAX remains in range

The index experiences normal downward trend and little activity. Short impacted friday's data from Germany which showed stable trade surplus, but an unexpected drop in exports (which indicates that the weak euro and fails to support German exports). Today, investors reacted negatively to the unexpected fall in Eurozone Sentix Investor Confidence. Separately, the expectations for first lifting US interest rates in September still seems remain current.

Possible DAX trading is in clearly formed price corridor. Based on normal probability distribution, the odds of DAX to stay above  11,469  in 30 days from now is about 44.36%. Probability of DAX price to stay between  11,469  and its current price of 11585.1 at the end of the 30-day period is about 20.23%

DAX has a volatility of 1.22 and is 1.94 times more volatile than NYSE. 12% of all equities and portfolios are less risky than DAX. Compared to the overall equity markets, volatility of historical daily returns of DAX is lower than 12 (%) of all global equities and portfolios over the last 30 days. The returns on NYSE and DAX are completely uncorrelated.

There is a possible Convergence trading strategy (Pairs trading) of DAX and shares that are in negative correlation with the index, such as Exxon Mobil Corporation, FedEx Corporation, Johnson & Johnson, Computer Sciences Corporation, etc ..