correlation coefficient stocks in different stock markets

• 06/07/2022 at 4:05 PM #194857
  gnellas77

  hi gentlemen, i have a question,

  i m looking for stocks that have high correlation so when one market closes eg germany-dax40 i can invest in them in another market lets say us market-nasdaq which opens after the close of the german stock market.

  for this reason i found mercedes-benz in dax40 which has a correlation of 84% in nasdaq with a ticker of mercedes-benz ddaif.

  my question is: what does this ticker stand for? is it the same stock traded simultaneously in us stock market? can i apply the strategy above?

  thank you.

  

  gnellas77

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  06/09/2022 at 9:20 AM #194963
  Nicolas

  After a small research on the web, I found that Mercedes-Benz hold many different cars company (such as Daimler = DDAIF), so that’s not the same share listed as the one in DAX40.

  

  Nicolas

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