DAX vs FTSE 100
Live side-by-side comparison with current values, changes, and key statistics.
Why This Comparison Matters
DAX is industrial and export-heavy while FTSE is commodity and financial-heavy. DAX outperformance reflects European industrial strength. FTSE outperformance aligns with rising commodity prices, defensive rotation into staples and financials, or sterling weakness boosting multinational earnings in local currency.
Cross-Asset Analysis
DAX 40 (DAX 40 index, the German large-cap equity benchmark) and FTSE 100 (FTSE 100 index, the UK large-cap equity benchmark) are priced in separate markets, yet their co-movement tells macro desks something neither series reveals alone. DAX 40 and FTSE 100 look similar at a glance, but the embedded factor tilts between them matter meaningfully over time. A peer comparison like DAX 40 against FTSE 100 strips out the common-factor beta and leaves behind the differences in sector mix, capitalization, style, or geography.
Performance attribution leans on DAX 40-FTSE 100 spreads to separate security selection from style allocation inside multi-manager mandates. Mid-cycle stretches see the DAX 40-FTSE 100 spread compress as macro volatility stays low and factor returns normalize. Liquidity differences between DAX 40 and FTSE 100 produce asymmetric spread moves during risk-off episodes.
Interest rate cycles drive DAX 40 versus FTSE 100 relative performance through discount-rate sensitivity, with longer-duration exposures suffering more when rates rise. In bull markets the more aggressive peer between DAX 40 and FTSE 100 generally leads, while bear markets shift leadership toward the more defensive peer.
90-Day Statistics
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Frequently Asked Questions
What is the relationship between DAX 40 and FTSE 100?+
DAX 40 and FTSE 100 are connected through shared asset class exposure with different factor tilts. When the underlying asset class shifts, both respond, though with different sensitivities and at different speeds. The spread between DAX 40 and FTSE 100 captures the specific macro signal that flows through this relationship.
When does DAX 40 typically lead FTSE 100?+
DAX 40 tends to lead FTSE 100 during rotation episodes between the two factor exposures. In those periods, moves in DAX 40 precede corresponding moves in FTSE 100 by days to weeks, depending on the transmission channel and the depth of each market.
How are DAX 40 and FTSE 100 historically correlated?+
Long-run correlation between DAX 40 and FTSE 100 varies by regime. Peers in the same asset class are highly correlated in direction, with the spread reflecting factor tilts and rotation dynamics. The correlation is not stable: it shifts with macro conditions, and the periods when it breaks down are often the most informative moments in the DAX 40-FTSE 100 relationship.
What macro conditions drive divergence between DAX 40 and FTSE 100?+
Divergence between DAX 40 and FTSE 100 typically arises from index reconstitution, mega-cap earnings surprises, or liquidity differences between the peers. When one asset's idiosyncratic drivers dominate, the spread moves in ways that the common macro story does not predict, which is usually a signal to look more carefully at the specific drivers at work in DAX 40 or FTSE 100.
Is DAX 40 a hedge for FTSE 100?+
Peers like DAX 40 and FTSE 100 do not hedge each other; both rise or fall with the shared asset class, and using the pair as a spread trade is different from using it as a hedge. Effective hedging requires matching the hedge to the specific risk being protected, and the DAX 40-FTSE 100 pair is best stress-tested under scenarios the investor most worries about before being sized into a real portfolio.
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Data sourced from FRED, CoinGecko, CBOE, and other providers. This page is for informational purposes only and does not constitute financial advice. Past performance does not guarantee future results.