Hi guys,

I'm currently writing my master thesis about hedge ratio estimation and effectiveness. When modeling the correlation between dax and dax future I found a strange pattern. Until the end of 2005 the correlation varies between 0.8 and 0.97. Since 2006 it is almost constant just below 1. I was wondering if there was a change in the DAX or DAX Future in 2006 that causes this shift.

I really appreciate any suggestions!!