RSL list DAX 40
The DAX contains the 40 largest companies on the German stock market, measured by the market value of their freely tradable shares. Until September 2021 it had 30 members; since the expansion it is spread more broadly across industries.
With 40 stocks, the list is short. A single place means more here than in the S&P 500: a stock ranked 10th in the DAX is in the top quarter.
How the index weights its members does not matter for this list: each stock is measured against its own price history, and the ranking only compares the stocks within the index with one another.
What sets this list apart from other RSL lists: It is ranked by the classic Relative Strength according to Levy, so it stays comparable with other lists. Next to it, framed in purple, are four metrics that capital markets research has developed from the same idea since 1990 and tested over decades and across many markets.
Where they paint a different picture than the RSL, a second look is worthwhile. Why they exist and what they measure is explained in Evolving the RSL Strategy.
Ranking
40 stocks, closing prices from 02.10.2026. Sort, filter and add stocks to your watchlist: interactive full list.
| Rank | Symbol | Name | RSL | RSL 26W −1W | Mom 12−2 | 52W high | Vola 6M | RSL trend |
|---|---|---|---|---|---|---|---|---|
| 1 | QIA.DE | Qiagen | 1.1715 | 1.1378 | -6.85% | 0.8793 | 34.6% | ↗ rising |
| 2 | SAP.DE | SAP | 1.1658 | 1.1907 | -25.21% | 0.7729 | 44.3% | → sideways |
| 3 | MTX.DE | MTU Aero Engines | 1.1019 | 1.1104 | -2.85% | 0.9315 | 37.1% | ↗ rising |
| 4 | DB1.DE | Deutsche Börse | 1.1012 | 1.0998 | +20.78% | 0.9866 | 19.8% | → sideways |
| 5 | G1A.DE | GEA Group | 1.0860 | 1.0948 | +4.85% | 0.9815 | 22.7% | → sideways |
| 6 | SY1.DE | Symrise | 1.0846 | 1.1191 | +23.63% | 0.9733 | 24.6% | → sideways |
| 7 | DHL.DE | Deutsche Post | 1.0763 | 1.0965 | +49.00% | 0.9676 | 26.6% | → sideways |
| 8 | MRK.DE | Merck | 1.0493 | 1.0448 | +22.39% | 0.9281 | 25.4% | → sideways |
| 9 | CBK.DE | Commerzbank | 1.0444 | 1.1361 | +26.37% | 0.9158 | 28.6% | ↘↘ falling sharply |
| 10 | SHL.DE | Siemens Healthineers | 1.0397 | 1.0400 | -15.65% | 0.7828 | 24.2% | → sideways |
| 11 | SIE.DE | Siemens | 1.0368 | 1.0555 | +21.07% | 0.9526 | 28.5% | → sideways |
| 12 | FRE.DE | Fresenius | 1.0329 | 1.0935 | +1.67% | 0.8605 | 24.7% | → sideways |
| 13 | DBK.DE | Deutsche Bank | 1.0297 | 1.0661 | +12.40% | 0.8655 | 29.7% | ↘↘ falling sharply |
| 14 | RWE.DE | RWE | 1.0278 | 1.0367 | +43.58% | 0.9724 | 24.9% | → sideways |
| 15 | HNR1.DE | Hannover Re | 1.0259 | 1.0386 | +1.77% | 0.9628 | 18.1% | → sideways |
| 16 | BAYN.DE | Bayer | 1.0245 | 1.1469 | +71.10% | 0.8422 | 41.1% | ↘ falling |
| 17 | ALV.DE | Allianz | 1.0238 | 1.0495 | +26.33% | 0.9182 | 17.2% | ↘↘ falling sharply |
| 18 | HEN3.DE | Henkel | 1.0224 | 1.0470 | +13.58% | 0.8897 | 19.7% | ↘ falling |
| 19 | IFX.DE | Infineon Technologies | 1.0206 | 0.9099 | +77.34% | 0.7345 | 61.9% | ↗ rising |
| 20 | MUV2.DE | Munich Re | 1.0140 | 1.0183 | -2.25% | 0.9303 | 20.5% | → sideways |
| 21 | BEI.DE | Beiersdorf | 1.0028 | 1.0457 | -7.95% | 0.6967 | 23.6% | → sideways |
| 22 | AIR.PA | Airbus | 1.0027 | 1.0256 | +8.14% | 0.8756 | 29.6% | ↘ falling |
| 23 | FME.DE | Fresenius Medical Care | 1.0018 | 1.0105 | -5.73% | 0.8657 | 28.8% | → sideways |
| 24 | BNR.DE | Brenntag | 1.0014 | 1.0204 | +22.31% | 0.9066 | 22.8% | ↘ falling |
| 25 | CON.DE | Continental | 0.9880 | 1.0068 | +22.42% | 0.8963 | 30.0% | ↘ falling |
| 26 | BAS.DE | BASF | 0.9858 | 0.9956 | +19.43% | 0.9245 | 21.4% | ↘ falling |
| 27 | G24.DE | Scout24 | 0.9527 | 0.9391 | -25.23% | 0.6557 | 36.1% | ↘↘ falling sharply |
| 28 | DTE.DE | Deutsche Telekom | 0.9524 | 0.9629 | -2.62% | 0.8044 | 29.8% | ↘ falling |
| 29 | DTG.DE | Daimler Truck | 0.9467 | 0.9913 | +40.50% | 0.8202 | 25.1% | ↘↘ falling sharply |
| 30 | ZAL.DE | Zalando | 0.9459 | 0.9389 | -9.27% | 0.7364 | 39.1% | ↘ falling |
| 31 | EOAN.DE | E.ON | 0.9321 | 0.9392 | +20.32% | 0.8638 | 22.3% | → sideways |
| 32 | ADS.DE | Adidas | 0.9186 | 0.9374 | -11.48% | 0.7530 | 34.7% | → sideways |
| 33 | ENR.DE | Siemens Energy | 0.9172 | 0.8996 | +42.86% | 0.7751 | 47.0% | → sideways |
| 34 | HEI.DE | Heidelberg Materials | 0.8663 | 0.8360 | -11.59% | 0.6333 | 33.5% | ↘ falling |
| 35 | VOW3.DE | Volkswagen Group | 0.8616 | 0.9099 | -13.00% | 0.6628 | 31.6% | ↘↘ falling sharply |
| 36 | PAH3.DE | Porsche SE | 0.8511 | 0.8886 | -10.45% | 0.6295 | 25.1% | ↘↘ falling sharply |
| 37 | MBG.DE | Mercedes-Benz Group | 0.8446 | 0.8719 | -8.72% | 0.6865 | 26.5% | ↘↘ falling sharply |
| 38 | BMW.DE | BMW | 0.8284 | 0.8407 | -27.67% | 0.5897 | 28.4% | ↘↘ falling sharply |
| 39 | RHM.DE | Rheinmetall | 0.8221 | 0.8332 | -38.21% | 0.4860 | 48.6% | → sideways |
| 40 | VNA.DE | Vonovia | 0.8212 | 0.8340 | -16.56% | 0.6209 | 25.8% | ↘ falling |
What the columns measure
- RSL
- Levy's measure C/A26: price divided by the average of the current price and the 26 weekly closing prices before it.
- RSL 26W −1W
- The same value, shifted back by one week — numerator and denominator together. If it is far from the RSL, the latest price is driving the ranking.
- Mom 12−2
- Price return from 12 months ago to 2 months ago — the momentum factor as research measures it.
- 52W high
- Price divided by the highest closing price of the last 52 weeks. 1.00 means the stock is at its high for the year.
- Vola 6M
- Volatility of daily returns over the last 6 months, annualized. Risk information without a rating: for deciding how much to put to work, calm is better; when choosing stocks, Levy found that those that were both strong and volatile did best.
- RSL trend
- How the RSL has developed over the last 5 weeks. A steadily rising price keeps the RSL constant – so the arrows show whether a trend is currently accelerating or flattening out.