Correlation Analysis Between All Ords and Israel Index

This module allows you to analyze existing cross correlation between All Ords and Israel Index. You can compare the effects of market volatilities on All Ords and Israel Index and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in All Ords with a short position of Israel Index. See also your portfolio center. Please also check ongoing floating volatility patterns of All Ords and Israel Index.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

All Ords  vs.  Israel Index

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, All Ords is expected to under-perform the Israel Index. But the index apears to be less risky and, when comparing its historical volatility, All Ords is 1.33 times less risky than Israel Index. The index trades about -0.12 of its potential returns per unit of risk. The Israel Index is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest  108,323  in Israel Index on November 14, 2018 and sell it today you would lose (4,162)  from holding Israel Index or give up 3.84% of portfolio value over 30 days.

Pair Corralation between All Ords and Israel Index

0.18
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy80.0%
ValuesDaily Returns

Diversification Opportunities for All Ords and Israel Index

All Ords diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding All Ords and Israel Index in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Israel Index and All Ords is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on All Ords are associated (or correlated) with Israel Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Israel Index has no effect on the direction of All Ords i.e. All Ords and Israel Index go up and down completely randomly.
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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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