Correlation Analysis Between ATX and Israel Index

This module allows you to analyze existing cross correlation between ATX and Israel Index. You can compare the effects of market volatilities on ATX 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 ATX with a short position of Israel Index. See also your portfolio center. Please also check ongoing floating volatility patterns of ATX and Israel Index.
Horizon     30 Days    Login   to change

ATX  vs.  Israel Index

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, ATX is expected to generate 0.87 times more return on investment than Israel Index. However, ATX is 1.15 times less risky than Israel Index. It trades about -0.25 of its potential returns per unit of risk. Israel Index is currently generating about -0.35 per unit of risk. If you would invest  336,785  in ATX on September 23, 2018 and sell it today you would lose (17,794)  from holding ATX or give up 5.28% of portfolio value over 30 days.

Pair Corralation between ATX and Israel Index

Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding ATX and Israel Index in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Israel Index and ATX 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 ATX 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 ATX i.e. ATX and Israel Index go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.