Pair Correlation Between NQEGT and Israel Index

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

Pair Volatility

Assuming 30 trading days horizon, NQEGT is expected to generate 0.82 times more return on investment than Israel Index. However, NQEGT is 1.22 times less risky than Israel Index. It trades about 0.06 of its potential returns per unit of risk. Israel Index is currently generating about -0.19 per unit of risk. If you would invest  115,281  in NQEGT on January 26, 2018 and sell it today you would earn a total of  1,342  from holding NQEGT or generate 1.16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between NQEGT and Israel Index


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density