Pair Correlation Between Israel Index and All Ords

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

Pair Volatility

Assuming 30 trading days horizon, Israel Index is expected to generate 1.59 times less return on investment than All Ords. In addition to that, Israel Index is 1.35 times more volatile than All Ords. It trades about 0.03 of its total potential returns per unit of risk. All Ords is currently generating about 0.06 per unit of volatility. If you would invest  600,480  in All Ords on February 16, 2018 and sell it today you would earn a total of  5,010  from holding All Ords or generate 0.83% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Israel Index and All Ords


Time Period1 Month [change]
StrengthVery Strong
ValuesDaily Returns


No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Israel Index and All Ords in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on All Ords and Israel Index 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 Israel Index are associated (or correlated) with All Ords. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of All Ords has no effect on the direction of Israel Index i.e. Israel Index and All Ords go up and down completely randomly.

Comparative Volatility

 Predicted Return Density