Pair Correlation Between Israel Index and ATX

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

Pair Volatility

Assuming 30 trading days horizon, Israel Index is expected to generate 1.56 times less return on investment than ATX. In addition to that, Israel Index is 1.16 times more volatile than ATX. It trades about 0.36 of its total potential returns per unit of risk. ATX is currently generating about 0.65 per unit of volatility. If you would invest  342,869  in ATX on December 24, 2017 and sell it today you would earn a total of  25,288  from holding ATX or generate 7.38% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Israel Index and ATX


Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

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

Comparative Volatility

 Predicted Return Density