Correlation Analysis Between Israel Index and EURONEXT BEL-20

This module allows you to analyze existing cross correlation between Israel Index and EURONEXT BEL-20. You can compare the effects of market volatilities on Israel Index and EURONEXT BEL-20 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 EURONEXT BEL-20. See also your portfolio center. Please also check ongoing floating volatility patterns of Israel Index and EURONEXT BEL-20.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Israel Index  vs.  EURONEXT BEL-20

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Israel Index is expected to generate 1.01 times more return on investment than EURONEXT BEL-20. However, Israel Index is 1.01 times more volatile than EURONEXT BEL-20. It trades about 0.12 of its potential returns per unit of risk. EURONEXT BEL-20 is currently generating about -0.13 per unit of risk. If you would invest  106,313  in Israel Index on May 19, 2018 and sell it today you would earn a total of  2,613  from holding Israel Index or generate 2.46% return on investment over 30 days.

Pair Corralation between Israel Index and EURONEXT BEL-20

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Israel Index and EURONEXT BEL-20 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EURONEXT BEL-20 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 EURONEXT BEL-20. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EURONEXT BEL-20 has no effect on the direction of Israel Index i.e. Israel Index and EURONEXT BEL-20 go up and down completely randomly.
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Comparative Volatility

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.