Correlation Analysis Between Israel Index and DAX

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

Israel Index  vs.  DAX

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Israel Index is expected to under-perform the DAX. But the index apears to be less risky and, when comparing its historical volatility, Israel Index is 1.75 times less risky than DAX. The index trades about -0.11 of its potential returns per unit of risk. The DAX is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest  1,269,516  in DAX on June 20, 2018 and sell it today you would lose (887.00)  from holding DAX or give up 0.07% of portfolio value over 30 days.

Pair Corralation between Israel Index and DAX

0.03
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy79.31%
ValuesDaily Returns

Diversification

Significant diversification

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

 Predicted Return Density 
      Returns 

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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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See also your portfolio center. Please also try Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..


 
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