Correlation Analysis Between Israel Index and SP 500

This module allows you to analyze existing cross correlation between Israel Index and S&P 500. You can compare the effects of market volatilities on Israel Index and SP 500 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 SP 500. See also your portfolio center. Please also check ongoing floating volatility patterns of Israel Index and SP 500.
Horizon     30 Days    Login   to change
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Israel Index  vs.  S&P 500

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Israel Index is expected to generate 2.85 times more return on investment than SP 500. However, Israel Index is 2.85 times more volatile than S&P 500. It trades about 0.18 of its potential returns per unit of risk. S&P 500 is currently generating about 0.16 per unit of risk. If you would invest  111,103  in Israel Index on August 20, 2018 and sell it today you would earn a total of  5,730  from holding Israel Index or generate 5.16% return on investment over 30 days.

Pair Corralation between Israel Index and SP 500

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 S&P 500 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SP 500 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 SP 500. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SP 500 has no effect on the direction of Israel Index i.e. Israel Index and SP 500 go up and down completely randomly.
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Comparative Volatility

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