Correlation Analysis Between Israel Index and MerVal

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

Israel Index  vs.  MerVal

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Israel Index is expected to generate 0.28 times more return on investment than MerVal. However, Israel Index is 3.63 times less risky than MerVal. It trades about -0.11 of its potential returns per unit of risk. MerVal is currently generating about -0.18 per unit of risk. If you would invest  109,792  in Israel Index on June 20, 2018 and sell it today you would lose (1,970)  from holding Israel Index or give up 1.79% of portfolio value over 30 days.

Pair Corralation between Israel Index and MerVal

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy79.31%
ValuesDaily Returns

Diversification

Pay attention

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

 Predicted Return Density 
      Returns 

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GOOG - USA Stock
Alphabet
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.96

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