Pair Correlation Between Israel Index and NIKKEI 225 |
This module allows you to analyze existing cross correlation between Israel Index and NIKKEI 225. You can compare the effects of market volatilities on Israel Index and NIKKEI 225 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 NIKKEI 225. See also your portfolio center. Please also check ongoing floating volatility patterns of Israel Index and NIKKEI 225.
Time Horizon | 30 Days Login to change |
Symbols | vs |
Israel Index vs. NIKKEI 225
Pair Volatility
Assuming 30 trading days horizon, Israel Index is expected to under-perform the NIKKEI 225. In addition to that, Israel Index is 1.0 times more volatile than NIKKEI 225. It trades about -0.12 of its total potential returns per unit of risk. NIKKEI 225 is currently generating about 0.02 per unit of volatility. If you would invest 2,215,363 in NIKKEI 225 on March 28, 2018 and sell it today you would earn a total of 16,598 from holding NIKKEI 225 or generate 0.75% return on investment over 30 days.
Pair Corralation between Israel Index and NIKKEI 225
0.91
Time Period | 2 Months [change] |
Direction | Positive |
Strength | Very Strong |
Accuracy | 85.45% |
Values | Daily Returns |
Diversification
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Israel Index and NIKKEI 225 in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIKKEI 225 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 NIKKEI 225. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NIKKEI 225 has no effect on the direction of Israel Index i.e. Israel Index and NIKKEI 225 go up and down completely randomly.
Comparative Volatility
Israel Index
Pair trading matchups for Israel Index
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See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.