Correlation Analysis Between Israel Index and NQTH

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

Israel Index  vs.  NQTH

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Israel Index is expected to under-perform the NQTH. In addition to that, Israel Index is 1.17 times more volatile than NQTH. It trades about -0.3 of its total potential returns per unit of risk. NQTH is currently generating about -0.19 per unit of volatility. If you would invest  117,394  in NQTH on September 18, 2018 and sell it today you would lose (4,871)  from holding NQTH or give up 4.15% of portfolio value over 30 days.

Pair Corralation between Israel Index and NQTH

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

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1092.25

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