Correlation Analysis Between Israel Index and NZSE

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

Israel Index  vs.  NZSE

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Israel Index is expected to under-perform the NZSE. In addition to that, Israel Index is 1.54 times more volatile than NZSE. It trades about -0.02 of its total potential returns per unit of risk. NZSE is currently generating about 0.01 per unit of volatility. If you would invest  897,423  in NZSE on June 16, 2018 and sell it today you would earn a total of  608.00  from holding NZSE or generate 0.07% return on investment over 30 days.

Pair Corralation between Israel Index and NZSE

0.18
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1183.86

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Insider Screener module to find insiders across different sectors to evaluate their impact on performance.