Correlation Analysis Between NYSE and Israel Index

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

NYSE  vs.  Israel Index

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, NYSE is expected to generate 5.85 times less return on investment than Israel Index. But when comparing it to its historical volatility, NYSE is 1.36 times less risky than Israel Index. It trades about 0.03 of its potential returns per unit of risk. Israel Index is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  106,313  in Israel Index on May 19, 2018 and sell it today you would earn a total of  2,613  from holding Israel Index or generate 2.46% return on investment over 30 days.

Pair Corralation between NYSE and Israel Index

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Pay attention

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

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See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.