Correlation Analysis Between NZSE and Israel Index

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

NZSE  vs.  Israel Index

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, NZSE is expected to under-perform the Israel Index. But the index apears to be less risky and, when comparing its historical volatility, NZSE is 1.51 times less risky than Israel Index. The index trades about -0.13 of its potential returns per unit of risk. The Israel Index is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  108,049  in Israel Index on June 23, 2018 and sell it today you would earn a total of  339.00  from holding Israel Index or generate 0.31% return on investment over 30 days.

Pair Corralation between NZSE and Israel Index

0.52
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding NZSE and Israel Index in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Israel Index and NZSE 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 NZSE 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 NZSE i.e. NZSE and Israel Index 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
$1184.91

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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.


 
vendors/bower_components/jquery.easy-pie-chart/dist/jquery.easypiechart.min.js">