Correlation Analysis Between OMXVGI and Israel Index

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

OMXVGI  vs.  Israel Index

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OMXVGI is expected to under-perform the Israel Index. But the index apears to be less risky and, when comparing its historical volatility, OMXVGI is 2.37 times less risky than Israel Index. The index trades about -0.22 of its potential returns per unit of risk. The Israel Index is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  113,634  in Israel Index on August 26, 2018 and sell it today you would earn a total of  4,308  from holding Israel Index or generate 3.79% return on investment over 30 days.

Pair Corralation between OMXVGI and Israel Index

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 OMXVGI and Israel Index in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Israel Index and OMXVGI 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 OMXVGI 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 OMXVGI i.e. OMXVGI and Israel Index go up and down completely randomly.
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Comparative Volatility

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