Correlation Analysis Between Madrid Gnrl and Israel Index

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

Madrid Gnrl  vs.  Israel Index

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Madrid Gnrl is expected to generate 0.78 times more return on investment than Israel Index. However, Madrid Gnrl is 1.28 times less risky than Israel Index. It trades about -0.02 of its potential returns per unit of risk. Israel Index is currently generating about -0.06 per unit of risk. If you would invest  90,298  in Madrid Gnrl on November 13, 2018 and sell it today you would lose (1,212)  from holding Madrid Gnrl or give up 1.34% of portfolio value over 30 days.

Pair Corralation between Madrid Gnrl and Israel Index

Time Period2 Months [change]
ValuesDaily Returns


Madrid Gnrl diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Madrid Gnrl and Israel Index in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Israel Index and Madrid Gnrl 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 Madrid Gnrl 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 Madrid Gnrl i.e. Madrid Gnrl and Israel Index go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.