Pair Correlation 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.
Investment Horizon     30 Days    Login   to change
 Madrid Gnrl  vs   Israel Index
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Madrid Gnrl is expected to under-perform the Israel Index. In addition to that, Madrid Gnrl is 1.03 times more volatile than Israel Index. It trades about -0.06 of its total potential returns per unit of risk. Israel Index is currently generating about 0.05 per unit of volatility. If you would invest  96,574  in Israel Index on October 25, 2017 and sell it today you would earn a total of  922  from holding Israel Index or generate 0.95% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Madrid Gnrl and Israel Index


Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Modest 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