Correlation Analysis Between AMC Entertainment and Israel Index

Analyzing existing cross correlation between AMC Entertainment Holdings and Israel Index. You can compare the effects of market volatilities on AMC Entertainment 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 AMC Entertainment with a short position of Israel Index. See also your portfolio center. Please also check ongoing floating volatility patterns of AMC Entertainment and Israel Index.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
    
  Returns 

AMC Entertainment Holdings Inc  vs.  Israel Index

 Performance (%) 
    
  Timeline 

Pair Volatility

Considering 30-days investment horizon, AMC Entertainment Holdings is expected to under-perform the Israel Index. In addition to that, AMC Entertainment is 3.64 times more volatile than Israel Index. It trades about -0.2 of its total potential returns per unit of risk. Israel Index is currently generating about 0.11 per unit of volatility. If you would invest  105,320  in Israel Index on December 26, 2019 and sell it today you would earn a total of  7,432  from holding Israel Index or generate 7.06% return on investment over 30 days.

Pair Corralation between AMC Entertainment and Israel Index

-0.58
Time Period3 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy79.75%
ValuesDaily Returns

Diversification Opportunities for AMC Entertainment and Israel Index

AMC Entertainment Holdings Inc diversification synergy

Excellent diversification

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