Correlation Analysis Between Coeur Mining and Israel Index

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

 Predicted Return Density 
      Returns 

Coeur Mining Inc  vs.  Israel Index

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Coeur Mining is expected to generate 4.41 times more return on investment than Israel Index. However, Coeur Mining is 4.41 times more volatile than Israel Index. It trades about 0.19 of its potential returns per unit of risk. Israel Index is currently generating about 0.13 per unit of risk. If you would invest  471.00  in Coeur Mining on November 15, 2019 and sell it today you would earn a total of  256.00  from holding Coeur Mining or generate 54.35% return on investment over 30 days.

Pair Corralation between Coeur Mining and Israel Index

-0.2
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy74.71%
ValuesDaily Returns

Diversification Opportunities for Coeur Mining and Israel Index

Coeur Mining Inc diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Coeur Mining Inc and Israel Index in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Israel Index and Coeur Mining 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 Coeur Mining 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 Coeur Mining i.e. Coeur Mining and Israel Index go up and down completely randomly.
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See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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