Correlation Analysis Between EGUANA TECHNOLOGIES and Israel Index

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

EGUANA TECHNOLOGIES INC  vs.  Israel Index

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  99,371  in Israel Index on October 20, 2019 and sell it today you would earn a total of  9,754  from holding Israel Index or generate 9.82% return on investment over 30 days.

Pair Corralation between EGUANA TECHNOLOGIES and Israel Index

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for EGUANA TECHNOLOGIES and Israel Index

EGUANA TECHNOLOGIES INC diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding EGUANA TECHNOLOGIES INC and Israel Index in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Israel Index and EGUANA TECHNOLOGIES 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 EGUANA TECHNOLOGIES INC 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 EGUANA TECHNOLOGIES i.e. EGUANA TECHNOLOGIES and Israel Index go up and down completely randomly.
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See also your portfolio center. Please also try Balance Of Power module to check stock momentum by analyzing balance of power indicator and other technical ratios.


 
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