Correlation Analysis Between Flux Power and Israel Index

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

 Predicted Return Density 
      Returns 

Flux Power Holdings  vs.  Israel Index

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Flux Power Holdings is expected to generate 9.31 times more return on investment than Israel Index. However, Flux Power is 9.31 times more volatile than Israel Index. It trades about 0.01 of its potential returns per unit of risk. Israel Index is currently generating about 0.1 per unit of risk. If you would invest  1,000.00  in Flux Power Holdings on November 10, 2019 and sell it today you would lose (150.00)  from holding Flux Power Holdings or give up 15.0% of portfolio value over 30 days.

Pair Corralation between Flux Power and Israel Index

-0.1
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy75.58%
ValuesDaily Returns

Diversification Opportunities for Flux Power and Israel Index

Flux Power Holdings diversification synergy

Good diversification

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