Correlation Analysis Between Gardner Denver and Israel Index

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

 Predicted Return Density 
      Returns 

Gardner Denver Holdings Inc  vs.  Israel Index

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Gardner Denver Holdings is expected to generate 2.49 times more return on investment than Israel Index. However, Gardner Denver is 2.49 times more volatile than Israel Index. It trades about 0.07 of its potential returns per unit of risk. Israel Index is currently generating about 0.15 per unit of risk. If you would invest  3,025  in Gardner Denver Holdings on October 16, 2019 and sell it today you would earn a total of  275.00  from holding Gardner Denver Holdings or generate 9.09% return on investment over 30 days.

Pair Corralation between Gardner Denver and Israel Index

0.32
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Gardner Denver and Israel Index

Gardner Denver Holdings Inc diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Gardner Denver 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 Gardner Denver 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 Gardner Denver 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 Gardner Denver i.e. Gardner Denver and Israel Index go up and down completely randomly.
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See also your portfolio center. Please also try Market Hitters module to find equities that experience drastic asymmetry in trading patters, price, volume, or investment outlook..


 
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