Correlation Analysis Between GDI INTEGRATED and Israel Index

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

 Predicted Return Density 
      Returns 

GDI INTEGRATED FACILITY SERVIC  vs.  Israel Index

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, GDI INTEGRATED FACILITY SERVICE is expected to generate 1.26 times more return on investment than Israel Index. However, GDI INTEGRATED is 1.26 times more volatile than Israel Index. It trades about 0.45 of its potential returns per unit of risk. Israel Index is currently generating about 0.15 per unit of risk. If you would invest  2,877  in GDI INTEGRATED FACILITY SERVICE on October 15, 2019 and sell it today you would earn a total of  332.00  from holding GDI INTEGRATED FACILITY SERVICE or generate 11.54% return on investment over 30 days.

Pair Corralation between GDI INTEGRATED and Israel Index

-0.5
Time Period3 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy34.92%
ValuesDaily Returns

Diversification Opportunities for GDI INTEGRATED and Israel Index

GDI INTEGRATED FACILITY SERVIC diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding GDI INTEGRATED FACILITY SERVIC and Israel Index in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Israel Index and GDI INTEGRATED 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 GDI INTEGRATED FACILITY SERVICE 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 GDI INTEGRATED i.e. GDI INTEGRATED and Israel Index go up and down completely randomly.
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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.


 
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