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Correlation Between Israel Index and YAACOBI BROTHERS

Analyzing existing cross correlation between Israel Index and YAACOBI BROTHERS. You can compare the effects of market volatilities on Israel Index and YAACOBI BROTHERS 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 Israel Index with a short position of YAACOBI BROTHERS. See also your portfolio center. Please also check ongoing floating volatility patterns of Israel Index and YAACOBI BROTHERS.
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Comparative Performance

 Predicted Return Density 
    
  Returns 

Israel Index  vs.  YAACOBI BROTHERS

 Performance (%) 
    
  Timeline 

Pair Volatility

Assuming 30 trading days horizon, Israel Index is expected to generate 0.29 times more return on investment than YAACOBI BROTHERS. However, Israel Index is 3.47 times less risky than YAACOBI BROTHERS. It trades about 0.06 of its potential returns per unit of risk. YAACOBI BROTHERS is currently generating about -0.35 per unit of risk. If you would invest  108,987  in Israel Index on January 17, 2020 and sell it today you would earn a total of  5,517  from holding Israel Index or generate 5.06% return on investment over 30 days.

Pair Corralation between Israel Index and YAACOBI BROTHERS

-0.77
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy61.64%
ValuesDaily Returns

Diversification Opportunities for Israel Index and YAACOBI BROTHERS

Israel Index diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Israel Index and YAACOBI BROTHERS in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on YAACOBI BROTHERS and Israel Index 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 Israel Index are associated (or correlated) with YAACOBI BROTHERS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of YAACOBI BROTHERS has no effect on the direction of Israel Index i.e. Israel Index and YAACOBI BROTHERS go up and down completely randomly.
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See also your portfolio center. Please also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.