Correlation Analysis Between AMIDEX35 Israel and Fidelity Series

This module allows you to analyze existing cross correlation between AMIDEX35 Israel Mutual Fund and Fidelity Series Canada Fund. You can compare the effects of market volatilities on AMIDEX35 Israel and Fidelity Series 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 AMIDEX35 Israel with a short position of Fidelity Series. See also your portfolio center. Please also check ongoing floating volatility patterns of AMIDEX35 Israel and Fidelity Series.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

AMIDEX35 Israel Mutual  
00

Risk-Adjusted Fund Performance

Over the last 30 days AMIDEX35 Israel Mutual Fund has generated negative risk-adjusted returns adding no value to fund investors. Inspite fairly strong basic indicators, AMIDEX35 Israel is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Fidelity Series Canada  
33

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Fidelity Series Canada Fund are ranked lower than 3 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, Fidelity Series is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

AMIDEX35 Israel and Fidelity Series Volatility Contrast

 Predicted Return Density 
      Returns 

AMIDEX35 Israel Mutual Fund  vs.  Fidelity Series Canada Fund

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, AMIDEX35 Israel Mutual Fund is expected to under-perform the Fidelity Series. In addition to that, AMIDEX35 Israel is 1.09 times more volatile than Fidelity Series Canada Fund. It trades about -0.01 of its total potential returns per unit of risk. Fidelity Series Canada Fund is currently generating about 0.05 per unit of volatility. If you would invest  1,094  in Fidelity Series Canada Fund on August 22, 2019 and sell it today you would earn a total of  22.00  from holding Fidelity Series Canada Fund or generate 2.01% return on investment over 30 days.

Pair Corralation between AMIDEX35 Israel and Fidelity Series

0.64
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for AMIDEX35 Israel and Fidelity Series

AMIDEX35 Israel Mutual Fund diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding AMIDEX35 Israel Mutual Fund and Fidelity Series Canada Fund in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Fidelity Series Canada and AMIDEX35 Israel 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 AMIDEX35 Israel Mutual Fund are associated (or correlated) with Fidelity Series. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fidelity Series Canada has no effect on the direction of AMIDEX35 Israel i.e. AMIDEX35 Israel and Fidelity Series go up and down completely randomly.
See also your portfolio center. Please also try Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.


 
Search macroaxis.com