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Correlation Between CLAL BIOTECHNOLOGY and COMPUGEN

Analyzing existing cross correlation between CLAL BIOTECHNOLOGY and COMPUGEN. You can compare the effects of market volatilities on CLAL BIOTECHNOLOGY and COMPUGEN 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 CLAL BIOTECHNOLOGY with a short position of COMPUGEN. Check out your portfolio center. Please also check ongoing floating volatility patterns of CLAL BIOTECHNOLOGY and COMPUGEN.

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Diversification Opportunities for CLAL BIOTECHNOLOGY and COMPUGEN

CLAL BIOTECHNOLOGY diversification synergy
0.0
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Pay attention - limited upside

The 3 months correlation between CLAL BIOTECHNOLOGY and COMPUGEN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CLAL BIOTECHNOLOGY and COMPUGEN in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on COMPUGEN and CLAL BIOTECHNOLOGY 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 CLAL BIOTECHNOLOGY are associated (or correlated) with COMPUGEN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COMPUGEN has no effect on the direction of CLAL BIOTECHNOLOGY i.e. CLAL BIOTECHNOLOGY and COMPUGEN go up and down completely randomly.

Pair Corralation between CLAL BIOTECHNOLOGY and COMPUGEN

If you would invest  208,500  in COMPUGEN on February 27, 2020 and sell it today you would earn a total of  66,900  from holding COMPUGEN or generate 32.09% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

CLAL BIOTECHNOLOGY  vs.  COMPUGEN

 Performance (%) 
    
  Timeline 
CLAL BIOTECHNOLOGY 
00

CLAL BIOTECHNOLOGY Risk-Adjusted Performance

Over the last 30 days CLAL BIOTECHNOLOGY has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, CLAL BIOTECHNOLOGY is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
COMPUGEN 
88

COMPUGEN Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in COMPUGEN are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, COMPUGEN sustained solid returns over the last few months and may actually be approaching a breakup point.

CLAL BIOTECHNOLOGY and COMPUGEN Volatility Contrast

Check out your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.


 
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