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.

Specify exactly 2 symbols:

Refresh Compare

Diversification Opportunities for CLAL BIOTECHNOLOGY and COMPUGEN

CLAL BIOTECHNOLOGY diversification synergy
<div class='circular--portrait-small' style='background:#FF9E01;color: white;font-size:1.1em;padding-top: 12px;;'>CLA</div>
<div class='circular--portrait-small' style='background:#FF9E01;color: white;font-size:1.5em;padding-top: 7px;;'>CO</div>

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]
ValuesDaily Returns


 Performance (%) 

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 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.


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

Macroaxis is not a registered investment advisor or broker/dealer. All investments, including stocks, funds, ETFs, or cryptocurrencies, are speculative and involve substantial risk of loss. We encourage our investors to invest carefully. Much of our information is derived directly from data published by companies or submitted to governmental agencies which we believe are reliable, but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way warrant or guarantee the success of any action you take in reliance on our statements or recommendations. Also, note that past performance is not necessarily indicative of future results. All investments carry risk, and all investment decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or signals will result in profits or that they will not result in losses. All investors are advised to fully understand all risks associated with any investing they choose to do. Hypothetical or simulated performance is not indicative of future results. We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown because hypothetical or simulated performance is not necessarily indicative of future results. For more information please visit our terms and condition page