Correlation Between IShares Core and Psagot Index
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By analyzing existing cross correlation between iShares Core MSCI and Psagot Index Funds, you can compare the effects of market volatilities on IShares Core and Psagot 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 IShares Core with a short position of Psagot Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of IShares Core and Psagot Index.
Diversification Opportunities for IShares Core and Psagot Index
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between IShares and Psagot is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core MSCI and Psagot Index Funds in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Psagot Index Funds and IShares Core 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 iShares Core MSCI are associated (or correlated) with Psagot Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Psagot Index Funds has no effect on the direction of IShares Core i.e., IShares Core and Psagot Index go up and down completely randomly.
Pair Corralation between IShares Core and Psagot Index
Given the investment horizon of 90 days iShares Core MSCI is expected to generate 0.81 times more return on investment than Psagot Index. However, iShares Core MSCI is 1.24 times less risky than Psagot Index. It trades about 0.03 of its potential returns per unit of risk. Psagot Index Funds is currently generating about -0.03 per unit of risk. If you would invest 5,730 in iShares Core MSCI on January 24, 2024 and sell it today you would earn a total of 752.00 from holding iShares Core MSCI or generate 13.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 78.59% |
| Values | Daily Returns |
iShares Core MSCI vs. Psagot Index Funds
Performance |
| Timeline |
| iShares Core MSCI |
| Psagot Index Funds |
IShares Core and Psagot Index Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IShares Core and Psagot Index
The main advantage of trading using opposite IShares Core and Psagot Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IShares Core position performs unexpectedly, Psagot Index can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Psagot Index will offset losses from the drop in Psagot Index's long position.| IShares Core vs. iShares ESG Aware | IShares Core vs. iShares ESG Aware | IShares Core vs. iShares ESG Aware | IShares Core vs. iShares MSCI USA |
| Psagot Index vs. Psagot ETF 00 | Psagot Index vs. Psagot Index Funds | Psagot Index vs. Psagot Index Funds | Psagot Index vs. Psagot Index Funds |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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