Correlation Between ISRACARD and NICE

By analyzing existing cross correlation between ISRACARD LTD and NICE LTD you can compare the effects of market volatilities on ISRACARD and NICE 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 ISRACARD with a short position of NICE. Check out your portfolio center. Please also check ongoing floating volatility patterns of ISRACARD and NICE.

Specify exactly 2 symbols:

Can any of the company-specific risk be diversified away by investing in both ISRACARD and NICE at the same time? Although using correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combing ISRACARD and NICE into the same portfolio which is an essential part of fundamental portfolio management process.

Diversification Opportunities for ISRACARD and NICE

<div class='circular--portrait-small' style='font-weight: 700;background:#FF6600;color: #FFFAFA;font-size:0.9em;padding-top: 12px;;'>NIC</div>

Pay attention - limited upside

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

Pair Corralation between ISRACARD and NICE

If you would invest  4,992,000  in NICE LTD on May 7, 2020 and sell it today you would earn a total of  1,652,000  from holding NICE LTD or generate 33.09% return on investment over 30 days.
Time Period3 Months [change]
ValuesDaily Returns


 Performance (%) 

ISRACARD Risk-Adjusted Performance

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

NICE Risk-Adjusted Performance

Over the last 30 days NICE LTD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat weak basic indicators, NICE sustained solid returns over the last few months and may actually be approaching a breakup point.

ISRACARD and NICE Volatility Contrast

Check out your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.

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