Correlation Between IShares 20 and Psagot Index
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By analyzing existing cross correlation between iShares 20 Year and Psagot Index Funds, you can compare the effects of market volatilities on IShares 20 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 20 with a short position of Psagot Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of IShares 20 and Psagot Index.
Diversification Opportunities for IShares 20 and Psagot Index
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between IShares and Psagot is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding iShares 20 Year 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 20 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 20 Year 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 20 i.e., IShares 20 and Psagot Index go up and down completely randomly.
Pair Corralation between IShares 20 and Psagot Index
Considering the 90-day investment horizon iShares 20 Year is expected to under-perform the Psagot Index. But the etf apears to be less risky and, when comparing its historical volatility, iShares 20 Year is 1.12 times less risky than Psagot Index. The etf trades about -0.03 of its potential returns per unit of risk. The Psagot Index Funds is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 153,900 in Psagot Index Funds on January 24, 2024 and sell it today you would lose (25,300) from holding Psagot Index Funds or give up 16.44% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 78.74% |
| Values | Daily Returns |
iShares 20 Year vs. Psagot Index Funds
Performance |
| Timeline |
| iShares 20 Year |
| Psagot Index Funds |
IShares 20 and Psagot Index Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IShares 20 and Psagot Index
The main advantage of trading using opposite IShares 20 and Psagot Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IShares 20 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 20 vs. iShares Treasury Floating | IShares 20 vs. iShares iBonds Dec | IShares 20 vs. iShares iBonds Dec | IShares 20 vs. iShares 0 3 Month |
| 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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