Correlation Between Adgar Investments and G Willi
Can any of the company-specific risk be diversified away by investing in both Adgar Investments and G Willi at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Adgar Investments and G Willi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Adgar Investments and and G Willi Food International, you can compare the effects of market volatilities on Adgar Investments and G Willi 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 Adgar Investments with a short position of G Willi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Adgar Investments and G Willi.
Diversification Opportunities for Adgar Investments and G Willi
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Adgar and WILC is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Adgar Investments and and G Willi Food International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on G Willi Food and Adgar Investments 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 Adgar Investments and are associated (or correlated) with G Willi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of G Willi Food has no effect on the direction of Adgar Investments i.e., Adgar Investments and G Willi go up and down completely randomly.
Pair Corralation between Adgar Investments and G Willi
Assuming the 90 days trading horizon Adgar Investments is expected to generate 1.07 times less return on investment than G Willi. In addition to that, Adgar Investments is 1.02 times more volatile than G Willi Food International. It trades about 0.01 of its total potential returns per unit of risk. G Willi Food International is currently generating about 0.01 per unit of volatility. If you would invest 515,295 in G Willi Food International on September 1, 2024 and sell it today you would earn a total of 16,005 from holding G Willi Food International or generate 3.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Adgar Investments and vs. G Willi Food International
Performance |
| Timeline |
| Adgar Investments |
| G Willi Food |
Adgar Investments and G Willi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Adgar Investments and G Willi
The main advantage of trading using opposite Adgar Investments and G Willi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Adgar Investments position performs unexpectedly, G Willi 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 G Willi will offset losses from the drop in G Willi's long position.| Adgar Investments vs. Alony Hetz Properties | Adgar Investments vs. Azrieli Group | Adgar Investments vs. Migdal Insurance | Adgar Investments vs. Amot Investments |
| G Willi vs. Retailors | G Willi vs. Meitav Trade Inv | G Willi vs. Technoplus Ventures | G Willi vs. Abra Information Technologies |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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