Correlation Between Altshuler Shaham and Holmes Place
Can any of the company-specific risk be diversified away by investing in both Altshuler Shaham and Holmes Place 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 Altshuler Shaham and Holmes Place into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Altshuler Shaham Financial and Holmes Place International, you can compare the effects of market volatilities on Altshuler Shaham and Holmes Place 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 Altshuler Shaham with a short position of Holmes Place. Check out your portfolio center. Please also check ongoing floating volatility patterns of Altshuler Shaham and Holmes Place.
Diversification Opportunities for Altshuler Shaham and Holmes Place
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Altshuler and Holmes is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Altshuler Shaham Financial and Holmes Place International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Holmes Place Interna and Altshuler Shaham 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 Altshuler Shaham Financial are associated (or correlated) with Holmes Place. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Holmes Place Interna has no effect on the direction of Altshuler Shaham i.e., Altshuler Shaham and Holmes Place go up and down completely randomly.
Pair Corralation between Altshuler Shaham and Holmes Place
Assuming the 90 days trading horizon Altshuler Shaham Financial is expected to under-perform the Holmes Place. In addition to that, Altshuler Shaham is 2.93 times more volatile than Holmes Place International. It trades about -0.03 of its total potential returns per unit of risk. Holmes Place International is currently generating about 0.41 per unit of volatility. If you would invest 63,000 in Holmes Place International on November 27, 2024 and sell it today you would earn a total of 2,500 from holding Holmes Place International or generate 3.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Altshuler Shaham Financial vs. Holmes Place International
Performance |
| Timeline |
| Altshuler Shaham Fin |
| Holmes Place Interna |
Altshuler Shaham and Holmes Place Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Altshuler Shaham and Holmes Place
The main advantage of trading using opposite Altshuler Shaham and Holmes Place positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Altshuler Shaham position performs unexpectedly, Holmes Place 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 Holmes Place will offset losses from the drop in Holmes Place's long position.| Altshuler Shaham vs. Clal Insurance Enterprises | Altshuler Shaham vs. Arad Investment Industrial | Altshuler Shaham vs. Payment Financial Technologies | Altshuler Shaham vs. Scope Metals Group |
| Holmes Place vs. Fattal 1998 Holdings | Holmes Place vs. Delek Group | Holmes Place vs. Bank Leumi Le Israel | Holmes Place vs. Matrix |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges |