Correlation Between Altshuler Shaham and G Willi
Can any of the company-specific risk be diversified away by investing in both Altshuler Shaham 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 Altshuler Shaham and G Willi 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 G Willi Food International, you can compare the effects of market volatilities on Altshuler Shaham 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 Altshuler Shaham with a short position of G Willi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Altshuler Shaham and G Willi.
Diversification Opportunities for Altshuler Shaham and G Willi
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Altshuler and WILC is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Altshuler Shaham Financial 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 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 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 Altshuler Shaham i.e., Altshuler Shaham and G Willi go up and down completely randomly.
Pair Corralation between Altshuler Shaham and G Willi
Assuming the 90 days trading horizon Altshuler Shaham Financial is expected to under-perform the G Willi. In addition to that, Altshuler Shaham is 1.3 times more volatile than G Willi Food International. It trades about -0.3 of its total potential returns per unit of risk. G Willi Food International is currently generating about -0.14 per unit of volatility. If you would invest 607,300 in G Willi Food International on November 3, 2024 and sell it today you would lose (17,700) from holding G Willi Food International or give up 2.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Altshuler Shaham Financial vs. G Willi Food International
Performance |
| Timeline |
| Altshuler Shaham Fin |
| G Willi Food |
Altshuler Shaham and G Willi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Altshuler Shaham and G Willi
The main advantage of trading using opposite Altshuler Shaham and G Willi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Altshuler Shaham 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.| Altshuler Shaham vs. Payment Financial Technologies | Altshuler Shaham vs. Harel Insurance Investments | Altshuler Shaham vs. Tower Semiconductor | Altshuler Shaham vs. Multi Retail Group |
| G Willi vs. Adgar Investments and | G Willi vs. Harel Insurance Investments | G Willi vs. Ram On Investments and | G Willi vs. Meitav Dash Investments |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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