Correlation Between B Communications and IBI Mutual
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By analyzing existing cross correlation between B Communications and IBI Mutual Funds, you can compare the effects of market volatilities on B Communications and IBI Mutual 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 B Communications with a short position of IBI Mutual. Check out your portfolio center. Please also check ongoing floating volatility patterns of B Communications and IBI Mutual.
Diversification Opportunities for B Communications and IBI Mutual
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BCOM and IBI is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding B Communications and IBI Mutual Funds in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IBI Mutual Funds and B Communications 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 B Communications are associated (or correlated) with IBI Mutual. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IBI Mutual Funds has no effect on the direction of B Communications i.e., B Communications and IBI Mutual go up and down completely randomly.
Pair Corralation between B Communications and IBI Mutual
Assuming the 90 days trading horizon B Communications is expected to generate 1.44 times more return on investment than IBI Mutual. However, B Communications is 1.44 times more volatile than IBI Mutual Funds. It trades about 0.03 of its potential returns per unit of risk. IBI Mutual Funds is currently generating about 0.03 per unit of risk. If you would invest 154,700 in B Communications on November 2, 2024 and sell it today you would earn a total of 36,900 from holding B Communications or generate 23.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
B Communications vs. IBI Mutual Funds
Performance |
| Timeline |
| B Communications |
| IBI Mutual Funds |
B Communications and IBI Mutual Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with B Communications and IBI Mutual
The main advantage of trading using opposite B Communications and IBI Mutual positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if B Communications position performs unexpectedly, IBI Mutual 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 IBI Mutual will offset losses from the drop in IBI Mutual's long position.| B Communications vs. Bezeq Israeli Telecommunication | B Communications vs. Partner | B Communications vs. Cellcom Israel | B Communications vs. Tower Semiconductor |
| IBI Mutual vs. Augwind Energy Tech | IBI Mutual vs. Spuntech | IBI Mutual vs. WhiteSmoke Software | IBI Mutual vs. Altshuler Shaham Financial |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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