Correlation Between Ceragon Networks and Psagot Index
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By analyzing existing cross correlation between Ceragon Networks and Psagot Index Funds, you can compare the effects of market volatilities on Ceragon Networks 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 Ceragon Networks with a short position of Psagot Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ceragon Networks and Psagot Index.
Diversification Opportunities for Ceragon Networks and Psagot Index
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Ceragon and Psagot is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Ceragon Networks 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 Ceragon Networks 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 Ceragon Networks 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 Ceragon Networks i.e., Ceragon Networks and Psagot Index go up and down completely randomly.
Pair Corralation between Ceragon Networks and Psagot Index
Given the investment horizon of 90 days Ceragon Networks is expected to generate 10.57 times more return on investment than Psagot Index. However, Ceragon Networks is 10.57 times more volatile than Psagot Index Funds. It trades about 0.5 of its potential returns per unit of risk. Psagot Index Funds is currently generating about -0.13 per unit of risk. If you would invest 242.00 in Ceragon Networks on September 5, 2024 and sell it today you would earn a total of 197.00 from holding Ceragon Networks or generate 81.4% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 81.82% |
Values | Daily Returns |
Ceragon Networks vs. Psagot Index Funds
Performance |
Timeline |
Ceragon Networks |
Psagot Index Funds |
Ceragon Networks and Psagot Index Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Ceragon Networks and Psagot Index
The main advantage of trading using opposite Ceragon Networks and Psagot Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ceragon Networks 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.Ceragon Networks vs. Cambium Networks Corp | Ceragon Networks vs. KVH Industries | Ceragon Networks vs. Knowles Cor | Ceragon Networks vs. AudioCodes |
Psagot Index vs. Psagot Index Funds | 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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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