Correlation Between Global Knafaim and IBI Mutual
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By analyzing existing cross correlation between Global Knafaim Leasing and IBI Mutual Funds, you can compare the effects of market volatilities on Global Knafaim 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 Global Knafaim with a short position of IBI Mutual. Check out your portfolio center. Please also check ongoing floating volatility patterns of Global Knafaim and IBI Mutual.
Diversification Opportunities for Global Knafaim and IBI Mutual
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Global and IBI is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Global Knafaim Leasing 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 Global Knafaim 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 Global Knafaim Leasing 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 Global Knafaim i.e., Global Knafaim and IBI Mutual go up and down completely randomly.
Pair Corralation between Global Knafaim and IBI Mutual
Assuming the 90 days trading horizon Global Knafaim Leasing is expected to under-perform the IBI Mutual. In addition to that, Global Knafaim is 1.11 times more volatile than IBI Mutual Funds. It trades about -0.17 of its total potential returns per unit of risk. IBI Mutual Funds is currently generating about 0.06 per unit of volatility. If you would invest 8,040 in IBI Mutual Funds on August 30, 2024 and sell it today you would earn a total of 130.00 from holding IBI Mutual Funds or generate 1.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 94.74% |
| Values | Daily Returns |
Global Knafaim Leasing vs. IBI Mutual Funds
Performance |
| Timeline |
| Global Knafaim Leasing |
| IBI Mutual Funds |
Global Knafaim and IBI Mutual Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Global Knafaim and IBI Mutual
The main advantage of trading using opposite Global Knafaim and IBI Mutual positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Global Knafaim 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.| Global Knafaim vs. Ormat Technologies | Global Knafaim vs. Multi Retail Group | Global Knafaim vs. Nova | Global Knafaim vs. B Communications |
| IBI Mutual vs. Nice | IBI Mutual vs. The Gold Bond | IBI Mutual vs. Bank Leumi Le Israel | IBI Mutual vs. ICL Israel Chemicals |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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