Correlation Between Holmes Place and Altshuler Shaham
Can any of the company-specific risk be diversified away by investing in both Holmes Place and Altshuler Shaham 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 Holmes Place and Altshuler Shaham into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Holmes Place International and Altshuler Shaham Financial, you can compare the effects of market volatilities on Holmes Place and Altshuler Shaham 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 Holmes Place with a short position of Altshuler Shaham. Check out your portfolio center. Please also check ongoing floating volatility patterns of Holmes Place and Altshuler Shaham.
Diversification Opportunities for Holmes Place and Altshuler Shaham
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Holmes and Altshuler is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Holmes Place International and Altshuler Shaham Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Altshuler Shaham Fin and Holmes Place 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 Holmes Place International are associated (or correlated) with Altshuler Shaham. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Altshuler Shaham Fin has no effect on the direction of Holmes Place i.e., Holmes Place and Altshuler Shaham go up and down completely randomly.
Pair Corralation between Holmes Place and Altshuler Shaham
Assuming the 90 days trading horizon Holmes Place International is expected to generate 0.34 times more return on investment than Altshuler Shaham. However, Holmes Place International is 2.93 times less risky than Altshuler Shaham. It trades about 0.41 of its potential returns per unit of risk. Altshuler Shaham Financial is currently generating about -0.03 per unit of risk. 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 |
Holmes Place International vs. Altshuler Shaham Financial
Performance |
| Timeline |
| Holmes Place Interna |
| Altshuler Shaham Fin |
Holmes Place and Altshuler Shaham Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Holmes Place and Altshuler Shaham
The main advantage of trading using opposite Holmes Place and Altshuler Shaham positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Holmes Place position performs unexpectedly, Altshuler Shaham 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 Altshuler Shaham will offset losses from the drop in Altshuler Shaham's long position.| Holmes Place vs. Fattal 1998 Holdings | Holmes Place vs. Delek Group | Holmes Place vs. Bank Leumi Le Israel | Holmes Place vs. Matrix |
| Altshuler Shaham vs. Clal Insurance Enterprises | Altshuler Shaham vs. Arad Investment Industrial | Altshuler Shaham vs. Payment Financial Technologies | Altshuler Shaham vs. Scope Metals Group |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |