Correlation Between Harel Index and Harel Sal
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By analyzing existing cross correlation between Harel Index Funds and Harel Sal Tel Bond, you can compare the effects of market volatilities on Harel Index and Harel Sal 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 Harel Index with a short position of Harel Sal. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harel Index and Harel Sal.
Diversification Opportunities for Harel Index and Harel Sal
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Harel and Harel is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Harel Index Funds and Harel Sal Tel Bond in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harel Sal Tel and Harel Index 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 Harel Index Funds are associated (or correlated) with Harel Sal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harel Sal Tel has no effect on the direction of Harel Index i.e., Harel Index and Harel Sal go up and down completely randomly.
Pair Corralation between Harel Index and Harel Sal
Assuming the 90 days trading horizon Harel Index Funds is expected to generate 1.11 times more return on investment than Harel Sal. However, Harel Index is 1.11 times more volatile than Harel Sal Tel Bond. It trades about 0.3 of its potential returns per unit of risk. Harel Sal Tel Bond is currently generating about 0.22 per unit of risk. If you would invest 38,903 in Harel Index Funds on August 29, 2024 and sell it today you would earn a total of 1,066 from holding Harel Index Funds or generate 2.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harel Index Funds vs. Harel Sal Tel Bond
Performance |
| Timeline |
| Harel Index Funds |
| Harel Sal Tel |
Harel Index and Harel Sal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harel Index and Harel Sal
The main advantage of trading using opposite Harel Index and Harel Sal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harel Index position performs unexpectedly, Harel Sal 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 Harel Sal will offset losses from the drop in Harel Sal's long position.| Harel Index vs. Harel Index Funds | Harel Index vs. Harel Sal Tel Bond | Harel Index vs. Harel Index Funds | Harel Index vs. Harel Index Funds |
| Harel Sal vs. Harel Index Funds | Harel Sal vs. Harel Index Funds | Harel Sal vs. Harel Index Funds | Harel Sal vs. Harel 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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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