Correlation Between IBI Mutual and B Communications
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By analyzing existing cross correlation between IBI Mutual Funds and B Communications, you can compare the effects of market volatilities on IBI Mutual and B Communications 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 IBI Mutual with a short position of B Communications. Check out your portfolio center. Please also check ongoing floating volatility patterns of IBI Mutual and B Communications.
Diversification Opportunities for IBI Mutual and B Communications
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between IBI and BCOM is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding IBI Mutual Funds and B Communications in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on B Communications and IBI Mutual 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 IBI Mutual Funds are associated (or correlated) with B Communications. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of B Communications has no effect on the direction of IBI Mutual i.e., IBI Mutual and B Communications go up and down completely randomly.
Pair Corralation between IBI Mutual and B Communications
Assuming the 90 days trading horizon IBI Mutual is expected to generate 1.3 times less return on investment than B Communications. In addition to that, IBI Mutual is 1.16 times more volatile than B Communications. It trades about 0.09 of its total potential returns per unit of risk. B Communications is currently generating about 0.14 per unit of volatility. If you would invest 168,800 in B Communications on September 18, 2024 and sell it today you would earn a total of 8,100 from holding B Communications or generate 4.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 94.44% |
| Values | Daily Returns |
IBI Mutual Funds vs. B Communications
Performance |
| Timeline |
| IBI Mutual Funds |
| B Communications |
IBI Mutual and B Communications Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IBI Mutual and B Communications
The main advantage of trading using opposite IBI Mutual and B Communications positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IBI Mutual position performs unexpectedly, B Communications 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 B Communications will offset losses from the drop in B Communications' long position.| IBI Mutual vs. Nice | IBI Mutual vs. The Gold Bond | IBI Mutual vs. Bank Leumi Le Israel | IBI Mutual vs. ICL Israel Chemicals |
| B Communications vs. Tower Semiconductor | B Communications vs. Israel Discount Bank | B Communications vs. Photomyne | B Communications vs. M Yochananof and |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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