Correlation Between IBI Mutual and Elbit Medical
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By analyzing existing cross correlation between IBI Mutual Funds and Elbit Medical Technologies, you can compare the effects of market volatilities on IBI Mutual and Elbit Medical 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 Elbit Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of IBI Mutual and Elbit Medical.
Diversification Opportunities for IBI Mutual and Elbit Medical
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between IBI and Elbit is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding IBI Mutual Funds and Elbit Medical Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Elbit Medical Techno 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 Elbit Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Elbit Medical Techno has no effect on the direction of IBI Mutual i.e., IBI Mutual and Elbit Medical go up and down completely randomly.
Pair Corralation between IBI Mutual and Elbit Medical
Assuming the 90 days trading horizon IBI Mutual Funds is expected to generate 0.65 times more return on investment than Elbit Medical. However, IBI Mutual Funds is 1.54 times less risky than Elbit Medical. It trades about 0.09 of its potential returns per unit of risk. Elbit Medical Technologies is currently generating about -0.58 per unit of risk. If you would invest 7,690 in IBI Mutual Funds on September 18, 2024 and sell it today you would earn a total of 250.00 from holding IBI Mutual Funds or generate 3.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
IBI Mutual Funds vs. Elbit Medical Technologies
Performance |
| Timeline |
| IBI Mutual Funds |
| Elbit Medical Techno |
IBI Mutual and Elbit Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IBI Mutual and Elbit Medical
The main advantage of trading using opposite IBI Mutual and Elbit Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IBI Mutual position performs unexpectedly, Elbit Medical 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 Elbit Medical will offset losses from the drop in Elbit Medical's 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 |
| Elbit Medical vs. Nice | Elbit Medical vs. The Gold Bond | Elbit Medical vs. Bank Leumi Le Israel | Elbit Medical 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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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