Correlation Between IBI Mutual and Multi Retail
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By analyzing existing cross correlation between IBI Mutual Funds and Multi Retail Group, you can compare the effects of market volatilities on IBI Mutual and Multi Retail 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 Multi Retail. Check out your portfolio center. Please also check ongoing floating volatility patterns of IBI Mutual and Multi Retail.
Diversification Opportunities for IBI Mutual and Multi Retail
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between IBI and Multi is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding IBI Mutual Funds and Multi Retail Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multi Retail Group 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 Multi Retail. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multi Retail Group has no effect on the direction of IBI Mutual i.e., IBI Mutual and Multi Retail go up and down completely randomly.
Pair Corralation between IBI Mutual and Multi Retail
Assuming the 90 days trading horizon IBI Mutual is expected to generate 4.39 times less return on investment than Multi Retail. But when comparing it to its historical volatility, IBI Mutual Funds is 2.03 times less risky than Multi Retail. It trades about 0.07 of its potential returns per unit of risk. Multi Retail Group is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 29,760 in Multi Retail Group on September 4, 2024 and sell it today you would earn a total of 75,240 from holding Multi Retail Group or generate 252.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
IBI Mutual Funds vs. Multi Retail Group
Performance |
| Timeline |
| IBI Mutual Funds |
| Multi Retail Group |
IBI Mutual and Multi Retail Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IBI Mutual and Multi Retail
The main advantage of trading using opposite IBI Mutual and Multi Retail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IBI Mutual position performs unexpectedly, Multi Retail 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 Multi Retail will offset losses from the drop in Multi Retail's long position.| IBI Mutual vs. Bezeq Israeli Telecommunication | IBI Mutual vs. Batm Advanced Communications | IBI Mutual vs. Hiron Trade Investments Industrial | IBI Mutual vs. Feat Fund Investments |
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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