Correlation Between IBI Mutual and Nice
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By analyzing existing cross correlation between IBI Mutual Funds and Nice, you can compare the effects of market volatilities on IBI Mutual and Nice 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 Nice. Check out your portfolio center. Please also check ongoing floating volatility patterns of IBI Mutual and Nice.
Diversification Opportunities for IBI Mutual and Nice
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between IBI and Nice is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding IBI Mutual Funds and Nice in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nice 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 Nice. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nice has no effect on the direction of IBI Mutual i.e., IBI Mutual and Nice go up and down completely randomly.
Pair Corralation between IBI Mutual and Nice
Assuming the 90 days trading horizon IBI Mutual Funds is expected to generate 0.77 times more return on investment than Nice. However, IBI Mutual Funds is 1.3 times less risky than Nice. It trades about 0.01 of its potential returns per unit of risk. Nice is currently generating about 0.01 per unit of risk. If you would invest 7,910 in IBI Mutual Funds on August 29, 2024 and sell it today you would earn a total of 260.00 from holding IBI Mutual Funds or generate 3.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
IBI Mutual Funds vs. Nice
Performance |
| Timeline |
| IBI Mutual Funds |
| Nice |
IBI Mutual and Nice Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IBI Mutual and Nice
The main advantage of trading using opposite IBI Mutual and Nice positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IBI Mutual position performs unexpectedly, Nice 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 Nice will offset losses from the drop in Nice'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 |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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