Correlation Between Mobile Max and Inbar Group
Can any of the company-specific risk be diversified away by investing in both Mobile Max and Inbar Group at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Mobile Max and Inbar Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mobile Max M and Inbar Group Finance, you can compare the effects of market volatilities on Mobile Max and Inbar Group 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 Mobile Max with a short position of Inbar Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mobile Max and Inbar Group.
Diversification Opportunities for Mobile Max and Inbar Group
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mobile and Inbar is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Mobile Max M and Inbar Group Finance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inbar Group Finance and Mobile Max 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 Mobile Max M are associated (or correlated) with Inbar Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inbar Group Finance has no effect on the direction of Mobile Max i.e., Mobile Max and Inbar Group go up and down completely randomly.
Pair Corralation between Mobile Max and Inbar Group
Assuming the 90 days trading horizon Mobile Max M is expected to under-perform the Inbar Group. But the stock apears to be less risky and, when comparing its historical volatility, Mobile Max M is 2.09 times less risky than Inbar Group. The stock trades about -0.34 of its potential returns per unit of risk. The Inbar Group Finance is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest 26,200 in Inbar Group Finance on September 3, 2024 and sell it today you would earn a total of 6,220 from holding Inbar Group Finance or generate 23.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mobile Max M vs. Inbar Group Finance
Performance |
| Timeline |
| Mobile Max M |
| Inbar Group Finance |
Mobile Max and Inbar Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mobile Max and Inbar Group
The main advantage of trading using opposite Mobile Max and Inbar Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mobile Max position performs unexpectedly, Inbar Group 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 Inbar Group will offset losses from the drop in Inbar Group's long position.| Mobile Max vs. B Yair Building | Mobile Max vs. First International Bank | Mobile Max vs. Menif Financial Services | Mobile Max vs. Automatic Bank Services |
| Inbar Group vs. Suny Cellular Communication | Inbar Group vs. More Mutual Funds | Inbar Group vs. MEITAV INVESTMENTS HOUSE | Inbar Group vs. Tower Semiconductor |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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