Correlation Between More Mutual and Global Knafaim
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By analyzing existing cross correlation between More Mutual Funds and Global Knafaim Leasing, you can compare the effects of market volatilities on More Mutual and Global Knafaim 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 More Mutual with a short position of Global Knafaim. Check out your portfolio center. Please also check ongoing floating volatility patterns of More Mutual and Global Knafaim.
Diversification Opportunities for More Mutual and Global Knafaim
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between More and Global is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding More Mutual Funds and Global Knafaim Leasing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Knafaim Leasing and More 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 More Mutual Funds are associated (or correlated) with Global Knafaim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Knafaim Leasing has no effect on the direction of More Mutual i.e., More Mutual and Global Knafaim go up and down completely randomly.
Pair Corralation between More Mutual and Global Knafaim
Assuming the 90 days trading horizon More Mutual Funds is expected to generate 0.66 times more return on investment than Global Knafaim. However, More Mutual Funds is 1.51 times less risky than Global Knafaim. It trades about 0.14 of its potential returns per unit of risk. Global Knafaim Leasing is currently generating about -0.22 per unit of risk. If you would invest 704,000 in More Mutual Funds on December 1, 2024 and sell it today you would earn a total of 22,500 from holding More Mutual Funds or generate 3.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
More Mutual Funds vs. Global Knafaim Leasing
Performance |
| Timeline |
| More Mutual Funds |
| Global Knafaim Leasing |
More Mutual and Global Knafaim Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with More Mutual and Global Knafaim
The main advantage of trading using opposite More Mutual and Global Knafaim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if More Mutual position performs unexpectedly, Global Knafaim 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 Global Knafaim will offset losses from the drop in Global Knafaim's long position.| More Mutual vs. IDI Insurance | More Mutual vs. Clal Insurance Enterprises | More Mutual vs. Petrochemical | More Mutual vs. Scope Metals Group |
| Global Knafaim vs. Knafaim | Global Knafaim vs. El Al Israel | Global Knafaim vs. Orbit Technologies | Global Knafaim vs. Ashot Ashkelon Industries |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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