Correlation Between Maslavi and Levinstein Prop
Can any of the company-specific risk be diversified away by investing in both Maslavi and Levinstein Prop 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 Maslavi and Levinstein Prop into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Maslavi and Levinstein Prop, you can compare the effects of market volatilities on Maslavi and Levinstein Prop 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 Maslavi with a short position of Levinstein Prop. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maslavi and Levinstein Prop.
Diversification Opportunities for Maslavi and Levinstein Prop
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Maslavi and Levinstein is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Maslavi and Levinstein Prop in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Levinstein Prop and Maslavi 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 Maslavi are associated (or correlated) with Levinstein Prop. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Levinstein Prop has no effect on the direction of Maslavi i.e., Maslavi and Levinstein Prop go up and down completely randomly.
Pair Corralation between Maslavi and Levinstein Prop
Assuming the 90 days trading horizon Maslavi is expected to under-perform the Levinstein Prop. But the etf apears to be less risky and, when comparing its historical volatility, Maslavi is 1.35 times less risky than Levinstein Prop. The etf trades about -0.01 of its potential returns per unit of risk. The Levinstein Prop is currently generating about 0.62 of returns per unit of risk over similar time horizon. If you would invest 566,400 in Levinstein Prop on August 27, 2024 and sell it today you would earn a total of 164,900 from holding Levinstein Prop or generate 29.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Maslavi vs. Levinstein Prop
Performance |
| Timeline |
| Maslavi |
| Levinstein Prop |
Maslavi and Levinstein Prop Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maslavi and Levinstein Prop
The main advantage of trading using opposite Maslavi and Levinstein Prop positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maslavi position performs unexpectedly, Levinstein Prop 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 Levinstein Prop will offset losses from the drop in Levinstein Prop's long position.| Maslavi vs. Levinstein Prop | Maslavi vs. Sarfati | Maslavi vs. Kardan Real Estate | Maslavi vs. Netanel Group |
| Levinstein Prop vs. Israel Canada | Levinstein Prop vs. Delek Group | Levinstein Prop vs. Shikun Binui | Levinstein Prop vs. Israel Discount Bank |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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