Correlation Between Meitav Dash and GFC Green
Can any of the company-specific risk be diversified away by investing in both Meitav Dash and GFC Green 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 Meitav Dash and GFC Green into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Meitav Dash Investments and GFC Green Fields, you can compare the effects of market volatilities on Meitav Dash and GFC Green 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 Meitav Dash with a short position of GFC Green. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meitav Dash and GFC Green.
Diversification Opportunities for Meitav Dash and GFC Green
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Meitav and GFC is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Meitav Dash Investments and GFC Green Fields in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GFC Green Fields and Meitav Dash 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 Meitav Dash Investments are associated (or correlated) with GFC Green. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GFC Green Fields has no effect on the direction of Meitav Dash i.e., Meitav Dash and GFC Green go up and down completely randomly.
Pair Corralation between Meitav Dash and GFC Green
If you would invest 204,400 in Meitav Dash Investments on September 12, 2024 and sell it today you would earn a total of 91,300 from holding Meitav Dash Investments or generate 44.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Meitav Dash Investments vs. GFC Green Fields
Performance |
| Timeline |
| Meitav Dash Investments |
| GFC Green Fields |
Meitav Dash and GFC Green Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meitav Dash and GFC Green
The main advantage of trading using opposite Meitav Dash and GFC Green positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meitav Dash position performs unexpectedly, GFC Green 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 GFC Green will offset losses from the drop in GFC Green's long position.| Meitav Dash vs. Bank Hapoalim | Meitav Dash vs. Israel Discount Bank | Meitav Dash vs. Mizrahi Tefahot | Meitav Dash vs. Bezeq Israeli Telecommunication |
| GFC Green vs. Meitav Dash Investments | GFC Green vs. Storage Drop Storage | GFC Green vs. YD More Investments | GFC Green vs. Skyline Investments |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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