Correlation Between G Willi and Altshuler Shaham
Can any of the company-specific risk be diversified away by investing in both G Willi and Altshuler Shaham 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 G Willi and Altshuler Shaham into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between G Willi Food International and Altshuler Shaham Financial, you can compare the effects of market volatilities on G Willi and Altshuler Shaham 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 G Willi with a short position of Altshuler Shaham. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Willi and Altshuler Shaham.
Diversification Opportunities for G Willi and Altshuler Shaham
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between WILC and Altshuler is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding G Willi Food International and Altshuler Shaham Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Altshuler Shaham Fin and G Willi 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 G Willi Food International are associated (or correlated) with Altshuler Shaham. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Altshuler Shaham Fin has no effect on the direction of G Willi i.e., G Willi and Altshuler Shaham go up and down completely randomly.
Pair Corralation between G Willi and Altshuler Shaham
Assuming the 90 days trading horizon G Willi Food International is expected to generate 0.77 times more return on investment than Altshuler Shaham. However, G Willi Food International is 1.3 times less risky than Altshuler Shaham. It trades about -0.14 of its potential returns per unit of risk. Altshuler Shaham Financial is currently generating about -0.3 per unit of risk. If you would invest 607,300 in G Willi Food International on November 3, 2024 and sell it today you would lose (17,700) from holding G Willi Food International or give up 2.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
G Willi Food International vs. Altshuler Shaham Financial
Performance |
| Timeline |
| G Willi Food |
| Altshuler Shaham Fin |
G Willi and Altshuler Shaham Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with G Willi and Altshuler Shaham
The main advantage of trading using opposite G Willi and Altshuler Shaham positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Willi position performs unexpectedly, Altshuler Shaham 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 Altshuler Shaham will offset losses from the drop in Altshuler Shaham's long position.| G Willi vs. Adgar Investments and | G Willi vs. Harel Insurance Investments | G Willi vs. Ram On Investments and | G Willi vs. Meitav Dash Investments |
| Altshuler Shaham vs. Payment Financial Technologies | Altshuler Shaham vs. Harel Insurance Investments | Altshuler Shaham vs. Tower Semiconductor | Altshuler Shaham vs. Multi Retail Group |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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