Correlation Analysis Between AMIDEX35 Israel and JP Morgan

This module allows you to analyze existing cross correlation between AMIDEX35 Israel Mutual Fund and JP Morgan Chase Co. You can compare the effects of market volatilities on AMIDEX35 Israel and JP Morgan 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 AMIDEX35 Israel with a short position of JP Morgan. See also your portfolio center. Please also check ongoing floating volatility patterns of AMIDEX35 Israel and JP Morgan.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

AMIDEX35 Israel Mutual  
00

Risk-Adjusted Fund Performance

Over the last 30 days AMIDEX35 Israel Mutual Fund has generated negative risk-adjusted returns adding no value to fund investors. Inspite fairly strong basic indicators, AMIDEX35 Israel is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
JP Morgan Chase  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in JP Morgan Chase Co are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, JP Morgan may actually be approaching a critical reversion point that can send shares even higher in October 2019.

AMIDEX35 Israel and JP Morgan Volatility Contrast

 Predicted Return Density 
      Returns 

AMIDEX35 Israel Mutual Fund  vs.  JP Morgan Chase Co

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, AMIDEX35 Israel Mutual Fund is expected to under-perform the JP Morgan. But the fund apears to be less risky and, when comparing its historical volatility, AMIDEX35 Israel Mutual Fund is 1.79 times less risky than JP Morgan. The fund trades about -0.01 of its potential returns per unit of risk. The JP Morgan Chase Co is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  10,914  in JP Morgan Chase Co on August 18, 2019 and sell it today you would earn a total of  1,002  from holding JP Morgan Chase Co or generate 9.18% return on investment over 30 days.

Pair Corralation between AMIDEX35 Israel and JP Morgan

-0.35
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for AMIDEX35 Israel and JP Morgan

AMIDEX35 Israel Mutual Fund diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding AMIDEX35 Israel Mutual Fund and JP Morgan Chase Co in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on JP Morgan Chase and AMIDEX35 Israel 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 AMIDEX35 Israel Mutual Fund are associated (or correlated) with JP Morgan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JP Morgan Chase has no effect on the direction of AMIDEX35 Israel i.e. AMIDEX35 Israel and JP Morgan go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Reporting module to create custom reports across your portfolios and generate quick suggestion pitch.


 
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