Correlation Between Azrieli and CK Asset
Can any of the company-specific risk be diversified away by investing in both Azrieli and CK Asset 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 Azrieli and CK Asset into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Azrieli Group and CK Asset Holdings, you can compare the effects of market volatilities on Azrieli and CK Asset 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 Azrieli with a short position of CK Asset. Check out your portfolio center. Please also check ongoing floating volatility patterns of Azrieli and CK Asset.
Diversification Opportunities for Azrieli and CK Asset
Good diversification
The 3 months correlation between Azrieli and CHKGF is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Azrieli Group and CK Asset Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CK Asset Holdings and Azrieli 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 Azrieli Group are associated (or correlated) with CK Asset. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CK Asset Holdings has no effect on the direction of Azrieli i.e., Azrieli and CK Asset go up and down completely randomly.
Pair Corralation between Azrieli and CK Asset
Assuming the 90 days horizon Azrieli Group is expected to generate 0.39 times more return on investment than CK Asset. However, Azrieli Group is 2.59 times less risky than CK Asset. It trades about 0.12 of its potential returns per unit of risk. CK Asset Holdings is currently generating about 0.02 per unit of risk. If you would invest 9,487 in Azrieli Group on September 4, 2025 and sell it today you would earn a total of 863.00 from holding Azrieli Group or generate 9.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Azrieli Group vs. CK Asset Holdings
Performance |
| Timeline |
| Azrieli Group |
| CK Asset Holdings |
Azrieli and CK Asset Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Azrieli and CK Asset
The main advantage of trading using opposite Azrieli and CK Asset positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Azrieli position performs unexpectedly, CK Asset 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 CK Asset will offset losses from the drop in CK Asset's long position.| Azrieli vs. Wireless Xcessories Group | Azrieli vs. Porsche Automobile Holding | Azrieli vs. InRetail Per Corp | Azrieli vs. Costco Wholesale Corp |
| CK Asset vs. Golden Energy Offshore | CK Asset vs. Retail Food Group | CK Asset vs. InPlay Oil Corp | CK Asset vs. Fast Retailing Co |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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