Correlation Between Meitav Dash and Lapidoth
Can any of the company-specific risk be diversified away by investing in both Meitav Dash and Lapidoth 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 Lapidoth 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 Lapidoth, you can compare the effects of market volatilities on Meitav Dash and Lapidoth 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 Lapidoth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meitav Dash and Lapidoth.
Diversification Opportunities for Meitav Dash and Lapidoth
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Meitav and Lapidoth is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding Meitav Dash Investments and Lapidoth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lapidoth 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 Lapidoth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lapidoth has no effect on the direction of Meitav Dash i.e., Meitav Dash and Lapidoth go up and down completely randomly.
Pair Corralation between Meitav Dash and Lapidoth
Assuming the 90 days trading horizon Meitav Dash is expected to generate 1.09 times less return on investment than Lapidoth. In addition to that, Meitav Dash is 1.35 times more volatile than Lapidoth. It trades about 0.14 of its total potential returns per unit of risk. Lapidoth is currently generating about 0.2 per unit of volatility. If you would invest 799,618 in Lapidoth on October 7, 2025 and sell it today you would earn a total of 166,882 from holding Lapidoth or generate 20.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Meitav Dash Investments vs. Lapidoth
Performance |
| Timeline |
| Meitav Dash Investments |
| Lapidoth |
Meitav Dash and Lapidoth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meitav Dash and Lapidoth
The main advantage of trading using opposite Meitav Dash and Lapidoth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meitav Dash position performs unexpectedly, Lapidoth 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 Lapidoth will offset losses from the drop in Lapidoth's long position.| Meitav Dash vs. Gibui Holdings | Meitav Dash vs. Gamla Harel Residential | Meitav Dash vs. Technoplus Ventures | Meitav Dash vs. Hive 2040 RD |
| Lapidoth vs. Ratio Oil Explorations | Lapidoth vs. Equital | Lapidoth vs. Isramco Negev 2 | Lapidoth vs. Tamar Petroleum |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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