AudioCodes Correlations

AUDC Stock

ILA 2,400 50.00 2.13%

The current 90-days correlation between AudioCodes and PCB Tec is 0.15 (i.e., Average diversification). The correlation of AudioCodes is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

AudioCodes Correlation With Market

Pay attention - limited upside

The correlation between AudioCodes and DJI is -0.74 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AudioCodes and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to AudioCodes could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AudioCodes when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back AudioCodes - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling AudioCodes to buy it.

Moving together with AudioCodes Stock

0.78	ELRN	Elron Electronic Ind	Pair Corr
0.74	EFNC	Erech Finance Cahalacha	Pair Corr

Moving against AudioCodes Stock

0.84	TIGBUR	Tigbur Temporary	Pair Corr
0.82	PRIM	Prime Energy PE	Pair Corr
0.81	EXPO	Export Inv	Pair Corr
0.8	CMER	C Mer Industries	Pair Corr
0.8	KEN	Kenon Holdings	Pair Corr
0.78	IBI	IBI Inv House	Pair Corr
0.75	RPAC	Rapac Communication	Pair Corr
0.71	MCRNL	Micronet	Pair Corr
0.71	MGDL	Migdal Insurance	Pair Corr
0.7	GILT	Gilat Satellite Networks	Pair Corr
0.69	SOFW	Sofwave Medical	Pair Corr
0.66	ELAL	El Al Israel	Pair Corr
0.65	MTDS	Meitav Dash Investments	Pair Corr
0.62	BIOV	Bio View	Pair Corr
0.61	ELCRE	Electra Real Estate	Pair Corr
0.61	AYAL	Ayalon Holdings	Pair Corr
0.57	MMHD	Menora Miv Hld	Pair Corr
0.5	RTPT	Ratio Petroleum Energy	Pair Corr
0.49	BSEN	Bet Shemesh Engines	Pair Corr
0.45	JCFN	Jacob Finance And	Pair Corr
0.34	OVRS	Overseas Commerce	Pair Corr
0.88	ENLT	Enlight Renewable Energy Earnings Call This Week	Pair Corr
0.87	OPCE	OPC Energy	Pair Corr
0.86	ECNR	Econergy Renewable Energy	Pair Corr
0.83	GNRS	Generation Capital	Pair Corr
0.79	GFC	GFC Green Fields	Pair Corr
0.76	PMNT	Payment Financial	Pair Corr
0.74	APLY	Aerodrome Group	Pair Corr
0.74	FEAT	Feat Fund Investments	Pair Corr
0.73	PCBT	PCB Tec	Pair Corr
0.7	MNIF	Menif Financial Services	Pair Corr
0.68	ORMP	Oramed Pharmaceuticals	Pair Corr

Related Correlations Analysis

	RPAC	HIPR	SHVA	PCBT	CMER	ARD	EMCO	ABRA	ALAR
RPAC		0.92	0.61	0.94	0.94	-0.49	0.07	0.82	-0.65	RPAC
HIPR	0.92		0.72	0.96	0.94	-0.39	0.12	0.9	-0.52	HIPR
SHVA	0.61	0.72		0.71	0.75	-0.33	-0.07	0.8	-0.12	SHVA
PCBT	0.94	0.96	0.71		0.96	-0.45	0.06	0.92	-0.57	PCBT
CMER	0.94	0.94	0.75	0.96		-0.41	-0.08	0.91	-0.59	CMER
ARD	-0.49	-0.39	-0.33	-0.45	-0.41		-0.27	-0.51	0.31	ARD
EMCO	0.07	0.12	-0.07	0.06	-0.08	-0.27		0.01	0.28	EMCO
ABRA	0.82	0.9	0.8	0.92	0.91	-0.51	0.01		-0.48	ABRA
ALAR	-0.65	-0.52	-0.12	-0.57	-0.59	0.31	0.28	-0.48		ALAR
	RPAC	HIPR	SHVA	PCBT	CMER	ARD	EMCO	ABRA	ALAR

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PCBT	+ 0.96	HIPR
CMER	+ 0.96	PCBT
PCBT	+ 0.94	RPAC
CMER	+ 0.94	RPAC
CMER	+ 0.94	HIPR
HIPR	+ 0.92	RPAC

High negative correlations

ALAR	- 0.65	RPAC
ALAR	- 0.59	CMER
ALAR	- 0.57	PCBT
ALAR	- 0.52	HIPR
ABRA	- 0.51	ARD
ARD	- 0.49	RPAC

Risk-Adjusted Indicators

There is a big difference between AudioCodes Stock performing well and AudioCodes Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze AudioCodes' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RPAC	1.74	0.66	0.30	1.16	1.39	(2.08)	5.01	(2.86)	14.56
HIPR	1.59	0.46	0.30	0.90	1.01	(2.07)	3.44	(1.66)	18.70
SHVA	1.76	0.12	0.02	0.94	2.13	(1.89)	3.34	(4.16)	11.26
PCBT	2.14	0.65	0.29	1.69	1.61	(2.76)	5.09	(3.53)	18.43
CMER	1.88	0.65	0.33	2.28	1.25	(2.39)	4.22	(2.72)	20.40
ARD	1.03	0.03	0.00	0.04	0.00	0.00	2.20	(2.38)	7.74
EMCO	1.32	(0.07)	0.00	(0.20)	0.00	0.00	2.41	(2.60)	9.86
ABRA	1.18	0.25	0.11	1.64	1.21	(1.38)	2.37	(1.49)	13.31
ALAR	3.64	(1.10)	0.00	(1.33)	0.00	0.00	8.42	(8.08)	28.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in AudioCodes without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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