AudioCodes Correlations

AUDC Stock

ILA 2,607 8.00 0.31%

The current 90-days correlation between AudioCodes and PCB Tec is 0.21 (i.e., Modest 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

Average diversification

The correlation between AudioCodes and DJI is 0.16 (i.e., Average diversification) 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

0.82

LPSN

LivePerson

Pair Corr

Moving against AudioCodes Stock

0.69	RPAC	Rapac Communication	Pair Corr
0.69	DLTI	Delta Israel Brands	Pair Corr
0.69	PRIM	Prime Energy PE	Pair Corr
0.67	CMER	C Mer Industries	Pair Corr
0.66	ECNR	Econergy Renewable Energy	Pair Corr
0.61	ASHO	Ashot Ashkelon Industries	Pair Corr
0.58	MGIC	Magic Software Enter	Pair Corr
0.56	WESR	Wesure Global Tech	Pair Corr
0.55	LSCO	Lesico	Pair Corr
0.54	MZTF	Mizrahi Tefahot	Pair Corr
0.5	DIMRI	YH Dimri Construction	Pair Corr
0.49	BEZQ	Bezeq Israeli Teleco	Pair Corr
0.44	DLMT	Accel Solutions Group	Pair Corr
0.41	ALLT	Allot Communications	Pair Corr
0.41	ELTR	Electra	Pair Corr
0.39	GILT	Gilat Satellite Networks	Pair Corr
0.38	ORA	Ormat Technologies	Pair Corr
0.35	ESLT	Elbit Systems	Pair Corr
0.34	GNGR	Ginegar	Pair Corr
0.74	YHNF	M Yochananof	Pair Corr
0.71	ARIN	Ari Real Estate	Pair Corr
0.7	SHAN	Shaniv	Pair Corr
0.67	AFHL	Afcon Holdings	Pair Corr
0.66	DNYA	Danya Cebus	Pair Corr
0.65	OVRS	Overseas Commerce	Pair Corr
0.65	ISTA	Issta Lines	Pair Corr
0.64	MAXO	Max Stock	Pair Corr
0.63	INBR	Inbar Group Finance	Pair Corr
0.62	MORE-S8	More Mutual Funds	Pair Corr

Related Correlations Analysis

	RPAC	HIPR	SHVA	PCBT	CMER	ARD	EMCO	ABRA	ALAR
RPAC		0.9	0.2	0.96	0.94	-0.54	0.39	0.77	-0.56	RPAC
HIPR	0.9		0.32	0.95	0.88	-0.41	0.53	0.86	-0.35	HIPR
SHVA	0.2	0.32		0.32	0.36	-0.09	0.26	0.44	0.51	SHVA
PCBT	0.96	0.95	0.32		0.94	-0.48	0.39	0.86	-0.43	PCBT
CMER	0.94	0.88	0.36	0.94		-0.43	0.25	0.82	-0.44	CMER
ARD	-0.54	-0.41	-0.09	-0.48	-0.43		-0.41	-0.5	0.35	ARD
EMCO	0.39	0.53	0.26	0.39	0.25	-0.41		0.35	0.11	EMCO
ABRA	0.77	0.86	0.44	0.86	0.82	-0.5	0.35		-0.29	ABRA
ALAR	-0.56	-0.35	0.51	-0.43	-0.44	0.35	0.11	-0.29		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	RPAC
PCBT	+ 0.95	HIPR
CMER	+ 0.94	RPAC
CMER	+ 0.94	PCBT
HIPR	+ 0.9	RPAC
CMER	+ 0.88	HIPR

High negative correlations

ALAR	- 0.56	RPAC
ARD	- 0.54	RPAC
ABRA	- 0.5	ARD
ARD	- 0.48	PCBT
ALAR	- 0.44	CMER
ARD	- 0.43	CMER

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	1.79	0.72	0.34	0.93	1.37	(2.11)	5.77	(2.88)	14.56
HIPR	1.98	0.75	0.46	1.66	1.01	(2.68)	6.38	(1.86)	18.46
SHVA	1.54	0.03	(0.02)	(0.25)	2.05	(1.55)	3.14	(3.85)	7.97
PCBT	2.13	0.73	0.38	1.32	1.33	(2.85)	5.40	(3.65)	12.96
CMER	2.02	0.70	0.36	1.53	1.28	(2.65)	5.79	(2.88)	20.40
ARD	0.93	(0.10)	0.00	0.44	0.00	0.00	1.78	(2.27)	7.37
EMCO	1.36	0.04	0.00	0.21	1.68	(1.36)	3.03	(2.60)	7.87
ABRA	1.27	0.49	0.34	3.95	0.78	(1.63)	3.10	(1.36)	7.51
ALAR	3.66	(0.86)	0.00	(3.13)	0.00	0.00	9.61	(7.44)	29.16

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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