Cohen Dev Correlations

CDEV Stock

ILS 20,200 100.00 0.50%

The current 90-days correlation between Cohen Dev and Ashot Ashkelon Industries is 0.26 (i.e., Modest diversification). The correlation of Cohen Dev 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.

Cohen Dev Correlation With Market

Pay attention - limited upside

The correlation between Cohen Dev and DJI is -0.72 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cohen Dev and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Cohen Dev could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cohen Dev 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 Cohen Dev - 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 Cohen Dev to buy it.

Moving against Cohen Stock

0.8	IBITEC-F	IBI Mutual Funds	Pair Corr
0.76	QLTU	Qualitau	Pair Corr
0.74	ILDR	Israel Land Development	Pair Corr
0.72	MISH	Mivtach Shamir	Pair Corr
0.67	KEN	Kenon Holdings	Pair Corr
0.66	ORIN	Orian ShM	Pair Corr
0.65	POLI	Bank Hapoalim	Pair Corr
0.64	ARAN	Aran Research	Pair Corr
0.6	ISHI	Israel Shipyards	Pair Corr
0.58	TRPZ	Turpaz Industries	Pair Corr
0.56	ISRS	Isras Investment	Pair Corr
0.56	AMDA	Almeda Ventures	Pair Corr
0.55	BSEN	Bet Shemesh Engines	Pair Corr
0.53	PTBL	Propert Buil	Pair Corr
0.52	TATT	TAT Technologies	Pair Corr
0.49	MZTF	Mizrahi Tefahot	Pair Corr
0.49	BEZQ	Bezeq Israeli Teleco	Pair Corr
0.48	HGGE	Hagag Europe Development	Pair Corr
0.44	ELCRE	Electra Real Estate	Pair Corr
0.4	HRON	Hiron Trade Investments	Pair Corr
0.39	CPIA	Cipia Vision	Pair Corr
0.78	AFHL	Afcon Holdings	Pair Corr
0.71	BLRN	Bladeranger	Pair Corr
0.68	IDIN	IDI Insurance	Pair Corr
0.68	DRAL	Dor Alon	Pair Corr
0.67	RMLI	Rami Levi	Pair Corr
0.62	PZOL	Paz Oil	Pair Corr
0.59	ELLO	Ellomay Capital	Pair Corr
0.58	MEDN	Mehadrin	Pair Corr
0.58	LUMI	Bank Leumi Le	Pair Corr
0.56	NTO	Neto ME Holdings	Pair Corr

Related Correlations Analysis

	ASHO	LUZN	FBRT	PLSN	SHOM	ORBI	TATT	ARAN	PLRM	AMAN
ASHO		0.93	0.96	-0.73	-0.01	0.25	0.86	0.85	-0.57	0.55	ASHO
LUZN	0.93		0.93	-0.75	0.1	0.27	0.84	0.92	-0.77	0.75	LUZN
FBRT	0.96	0.93		-0.66	0.15	0.33	0.88	0.9	-0.65	0.66	FBRT
PLSN	-0.73	-0.75	-0.66		0.3	0.09	-0.53	-0.61	0.51	-0.44	PLSN
SHOM	-0.01	0.1	0.15	0.3		0.14	0.37	0.3	-0.16	0.41	SHOM
ORBI	0.25	0.27	0.33	0.09	0.14		0.14	0.32	-0.39	0.4	ORBI
TATT	0.86	0.84	0.88	-0.53	0.37	0.14		0.88	-0.46	0.59	TATT
ARAN	0.85	0.92	0.9	-0.61	0.3	0.32	0.88		-0.69	0.74	ARAN
PLRM	-0.57	-0.77	-0.65	0.51	-0.16	-0.39	-0.46	-0.69		-0.89	PLRM
AMAN	0.55	0.75	0.66	-0.44	0.41	0.4	0.59	0.74	-0.89		AMAN
	ASHO	LUZN	FBRT	PLSN	SHOM	ORBI	TATT	ARAN	PLRM	AMAN

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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

FBRT	+ 0.96	ASHO
LUZN	+ 0.93	ASHO
FBRT	+ 0.93	LUZN
ARAN	+ 0.92	LUZN
ARAN	+ 0.9	FBRT
TATT	+ 0.88	FBRT

High negative correlations

AMAN	- 0.89	PLRM
PLRM	- 0.77	LUZN
PLSN	- 0.75	LUZN
PLSN	- 0.73	ASHO
PLRM	- 0.69	ARAN
PLSN	- 0.66	FBRT

Risk-Adjusted Indicators

There is a big difference between Cohen Stock performing well and Cohen Dev 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 Cohen Dev's 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
ASHO	2.09	0.89	0.27	(2.09)	2.13	(2.42)	5.24	(4.68)	18.29
LUZN	1.12	0.44	0.32	3.28	0.74	(1.33)	3.19	(1.86)	7.60
FBRT	1.46	0.45	0.19	(1.45)	1.43	(1.78)	3.98	(2.60)	11.53
PLSN	1.08	(0.10)	0.00	(1.54)	0.00	0.00	2.21	(2.78)	6.66
SHOM	1.11	(0.07)	0.00	(0.33)	0.00	0.00	2.18	(1.96)	8.82
ORBI	0.85	0.09	0.03	(0.62)	0.78	(1.13)	1.43	(1.45)	15.14
TATT	2.30	0.13	0.03	0.70	2.55	(2.60)	4.99	(4.30)	14.62
ARAN	2.91	0.66	0.16	(0.87)	3.12	(3.20)	7.23	(4.60)	19.82
PLRM	1.54	(0.48)	0.00	(1.49)	0.00	0.00	2.76	(3.03)	15.95
AMAN	1.60	0.40	0.19	(2.14)	1.20	(2.20)	5.00	(2.61)	14.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in Cohen Dev 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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