CompuLab Correlations

CLAB Stock

1,151 0.00 0.00%

The current 90-days correlation between CompuLab and Idomoo is -0.05 (i.e., Good diversification). The correlation of CompuLab 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.

CompuLab Correlation With Market

Poor diversification

The correlation between CompuLab and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CompuLab and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CompuLab Stock

0.79	ORA	Ormat Technologies Earnings Call This Week	Pair Corr
0.64	MAXO	Max Stock	Pair Corr
0.79	NERZ	New Horizon Group	Pair Corr
0.76	ENLT	Enlight Renewable Energy	Pair Corr
0.64	CLIS	Clal Insurance Enter	Pair Corr
0.69	AMDA	Almeda Ventures	Pair Corr
0.76	AILN	Axilion Smart Mobility	Pair Corr
0.78	TRPZ	Turpaz Industries	Pair Corr

Moving against CompuLab Stock

0.64

NICE

Nice Earnings Call Tomorrow

Pair Corr

Related Correlations Analysis

	TECT	PHTM	PMVM	SPDV	ROBO	MSVT	TNDO	BLRN	UTRN	IDMO
TECT		0.36	0.61	-0.13	-0.29	-0.46	-0.27	0.21	0.15	0.3	TECT
PHTM	0.36		0.61	0.32	0.31	-0.49	-0.26	-0.67	-0.04	-0.35	PHTM
PMVM	0.61	0.61		-0.12	-0.01	-0.86	-0.74	-0.17	-0.15	-0.27	PMVM
SPDV	-0.13	0.32	-0.12		0.58	0.21	0.16	-0.49	0.14	-0.28	SPDV
ROBO	-0.29	0.31	-0.01	0.58		0.08	0.11	-0.5	0.13	-0.35	ROBO
MSVT	-0.46	-0.49	-0.86	0.21	0.08		0.53	0.1	0.07	0.18	MSVT
TNDO	-0.27	-0.26	-0.74	0.16	0.11	0.53		0.08	0.45	0.43	TNDO
BLRN	0.21	-0.67	-0.17	-0.49	-0.5	0.1	0.08		0.35	0.61	BLRN
UTRN	0.15	-0.04	-0.15	0.14	0.13	0.07	0.45	0.35		0.52	UTRN
IDMO	0.3	-0.35	-0.27	-0.28	-0.35	0.18	0.43	0.61	0.52		IDMO
	TECT	PHTM	PMVM	SPDV	ROBO	MSVT	TNDO	BLRN	UTRN	IDMO

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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

PMVM	+ 0.61	TECT
PMVM	+ 0.61	PHTM
IDMO	+ 0.61	BLRN
ROBO	+ 0.58	SPDV
TNDO	+ 0.53	MSVT
IDMO	+ 0.52	UTRN

High negative correlations

MSVT	- 0.86	PMVM
TNDO	- 0.74	PMVM
BLRN	- 0.67	PHTM
BLRN	- 0.5	ROBO
BLRN	- 0.49	SPDV
MSVT	- 0.49	PHTM

Risk-Adjusted Indicators

There is a big difference between CompuLab Stock performing well and CompuLab 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 CompuLab'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
TECT	2.82	(0.09)	0.00	0.27	0.00	0.00	6.12	(5.51)	14.21
PHTM	2.00	(0.33)	0.00	(0.39)	0.00	0.00	5.13	(6.34)	19.43
PMVM	4.53	(1.22)	0.00	(0.51)	0.00	0.00	7.82	(7.61)	74.93
SPDV	0.84	(0.11)	0.00	0.33	0.00	0.00	1.03	(2.38)	18.33
ROBO	3.60	(0.27)	0.00	(3.06)	0.00	0.00	11.82	(8.31)	36.86
MSVT	3.96	0.58	0.11	(0.36)	3.45	(5.72)	9.16	(6.30)	73.67
TNDO	2.97	0.73	0.17	(0.44)	2.79	(3.69)	5.42	(5.10)	59.40
BLRN	4.47	1.07	0.27	3.22	3.36	(5.94)	10.65	(6.52)	53.20
UTRN	1.43	0.05	0.01	0.25	1.70	(1.75)	3.48	(3.30)	15.27
IDMO	2.70	0.18	0.05	0.41	2.70	(3.27)	7.77	(4.90)	16.74

CompuLab Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with CompuLab stock to make a market-neutral strategy. Peer analysis of CompuLab could also be used in its relative valuation, which is a method of valuing CompuLab by comparing valuation metrics with similar companies.

Tectona Photomyne Pomvom Speedvalue Robogroup Massivit 3D Printing Tondo Smart Bladeranger Utron Idomoo American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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