Creative Media Correlations

CMCT Stock

88.70 0.10 0.11%

The current 90-days correlation between Creative Media Community and Nice is 0.06 (i.e., Significant diversification). The correlation of Creative Media 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.

Creative Media Correlation With Market

Good diversification

The correlation between Creative Media Community and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Creative Media Community and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Creative Stock

0.89	MZTF	Mizrahi Tefahot	Pair Corr
0.88	LUMI	Bank Leumi Le Earnings Call Today	Pair Corr
0.88	ESLT	Elbit Systems	Pair Corr
0.87	AZRG	Azrieli Group	Pair Corr
0.85	DSCT	Israel Discount Bank	Pair Corr
0.83	ORA	Ormat Technologies	Pair Corr
0.8	GOLD	Gold Bond	Pair Corr
0.8	RATI	Ratio Oil Explorations Earnings Call Today	Pair Corr
0.34	ICL	ICL Israel Chemicals	Pair Corr
0.31	NICE	Nice	Pair Corr

Related Correlations Analysis

	NICE	GOLD	LUMI	ICL	MZTF	AZRG	ESLT	DSCT	ORA	RATI
NICE		0.28	0.29	0.42	0.35	0.32	0.27	0.31	0.5	0.31	NICE
GOLD	0.28		0.92	0.42	0.92	0.91	0.93	0.9	0.66	0.89	GOLD
LUMI	0.29	0.92		0.52	0.98	0.94	0.96	0.98	0.71	0.96	LUMI
ICL	0.42	0.42	0.52		0.52	0.48	0.41	0.58	0.24	0.58	ICL
MZTF	0.35	0.92	0.98	0.52		0.97	0.95	0.98	0.78	0.96	MZTF
AZRG	0.32	0.91	0.94	0.48	0.97		0.94	0.96	0.77	0.94	AZRG
ESLT	0.27	0.93	0.96	0.41	0.95	0.94		0.94	0.74	0.92	ESLT
DSCT	0.31	0.9	0.98	0.58	0.98	0.96	0.94		0.73	0.98	DSCT
ORA	0.5	0.66	0.71	0.24	0.78	0.77	0.74	0.73		0.67	ORA
RATI	0.31	0.89	0.96	0.58	0.96	0.94	0.92	0.98	0.67		RATI
	NICE	GOLD	LUMI	ICL	MZTF	AZRG	ESLT	DSCT	ORA	RATI

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Risk-Adjusted Indicators

There is a big difference between Creative Stock performing well and Creative Media 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 Creative Media'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
NICE	1.99	0.00	(0.02)	0.11	3.58	(1.88)	4.35	(3.98)	21.85
GOLD	1.54	0.36	0.08	4.50	2.11	(1.65)	3.40	(3.64)	18.99
LUMI	1.22	0.37	0.16	2.70	1.23	(1.31)	2.58	(2.60)	6.40
ICL	1.89	0.04	(0.03)	0.73	2.16	(2.13)	5.55	(3.18)	11.77
MZTF	1.24	0.24	0.08	16.52	1.27	(1.44)	2.71	(2.12)	5.51
AZRG	1.66	0.20	0.07	0.61	1.71	(1.92)	3.77	(3.05)	9.70
ESLT	1.26	0.47	0.32	7.02	0.62	(1.54)	4.09	(1.78)	8.26
DSCT	1.24	0.30	0.12	3.97	1.17	(1.43)	2.60	(2.64)	7.16
ORA	1.05	0.09	0.00	0.49	1.43	(1.09)	2.04	(2.00)	6.36
RATI	1.59	0.30	0.08	(1.82)	1.73	(1.77)	3.75	(2.48)	8.86

Creative Media 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 Creative Media stock to make a market-neutral strategy. Peer analysis of Creative Media could also be used in its relative valuation, which is a method of valuing Creative Media by comparing valuation metrics with similar companies.

Nice The Gold Bond Bank Leumi Le Israel ICL Israel Chemicals Mizrahi Tefahot Azrieli Group Elbit Systems Israel Discount Bank Ormat Technologies Ratio Oil Explorations American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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