Eltek Correlations

ELTK Stock

USD 8.85 0.06 0.68%

The current 90-days correlation between Eltek and iPower Inc is -0.15 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eltek moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eltek moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eltek Correlation With Market

Very good diversification

The correlation between Eltek and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eltek and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Eltek Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eltek. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in poverty.

For more information on how to buy Eltek Stock please use our How to buy in Eltek Stock guide.

Moving together with Eltek Stock

0.77	WBX	Wallbox NV	Pair Corr
0.64	HOLO	MicroCloud Hologram	Pair Corr
0.61	ZDC	Zedcor Energy	Pair Corr
0.64	SOTK	Sono Tek Corp	Pair Corr

Moving against Eltek Stock

0.65	JNJ	Johnson Johnson	Pair Corr
0.49	WNC	Wabash National	Pair Corr
0.37	DSWL	Deswell Industries Tech Boost	Pair Corr
0.56	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.5	AA	Alcoa Corp Downward Rally	Pair Corr
0.49	CSCO	Cisco Systems Earnings Call This Week	Pair Corr
0.47	MCD	McDonalds Earnings Call This Week	Pair Corr
0.39	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.31	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	IPW	YJ	REBN	UCAR	BYAH	AZI	CENN	YYGH	DSS	ATER
IPW		0.47	-0.25	0.66	0.79	0.36	0.54	0.6	-0.03	0.41	IPW
YJ	0.47		0.06	0.74	0.61	0.45	0.51	0.68	0.56	0.38	YJ
REBN	-0.25	0.06		-0.01	0.01	-0.01	0.35	0.26	0.33	0.24	REBN
UCAR	0.66	0.74	-0.01		0.9	0.67	0.58	0.79	0.42	0.42	UCAR
BYAH	0.79	0.61	0.01	0.9		0.71	0.7	0.81	0.24	0.54	BYAH
AZI	0.36	0.45	-0.01	0.67	0.71		0.49	0.54	0.35	0.45	AZI
CENN	0.54	0.51	0.35	0.58	0.7	0.49		0.74	0.37	0.68	CENN
YYGH	0.6	0.68	0.26	0.79	0.81	0.54	0.74		0.42	0.64	YYGH
DSS	-0.03	0.56	0.33	0.42	0.24	0.35	0.37	0.42		0.27	DSS
ATER	0.41	0.38	0.24	0.42	0.54	0.45	0.68	0.64	0.27		ATER
	IPW	YJ	REBN	UCAR	BYAH	AZI	CENN	YYGH	DSS	ATER

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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

BYAH	+ 0.9	UCAR
YYGH	+ 0.81	BYAH
BYAH	+ 0.79	IPW
YYGH	+ 0.79	UCAR
UCAR	+ 0.74	YJ
YYGH	+ 0.74	CENN

High negative correlations

REBN	- 0.25	IPW
DSS	- 0.03	IPW
AZI	- 0.01	REBN
UCAR	- 0.01	REBN

Risk-Adjusted Indicators

There is a big difference between Eltek Stock performing well and Eltek 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 Eltek'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
IPW	5.69	(1.92)	(4.99)	10.45	(13.20)	35.96
YJ	3.05	(0.21)	(0.19)	6.99	(7.45)	30.41
REBN	4.10	(0.22)	(0.05)	11.95	(9.04)	27.14
UCAR	2.54	(0.62)	(0.41)	4.64	(5.05)	19.82
BYAH	5.20	(1.85)	(0.62)	10.00	(11.36)	44.34
AZI	10.35	(0.39)	(0.22)	21.43	(17.65)	88.70
CENN	4.63	(0.64)	(0.22)	13.33	(6.67)	24.81
YYGH	2.97	(0.56)	(0.25)	7.69	(8.33)	19.09
DSS	4.15	(0.19)	(0.08)	12.77	(7.02)	24.35
ATER	3.62	(0.51)	(0.31)	7.14	(7.14)	28.48

Eltek Corporate Management

Eli Yaffe	Chief Officer	Profile
Shlomi Kisluk	Vice Assurance	Profile
Oriel Sallary	Vice Marketing	Profile
Itzik Zemach	Vice Operations	Profile
Ron Freund	Chief Officer	Profile
Ifat Atzitz	HR Manager	Profile
Sagi Balter	Vice Technology	Profile

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