Eltek Correlations

ELTK Stock

USD 9.26 0.44 4.99%

The current 90-days correlation between Eltek and Sono Tek Corp is 0.14 (i.e., Average 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

Weak diversification

The correlation between Eltek and DJI is 0.3 (i.e., Weak 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 persons.

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

Moving together with Eltek Stock

0.62	CDW	CDW Corp	Pair Corr
0.64	LINK	Interlink Electronics	Pair Corr
0.77	MSFT	Microsoft	Pair Corr
0.64	HD	Home Depot	Pair Corr
0.61	HPQ	HP Inc	Pair Corr

Moving against Eltek Stock

0.64	BMYMP	Bristol Myers Squibb	Pair Corr
0.61	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.61	WSFS	WSFS Financial	Pair Corr
0.47	ACN	Accenture plc	Pair Corr
0.77	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.74	MRK	Merck Company Sell-off Trend	Pair Corr
0.51	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.49	CSCO	Cisco Systems	Pair Corr
0.47	ATI	Allegheny Technologies	Pair Corr
0.45	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.45	DD	Dupont De Nemours	Pair Corr
0.42	VZ	Verizon Communications	Pair Corr
0.38	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.38	CAT	Caterpillar	Pair Corr
0.33	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	SOTK	SOGP	TGE	WBX	QH	HOLO	REFR	LINK	MIND	DSWL
SOTK		0.3	0.65	0.47	0.31	0.49	0.33	0.7	0.71	-0.34	SOTK
SOGP	0.3		0.58	0.64	0.7	0.68	0.21	0.61	0.21	-0.35	SOGP
TGE	0.65	0.58		0.61	0.65	0.59	0.37	0.72	0.45	-0.21	TGE
WBX	0.47	0.64	0.61		0.81	0.93	0.51	0.91	0.34	-0.27	WBX
QH	0.31	0.7	0.65	0.81		0.75	0.35	0.75	0.08	-0.17	QH
HOLO	0.49	0.68	0.59	0.93	0.75		0.64	0.9	0.4	-0.26	HOLO
REFR	0.33	0.21	0.37	0.51	0.35	0.64		0.56	0.32	0.06	REFR
LINK	0.7	0.61	0.72	0.91	0.75	0.9	0.56		0.47	-0.36	LINK
MIND	0.71	0.21	0.45	0.34	0.08	0.4	0.32	0.47		-0.14	MIND
DSWL	-0.34	-0.35	-0.21	-0.27	-0.17	-0.26	0.06	-0.36	-0.14		DSWL
	SOTK	SOGP	TGE	WBX	QH	HOLO	REFR	LINK	MIND	DSWL

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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

HOLO	+ 0.93	WBX
LINK	+ 0.91	WBX
LINK	+ 0.9	HOLO
QH	+ 0.81	WBX
HOLO	+ 0.75	QH
LINK	+ 0.75	QH

High negative correlations

DSWL	- 0.36	LINK
DSWL	- 0.35	SOGP
DSWL	- 0.34	SOTK
DSWL	- 0.27	WBX
DSWL	- 0.26	HOLO
DSWL	- 0.21	TGE

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SOTK	1.92	(0.02)	0.00	0.14	0.00	0.00	3.10	(4.20)	17.77
SOGP	5.49	0.16	0.05	0.17	5.30	(7.33)	11.06	(10.16)	57.87
TGE	8.19	1.31	0.11	1.24	10.60	(11.95)	15.83	(9.09)	162.44
WBX	3.08	(1.36)	0.00	(0.65)	0.00	0.00	6.60	(7.12)	17.97
QH	8.64	(1.38)	0.00	(0.37)	0.00	0.00	25.50	(14.32)	109.99
HOLO	3.77	(1.03)	0.00	(0.22)	0.00	0.00	5.06	(8.22)	15.30
REFR	3.79	(0.61)	0.00	(0.12)	0.00	0.00	10.83	(8.99)	36.36
LINK	4.47	(0.94)	0.00	(0.33)	0.00	0.00	11.08	(9.58)	30.91
MIND	4.91	0.11	0.03	0.15	6.74	(4.83)	9.33	(8.64)	37.32
DSWL	1.98	(0.01)	0.00	0.12	0.00	0.00	5.17	(5.37)	17.72

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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