Evogene Correlations

EVGN Stock

ILA 606.00 32.00 5.02%

The current 90-days correlation between Evogene and Netz Hotels is -0.24 (i.e., Very good diversification). The correlation of Evogene 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.

Evogene Correlation With Market

Good diversification

The correlation between Evogene and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evogene and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Evogene Stock

0.88

AVRT

Avrot Industries

Pair Corr

Moving against Evogene Stock

0.79	GVYM	GavYam Lands Corp	Pair Corr
0.73	AVIV	Mordechai Aviv Taasiot	Pair Corr
0.63	HOD	Hod Assaf Industries	Pair Corr
0.57	JBNK	Jerusalem	Pair Corr
0.47	ALRPR	Alrov Properties Lodgings	Pair Corr

Related Correlations Analysis

	NZHT	MGDL	HARL	MMHD	CLIS	PHOE	XTLB	ISOP-L	BMDX	SVRT
NZHT		0.32	0.45	0.28	0.46	0.19	-0.2	-0.14	0.1	-0.23	NZHT
MGDL	0.32		0.95	0.93	0.97	0.93	-0.93	0.6	0.88	0.17	MGDL
HARL	0.45	0.95		0.92	0.97	0.91	-0.82	0.52	0.78	0.11	HARL
MMHD	0.28	0.93	0.92		0.93	0.97	-0.83	0.67	0.8	0.14	MMHD
CLIS	0.46	0.97	0.97	0.93		0.89	-0.86	0.47	0.79	0.09	CLIS
PHOE	0.19	0.93	0.91	0.97	0.89		-0.85	0.74	0.85	0.24	PHOE
XTLB	-0.2	-0.93	-0.82	-0.83	-0.86	-0.85		-0.61	-0.85	-0.25	XTLB
ISOP-L	-0.14	0.6	0.52	0.67	0.47	0.74	-0.61		0.68	0.38	ISOP-L
BMDX	0.1	0.88	0.78	0.8	0.79	0.85	-0.85	0.68		0.39	BMDX
SVRT	-0.23	0.17	0.11	0.14	0.09	0.24	-0.25	0.38	0.39		SVRT
	NZHT	MGDL	HARL	MMHD	CLIS	PHOE	XTLB	ISOP-L	BMDX	SVRT

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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

CLIS	+ 0.97	MGDL
CLIS	+ 0.97	HARL
PHOE	+ 0.97	MMHD
HARL	+ 0.95	MGDL
MMHD	+ 0.93	MGDL
PHOE	+ 0.93	MGDL

High negative correlations

XTLB	- 0.93	MGDL
XTLB	- 0.86	CLIS
BMDX	- 0.85	XTLB
XTLB	- 0.85	PHOE
XTLB	- 0.83	MMHD
XTLB	- 0.82	HARL

Risk-Adjusted Indicators

There is a big difference between Evogene Stock performing well and Evogene 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 Evogene'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
NZHT	2.83	0.08	0.00	0.27	2.98	(3.73)	6.55	(5.50)	22.43
MGDL	1.39	0.47	0.22	(3.99)	1.10	(1.67)	3.81	(2.07)	7.52
HARL	1.60	0.34	0.09	13.86	2.06	(1.66)	3.33	(2.74)	13.90
MMHD	1.63	0.40	0.16	3.64	1.48	(1.90)	3.02	(2.67)	8.51
CLIS	1.51	0.30	0.11	1.79	1.48	(1.66)	3.77	(2.57)	7.47
PHOE	1.19	0.31	0.14	1.00	1.09	(1.46)	2.84	(2.08)	9.91
XTLB	3.79	(0.29)	0.00	8.66	0.00	0.00	9.23	(8.18)	41.17
ISOP-L	2.01	0.34	0.06	(0.91)	2.32	(2.44)	5.05	(5.33)	17.11
BMDX	3.29	0.21	0.03	0.68	4.37	(3.36)	7.60	(7.31)	23.26
SVRT	3.49	(0.45)	0.00	(0.02)	0.00	0.00	6.31	(8.04)	48.17

Be your own money manager

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