Flying Spark Correlations

FLYS Stock

ILA 36.70 1.90 4.92%

The current 90-days correlation between Flying Spark and Identi Healthcare is -0.13 (i.e., Good diversification). The correlation of Flying Spark 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.

Flying Spark Correlation With Market

Average diversification

The correlation between Flying Spark and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Flying Spark and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Flying Stock

0.67

BYSD

Bayside Land

Pair Corr

Moving against Flying Stock

0.58	IBI	IBI Inv House	Pair Corr
0.54	FIBI	First International Bank	Pair Corr
0.54	POLI	Bank Hapoalim	Pair Corr
0.53	WESR	Wesure Global Tech	Pair Corr
0.51	MZTF	Mizrahi Tefahot	Pair Corr
0.48	AYAL	Ayalon Holdings	Pair Corr
0.44	MMHD	Menora Miv Hld	Pair Corr
0.41	IES	IES Holdings	Pair Corr
0.4	BLGO	Buligo Capital	Pair Corr
0.39	ELAL	El Al Israel	Pair Corr
0.37	MRIN	YD More Investments	Pair Corr
0.65	VCTR	Victory Supermarket Chain	Pair Corr
0.53	TTAM	Tiv Taam	Pair Corr
0.51	TEVA	Teva Pharmaceutical	Pair Corr
0.49	MGDL	Migdal Insurance	Pair Corr
0.45	GFC-M	GFC Green Fields	Pair Corr
0.45	MEDN	Mehadrin	Pair Corr
0.45	GFC	GFC Green Fields	Pair Corr
0.43	PTNR	Partner	Pair Corr
0.41	ARIN	Ari Real Estate	Pair Corr
0.38	ISCD	Isracard	Pair Corr

Related Correlations Analysis

	IDNT	WILC	IGLD	MGIC	MPRS	EMTC-M	OPK
IDNT		-0.86	0.02	-0.89	-0.12	-0.37	0.72	IDNT
WILC	-0.86		-0.27	0.95	-0.04	0.53	-0.75	WILC
IGLD	0.02	-0.27		-0.16	0.68	-0.27	0.23	IGLD
MGIC	-0.89	0.95	-0.16		0.05	0.51	-0.78	MGIC
MPRS	-0.12	-0.04	0.68	0.05		-0.14	-0.23	MPRS
EMTC-M	-0.37	0.53	-0.27	0.51	-0.14		-0.29	EMTC-M
OPK	0.72	-0.75	0.23	-0.78	-0.23	-0.29		OPK
	IDNT	WILC	IGLD	MGIC	MPRS	EMTC-M	OPK

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

MGIC	+ 0.95	WILC
OPK	+ 0.72	IDNT
MPRS	+ 0.68	IGLD
EMTC-M	+ 0.53	WILC
EMTC-M	+ 0.51	MGIC
OPK	+ 0.23	IGLD

High negative correlations

MGIC	- 0.89	IDNT
WILC	- 0.86	IDNT
OPK	- 0.78	MGIC
OPK	- 0.75	WILC
EMTC-M	- 0.37	IDNT
OPK	- 0.29	EMTC-M

Risk-Adjusted Indicators

There is a big difference between Flying Stock performing well and Flying Spark 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 Flying Spark'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
IDNT	2.22	(0.54)	0.00	(0.82)	0.00	0.00	6.06	(6.07)	17.36
WILC	1.10	0.46	0.32	0.90	0.74	(1.43)	2.71	(1.90)	7.88
IGLD	3.44	(0.65)	0.00	1.44	0.00	0.00	8.84	(8.68)	20.45
MGIC	1.87	0.40	0.15	8.17	1.81	(1.96)	3.38	(2.83)	13.40
MPRS	1.74	0.02	(0.01)	0.02	2.71	(4.79)	6.80	(5.64)	26.37
EMTC-M	1.15	0.01	(0.01)	0.09	2.09	(3.83)	5.95	(4.50)	19.99
OPK	1.60	(0.20)	0.00	(0.64)	0.00	0.00	2.96	(3.61)	8.82

Be your own money manager

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