Formula Systems Correlations

FORTY Stock

USD 132.38 0.00 0.00%

The current 90-days correlation between Formula Systems 1985 and Magic Software Enterprises is 0.21 (i.e., Modest diversification). The correlation of Formula Systems 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Formula Systems Correlation With Market

Poor diversification

The correlation between Formula Systems 1985 and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Formula Systems 1985 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Formula Stock

Check out Investing Opportunities to better understand how to build diversified portfolios. 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.

Moving together with Formula Stock

0.62	BAH	Booz Allen Hamilton	Pair Corr
0.82	DTL	Data 3	Pair Corr
0.66	REM	Remsense Technologies	Pair Corr
0.7	20Y	Data3 Limited	Pair Corr
0.79	FIBK	First Interstate Ban	Pair Corr
0.85	ENS	Enersys Earnings Call This Week	Pair Corr
0.77	RCKY	Rocky Brands	Pair Corr
0.67	YLLXF	Yellow Cake plc	Pair Corr
0.78	RILYL	B Riley Financial	Pair Corr
0.79	BNKHF	BOC Hong Kong	Pair Corr
0.78	SECVY	Seche Environnement	Pair Corr
0.76	TFLM	TFLM	Pair Corr
0.72	APETF	Alpha Esports Tech	Pair Corr
0.84	OBYCF	Obayashi Earnings Call This Week	Pair Corr

Moving against Formula Stock

0.79	ETHZ	ETHZilla Symbol Change	Pair Corr
0.76	CMRC	Commerce Earnings Call This Week	Pair Corr
0.7	CN6	BII Railway Transpor	Pair Corr
0.61	CCR	Credit Clear	Pair Corr
0.58	MKDW	MKDWELL Tech Ordinary	Pair Corr
0.4	CVB	Computer And Technologies	Pair Corr
0.33	DM	Datametrex AI	Pair Corr
0.69	BROGF	BROGF	Pair Corr

Related Correlations Analysis

	CSCO	ACN	SAP	MU	INFY	WIT	III	MGIC	EPAM
CSCO		0.13	-0.56	0.3	0.34	0.23	0.13	0.4	0.37	CSCO
ACN	0.13		-0.12	0.47	0.78	0.56	0.74	0.84	0.9	ACN
SAP	-0.56	-0.12		-0.73	-0.21	0.2	0.17	-0.31	-0.33	SAP
MU	0.3	0.47	-0.73		0.31	-0.08	0.2	0.57	0.56	MU
INFY	0.34	0.78	-0.21	0.31		0.7	0.55	0.74	0.82	INFY
WIT	0.23	0.56	0.2	-0.08	0.7		0.64	0.58	0.58	WIT
III	0.13	0.74	0.17	0.2	0.55	0.64		0.64	0.61	III
MGIC	0.4	0.84	-0.31	0.57	0.74	0.58	0.64		0.92	MGIC
EPAM	0.37	0.9	-0.33	0.56	0.82	0.58	0.61	0.92		EPAM
	CSCO	ACN	SAP	MU	INFY	WIT	III	MGIC	EPAM

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

EPAM	+ 0.92	MGIC
EPAM	+ 0.9	ACN
MGIC	+ 0.84	ACN
EPAM	+ 0.82	INFY
INFY	+ 0.78	ACN
III	+ 0.74	ACN

High negative correlations

MU	- 0.73	SAP
SAP	- 0.56	CSCO
EPAM	- 0.33	SAP
MGIC	- 0.31	SAP
INFY	- 0.21	SAP
SAP	- 0.12	ACN

Risk-Adjusted Indicators

There is a big difference between Formula Stock performing well and Formula Systems 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 Formula Systems' 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
CSCO	1.09	0.16	0.09	0.60	1.14	(1.23)	3.06	(2.35)	8.38
ACN	1.52	(0.09)	0.00	(0.02)	0.00	0.00	4.24	(3.27)	14.18
SAP	1.39	(0.42)	0.00	(0.45)	0.00	0.00	2.29	(2.86)	19.03
MU	3.59	1.05	0.26	(1.94)	3.12	(4.30)	8.93	(5.56)	19.80
INFY	1.73	(0.01)	(0.01)	0.04	1.96	(2.07)	4.32	(3.08)	16.01
WIT	1.49	(0.06)	(0.03)	(0.01)	1.95	(1.97)	3.98	(2.30)	14.08
III	1.87	(0.07)	0.00	(0.01)	0.00	0.00	4.07	(4.95)	19.29
MGIC	2.30	0.13	0.03	0.22	4.11	(2.41)	4.98	(4.38)	16.15
EPAM	1.73	0.19	0.06	0.24	2.75	(1.74)	4.35	(2.97)	18.57

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

Cisco Systems Accenture plc SAP SE ADR Micron Technology Infosys Ltd ADR Wipro Limited ADR Information Services Group Magic Software Enterprises EPAM Systems American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

Formula Systems Corporate Management

Maya SolomonElla	Chief Officer	Profile
Guy CPA	Chief Officer	Profile
Tammy Koll	Chief Officer	Profile
Asaf CPA	Chief Officer	Profile
Asaf Berenstin	Chief Officer	Profile

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