Galileo Tech Correlations

GLTC Stock

15.20 1.20 8.57%

The current 90-days correlation between Galileo Tech and Intelicanna is 0.04 (i.e., Significant diversification). The correlation of Galileo Tech 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.

Galileo Tech Correlation With Market

Very good diversification

The correlation between Galileo Tech and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Galileo Tech and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Galileo Stock

0.87	LUMI	Bank Leumi Le Earnings Call Today	Pair Corr
0.87	PHOE	Phoenix Holdings Earnings Call Today	Pair Corr
0.86	SEMG	Seach Medical Group	Pair Corr
0.83	VRDS	Veridis Environment	Pair Corr
0.83	MMHD	Menora Miv Hld Earnings Call Tomorrow	Pair Corr
0.81	MZTF	Mizrahi Tefahot	Pair Corr
0.8	MGDL	Migdal Insurance	Pair Corr
0.8	FIBIH	FIBI Holdings Earnings Call Tomorrow	Pair Corr
0.79	DSCT	Israel Discount Bank	Pair Corr
0.75	CLIS	Clal Insurance Enter Earnings Call Tomorrow	Pair Corr
0.75	HARL	Harel Insurance Inve	Pair Corr
0.72	FIBI	First International Bank	Pair Corr
0.64	MTLF	Matricelf	Pair Corr
0.6	STCM	Satcom Systems	Pair Corr
0.54	INFR	Infimer	Pair Corr

Related Correlations Analysis

	INTL	ARDM	OPAL	BCOM	HLMS	NVMI	PTCH	ISOP-L	NISA	PHTM
INTL		0.0	0.1	0.3	0.07	-0.27	-0.02	-0.11	0.28	0.07	INTL
ARDM	0.0		0.52	0.68	0.5	-0.4	0.56	0.14	0.66	0.63	ARDM
OPAL	0.1	0.52		0.72	0.93	-0.55	0.89	0.78	0.25	0.84	OPAL
BCOM	0.3	0.68	0.72		0.78	-0.61	0.65	0.29	0.72	0.66	BCOM
HLMS	0.07	0.5	0.93	0.78		-0.5	0.89	0.71	0.31	0.83	HLMS
NVMI	-0.27	-0.4	-0.55	-0.61	-0.5		-0.41	-0.34	-0.26	-0.46	NVMI
PTCH	-0.02	0.56	0.89	0.65	0.89	-0.41		0.75	0.18	0.82	PTCH
ISOP-L	-0.11	0.14	0.78	0.29	0.71	-0.34	0.75		-0.27	0.62	ISOP-L
NISA	0.28	0.66	0.25	0.72	0.31	-0.26	0.18	-0.27		0.22	NISA
PHTM	0.07	0.63	0.84	0.66	0.83	-0.46	0.82	0.62	0.22		PHTM
	INTL	ARDM	OPAL	BCOM	HLMS	NVMI	PTCH	ISOP-L	NISA	PHTM

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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

HLMS	+ 0.93	OPAL
PTCH	+ 0.89	OPAL
PTCH	+ 0.89	HLMS
PHTM	+ 0.84	OPAL
PHTM	+ 0.83	HLMS
PHTM	+ 0.82	PTCH

High negative correlations

NVMI	- 0.61	BCOM
NVMI	- 0.55	OPAL
NVMI	- 0.5	HLMS
PHTM	- 0.46	NVMI
PTCH	- 0.41	NVMI
NVMI	- 0.4	ARDM

Risk-Adjusted Indicators

There is a big difference between Galileo Stock performing well and Galileo Tech 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 Galileo Tech'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
INTL	4.16	0.47	0.07	(51.87)	4.07	(5.96)	15.03	(6.67)	33.21
ARDM	6.23	0.80	0.10	(1.64)	5.52	(9.23)	14.08	(8.25)	106.35
OPAL	1.40	0.37	0.17	1.10	1.22	(1.68)	3.46	(2.95)	7.56
BCOM	1.83	0.48	0.16	(2.66)	1.56	(2.10)	4.90	(3.10)	16.14
HLMS	1.49	0.28	0.11	1.07	1.39	(1.70)	3.93	(2.37)	9.83
NVMI	2.73	(0.19)	0.00	1.04	0.00	0.00	6.35	(6.67)	21.92
PTCH	2.04	0.33	0.06	(1.99)	2.76	(2.29)	5.20	(3.40)	17.02
ISOP-L	2.00	0.30	0.04	(0.46)	2.39	(2.45)	5.05	(5.33)	17.11
NISA	1.94	0.10	0.00	0.69	2.96	(1.95)	4.01	(4.44)	15.40
PHTM	1.09	0.29	0.11	(35.19)	1.08	(1.21)	2.41	(2.12)	7.08

Be your own money manager

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