Gold Bond Correlations

Stocks . Israel . 
Stock . The Gold Bond
GOLD Stock  ILS 19,090  120.00  0.63%   
The current 90-days correlation between Gold Bond and Big Shopping Centers is 0.2 (i.e., Modest diversification). The correlation of Gold Bond 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.

Gold Bond Correlation With Market

Significant diversification

The correlation between The Gold Bond and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gold Bond and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Gold Bond could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gold Bond 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 Gold Bond - 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 The Gold Bond to buy it.

Moving together with Gold Stock

  0.88LUMI Bank Leumi LePairCorr
  0.82MZTF Mizrahi TefahotPairCorr
  0.9DLEKG Delek GroupPairCorr
  0.86AZRG Azrieli GroupPairCorr
  0.97BIG Big Shopping CentersPairCorr
  0.89DSCT Israel Discount BankPairCorr
  0.86MLSR MelisronPairCorr
  0.73BBYL Abra Information TecPairCorr
  0.8AVIV Mordechai Aviv TaasiotPairCorr
  0.82KMDA KamadaPairCorr
  0.61AVLN Aviv ArlonPairCorr
  0.85WILC G Willi FoodPairCorr
  0.86ALRPR Alrov Properties LodgingsPairCorr
  0.68AMAN Amanet Management SystemsPairCorr
  0.78SPEN Shapir EngineeringPairCorr
  0.92PLRM PalramPairCorr
  0.89STCM Satcom SystemsPairCorr
  0.87BCOM B CommunicationsPairCorr
  0.96HAMAT Hamat GroupPairCorr
  0.93MTDS Meitav Dash InvestmentsPairCorr
  0.92FIBI First International BankPairCorr
  0.91SHVA Automatic Bank ServicesPairCorr
  0.83ELTR ElectraPairCorr
  0.84SKBN Shikun BinuiPairCorr
  0.82ARAN Aran ResearchPairCorr
  0.74ASHG Ashtrom GroupPairCorr
  0.85ALMA Almogim HoldingsPairCorr
  0.89ACRO Kvutzat AcroPairCorr
  0.71ILX Ilex MedicalPairCorr
  0.95ATRY Atreyu Capital MarketsPairCorr
  0.63ANGL Salomon A AngelPairCorr
  0.96HARL Harel Insurance InvePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Gold Stock performing well and Gold Bond 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 Gold Bond'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.

Be your own money manager

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