Israir Correlations

ISRG Stock

172.00 3.20 1.83%

The current 90-days correlation between Israir Group and Orian ShM is -0.11 (i.e., Good diversification). The correlation of Israir 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.

Israir Correlation With Market

Good diversification

The correlation between Israir Group and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Israir Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Israir Stock

0.75

NICE

Nice

Pair Corr

Moving against Israir Stock

0.8	ABRA	Abra Information Tec	Pair Corr
0.75	QLTU	Qualitau	Pair Corr
0.68	EMTC-M	Elbit Medical Techno	Pair Corr
0.59	TPGM	Top Gum Industries	Pair Corr
0.57	DSCT	Israel Discount Bank	Pair Corr
0.57	PHOE	Phoenix Holdings	Pair Corr
0.54	PRIM	Prime Energy PE	Pair Corr
0.49	LHIS	Lachish	Pair Corr
0.48	LUMI	Bank Leumi Le	Pair Corr
0.41	MZTF	Mizrahi Tefahot	Pair Corr
0.41	ILDR	Israel Land Development	Pair Corr
0.4	ORA	Ormat Technologies	Pair Corr
0.38	NTO	Neto ME Holdings	Pair Corr
0.37	BLGO	Buligo Capital	Pair Corr
0.37	HARL	Harel Insurance Inve	Pair Corr
0.63	YHNF	M Yochananof	Pair Corr
0.59	PLNT	Plantarc Bio	Pair Corr
0.58	MTLF	Matricelf	Pair Corr
0.57	HGGE	Hagag Europe Development	Pair Corr
0.53	GLTL	Gilat Telecom Global	Pair Corr
0.43	BRIH	Rav Bariach 08	Pair Corr
0.42	SOFW	Sofwave Medical	Pair Corr
0.42	BIG	Big Shopping Centers	Pair Corr
0.39	INBR	Inbar Group Finance	Pair Corr
0.38	AFPR	Afi Properties	Pair Corr
0.36	CRMT	Carmit	Pair Corr

Related Correlations Analysis

	ORIN	BRAN	PAYT	KNFM	BRIH	TIGBUR	ETGA	TURB	HAMAT	SHOM
ORIN		0.22	0.06	0.3	0.24	0.48	0.47	0.05	0.54	0.36	ORIN
BRAN	0.22		0.5	0.72	-0.43	0.05	0.32	0.02	0.61	-0.2	BRAN
PAYT	0.06	0.5		0.4	-0.56	0.02	0.24	0.23	0.05	-0.24	PAYT
KNFM	0.3	0.72	0.4		-0.45	0.11	0.39	0.06	0.47	-0.15	KNFM
BRIH	0.24	-0.43	-0.56	-0.45		-0.08	0.15	-0.1	0.11	0.43	BRIH
TIGBUR	0.48	0.05	0.02	0.11	-0.08		-0.1	0.0	0.35	-0.02	TIGBUR
ETGA	0.47	0.32	0.24	0.39	0.15	-0.1		0.04	0.37	0.28	ETGA
TURB	0.05	0.02	0.23	0.06	-0.1	0.0	0.04		-0.2	-0.04	TURB
HAMAT	0.54	0.61	0.05	0.47	0.11	0.35	0.37	-0.2		0.02	HAMAT
SHOM	0.36	-0.2	-0.24	-0.15	0.43	-0.02	0.28	-0.04	0.02		SHOM
	ORIN	BRAN	PAYT	KNFM	BRIH	TIGBUR	ETGA	TURB	HAMAT	SHOM

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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

KNFM	+ 0.72	BRAN
HAMAT	+ 0.61	BRAN
HAMAT	+ 0.54	ORIN
PAYT	+ 0.5	BRAN
TIGBUR	+ 0.48	ORIN
ETGA	+ 0.47	ORIN

High negative correlations

BRIH	- 0.56	PAYT
BRIH	- 0.45	KNFM
BRIH	- 0.43	BRAN
SHOM	- 0.24	PAYT
HAMAT	- 0.2	TURB
SHOM	- 0.2	BRAN

Risk-Adjusted Indicators

There is a big difference between Israir Stock performing well and Israir 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 Israir'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
ORIN	2.55	(0.08)	0.00	(0.02)	0.00	0.00	5.77	(5.37)	16.79
BRAN	1.69	0.84	0.45	4.98	0.78	(2.04)	6.04	(1.78)	14.17
PAYT	1.75	0.32	0.09	1.25	2.32	(1.91)	5.26	(4.62)	12.57
KNFM	1.27	0.18	0.02	(0.17)	1.87	(1.32)	2.23	(3.69)	10.08
BRIH	1.42	0.29	0.13	(1.32)	1.12	(1.99)	3.81	(1.98)	15.15
TIGBUR	1.47	0.15	0.02	(0.60)	2.04	(1.52)	2.46	(3.35)	9.97
ETGA	1.33	0.47	0.20	(5.57)	1.14	(2.24)	4.20	(1.96)	10.14
TURB	1.84	0.01	(0.03)	0.03	2.25	(2.25)	4.64	(4.31)	12.75
HAMAT	1.80	0.57	0.39	1.08	0.83	(2.54)	7.15	(2.31)	14.73
SHOM	1.23	0.12	0.03	(1.47)	1.10	(1.68)	3.96	(1.96)	7.65

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

Orian ShM Baran Group Payton L Knafaim Rav Bariach 08 Tigbur Temporary Etga Group Turbogen Chp Hamat Group EN Shoham Business American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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