IT Tech Correlations

ITP Stock

USD 0.22 0 2.05%

The current 90-days correlation between IT Tech Packaging and N2OFF Inc is 0.13 (i.e., Average diversification). The correlation of IT 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. If the correlation is 0, the equities are not correlated; they are entirely random.

IT Tech Correlation With Market

Good diversification

The correlation between IT Tech Packaging and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IT Tech Packaging and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ITP Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in IT Tech Packaging. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving against ITP Stock

0.64	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.42	ATCOL	Atlas Corp	Pair Corr
0.41	600076	Kangxin New Materials	Pair Corr
0.37	SUZ	Suzano Papel e	Pair Corr
0.36	PPERY	Bank Mandiri Persero Earnings Call This Week	Pair Corr
0.35	MAGN	Magnera Corp placeholder Earnings Call This Week	Pair Corr
0.52	TLK	Telkom Indonesia Tbk	Pair Corr
0.44	GMGMF	Graphene Manufacturing	Pair Corr
0.4	CPPKF	Copperbank Resources Corp	Pair Corr
0.4	ADM	Archer Daniels Midland	Pair Corr
0.38	IFSPF	Interfor	Pair Corr
0.37	SION	Sionna Therapeutics	Pair Corr
0.68	FECCF	Frontera Energy Corp Trending	Pair Corr
0.5	WTG	Wintergreen Acquisition	Pair Corr
0.45	GOLD	Gold Inc Earnings Call This Week	Pair Corr
0.44	GLDG	GoldMining	Pair Corr

Related Correlations Analysis

	NITO	ORGN	RKDA	CAPS	CNEY	GURE	RETO	ENFY	NAMM	JCTC
NITO		0.94	0.93	0.87	0.75	0.33	0.86	0.89	-0.23	0.66	NITO
ORGN	0.94		0.83	0.92	0.89	0.34	0.9	0.84	-0.09	0.78	ORGN
RKDA	0.93	0.83		0.74	0.63	0.3	0.75	0.89	-0.26	0.51	RKDA
CAPS	0.87	0.92	0.74		0.84	0.33	0.83	0.74	-0.1	0.73	CAPS
CNEY	0.75	0.89	0.63	0.84		0.18	0.76	0.66	0.1	0.77	CNEY
GURE	0.33	0.34	0.3	0.33	0.18		0.38	0.27	0.11	0.27	GURE
RETO	0.86	0.9	0.75	0.83	0.76	0.38		0.84	-0.15	0.83	RETO
ENFY	0.89	0.84	0.89	0.74	0.66	0.27	0.84		-0.34	0.67	ENFY
NAMM	-0.23	-0.09	-0.26	-0.1	0.1	0.11	-0.15	-0.34		-0.12	NAMM
JCTC	0.66	0.78	0.51	0.73	0.77	0.27	0.83	0.67	-0.12		JCTC
	NITO	ORGN	RKDA	CAPS	CNEY	GURE	RETO	ENFY	NAMM	JCTC

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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

ORGN	+ 0.94	NITO
RKDA	+ 0.93	NITO
CAPS	+ 0.92	ORGN
RETO	+ 0.9	ORGN
ENFY	+ 0.89	NITO
CNEY	+ 0.89	ORGN

High negative correlations

NAMM	- 0.34	ENFY
NAMM	- 0.26	RKDA
NAMM	- 0.23	NITO
NAMM	- 0.15	RETO
JCTC	- 0.12	NAMM
NAMM	- 0.1	CAPS

Risk-Adjusted Indicators

There is a big difference between ITP Stock performing well and IT 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 IT 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
NITO	4.11	(1.59)	0.00	(0.72)	0.00	0.00	7.69	(10.64)	30.79
ORGN	4.53	(2.00)	0.00	(0.82)	0.00	0.00	6.82	(8.70)	22.98
RKDA	3.64	(0.80)	0.00	(0.63)	0.00	0.00	8.59	(11.64)	25.74
CAPS	4.19	(0.71)	0.00	10.79	0.00	0.00	9.86	(8.05)	29.43
CNEY	5.59	(0.68)	0.00	0.65	0.00	0.00	10.00	(10.27)	66.79
GURE	8.88	0.69	0.07	0.40	9.24	(12.48)	20.00	(17.24)	105.51
RETO	6.23	(1.72)	0.00	(0.65)	0.00	0.00	15.13	(17.24)	59.40
ENFY	7.28	(0.77)	0.00	0.33	0.00	0.00	22.22	(20.00)	73.68
NAMM	9.83	2.58	0.42	0.52	5.74	(18.83)	31.29	(11.72)	155.91
JCTC	3.43	(0.74)	0.00	(0.32)	0.00	0.00	7.80	(7.66)	23.52

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