Kamada Correlations

KMDA Stock

ILA 2,750 143.00 5.49%

The current 90-days correlation between Kamada and Sofwave Medical is 0.06 (i.e., Significant diversification). The correlation of Kamada 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.

Kamada Correlation With Market

Poor diversification

The correlation between Kamada and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kamada and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kamada Stock

0.69	MGDL	Migdal Insurance	Pair Corr
0.64	CLIS	Clal Insurance Enter	Pair Corr
0.92	ASHO	Ashot Ashkelon Industries	Pair Corr
0.84	ELLO	Ellomay Capital	Pair Corr
0.89	ARYT	Aryt Industries	Pair Corr
0.66	ELWS	Electreon Wireless	Pair Corr
0.87	NERZ	New Horizon Group	Pair Corr
0.69	ALMD	Allmed Solutions	Pair Corr
0.63	IDMO	Idomoo	Pair Corr
0.85	HGGE	Hagag Europe Development	Pair Corr
0.71	DSCT	Israel Discount Bank	Pair Corr
0.8	QLTU	Qualitau	Pair Corr
0.67	DNYA	Danya Cebus	Pair Corr
0.81	ORIN	Orian ShM	Pair Corr
0.82	SHVA	Automatic Bank Services	Pair Corr
0.69	BLRN	Bladeranger	Pair Corr
0.91	ELCRE	Electra Real Estate	Pair Corr
0.86	TRPZ	Turpaz Industries	Pair Corr
0.8	LUMI	Bank Leumi Le	Pair Corr
0.93	LEVI	Levinstein Eng	Pair Corr
0.63	IBITEC-F	IBI Mutual Funds	Pair Corr
0.82	AMDA	Almeda Ventures	Pair Corr
0.73	ALHE	Alony Hetz Properties	Pair Corr
0.82	TATT	TAT Technologies	Pair Corr
0.73	BYSD	Bayside Land	Pair Corr
0.71	ILDR	Israel Land Development	Pair Corr
0.77	MZTF	Mizrahi Tefahot	Pair Corr
0.86	MAXO	Max Stock	Pair Corr
0.85	SNFL	Sunflow Sustain	Pair Corr

Related Correlations Analysis

	LCTX	BKFR	BWAY	SOFW	ILX	INCR	SEMG	NVLG	REKA	TKUN
LCTX		0.38	-0.63	-0.48	0.39	0.74	-0.44	0.32	-0.18	0.69	LCTX
BKFR	0.38		-0.1	-0.1	0.68	0.32	-0.26	0.49	-0.33	0.26	BKFR
BWAY	-0.63	-0.1		0.84	-0.27	-0.93	0.7	-0.19	0.17	-0.89	BWAY
SOFW	-0.48	-0.1	0.84		-0.34	-0.8	0.61	-0.36	0.35	-0.76	SOFW
ILX	0.39	0.68	-0.27	-0.34		0.37	-0.46	0.6	-0.44	0.29	ILX
INCR	0.74	0.32	-0.93	-0.8	0.37		-0.6	0.31	-0.16	0.93	INCR
SEMG	-0.44	-0.26	0.7	0.61	-0.46	-0.6		-0.39	0.49	-0.57	SEMG
NVLG	0.32	0.49	-0.19	-0.36	0.6	0.31	-0.39		-0.53	0.28	NVLG
REKA	-0.18	-0.33	0.17	0.35	-0.44	-0.16	0.49	-0.53		-0.09	REKA
TKUN	0.69	0.26	-0.89	-0.76	0.29	0.93	-0.57	0.28	-0.09		TKUN
	LCTX	BKFR	BWAY	SOFW	ILX	INCR	SEMG	NVLG	REKA	TKUN

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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

TKUN	+ 0.93	INCR
SOFW	+ 0.84	BWAY
INCR	+ 0.74	LCTX
SEMG	+ 0.7	BWAY
TKUN	+ 0.69	LCTX
ILX	+ 0.68	BKFR

High negative correlations

INCR	- 0.93	BWAY
TKUN	- 0.89	BWAY
INCR	- 0.8	SOFW
TKUN	- 0.76	SOFW
BWAY	- 0.63	LCTX
SEMG	- 0.6	INCR

Risk-Adjusted Indicators

There is a big difference between Kamada Stock performing well and Kamada 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 Kamada'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
LCTX	3.06	(0.02)	0.00	(0.10)	0.00	0.00	6.62	(7.06)	23.15
BKFR	0.90	(0.08)	0.00	(2.46)	0.00	0.00	2.48	(1.41)	7.63
BWAY	2.37	0.36	0.12	0.45	2.57	(2.41)	5.96	(4.11)	14.59
SOFW	2.21	0.17	0.08	0.17	2.21	(2.39)	4.02	(4.07)	16.52
ILX	1.52	(0.13)	0.00	7.04	0.00	0.00	3.01	(3.82)	11.05
INCR	2.05	(0.72)	0.00	(5.95)	0.00	0.00	3.57	(4.23)	27.36
SEMG	1.78	0.17	0.06	0.69	1.84	(2.08)	5.49	(3.32)	10.95
NVLG	1.29	(0.08)	0.00	(1.13)	0.00	0.00	2.51	(3.48)	10.72
REKA	1.67	0.09	0.02	0.56	2.07	(2.51)	5.38	(2.89)	18.79
TKUN	2.89	(0.49)	0.00	(1.33)	0.00	0.00	6.07	(5.81)	41.70

Be your own money manager

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