Magic Software Correlations

MGIC Stock

USD 5,596 199.00 3.43%

The current 90-days correlation between Magic Software Enter and Taskus Inc is -0.02 (i.e., Good diversification). The correlation of Magic Software 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.

Magic Software Correlation With Market

Average diversification

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

Build AI portfolio with Magic Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Magic Software Enterprises. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Magic Stock

0.79

DSG

Dillistone Group PLC

Pair Corr

Moving against Magic Stock

0.67	VS	Versus Systems	Pair Corr
0.64	BL	Blackline	Pair Corr
0.59	WK	Workiva	Pair Corr
0.56	U	Unity Software Aggressive Push	Pair Corr
0.54	PD	Pagerduty	Pair Corr
0.52	ZD	Ziff Davis	Pair Corr
0.5	DV	DoubleVerify Holdings Earnings Call This Week	Pair Corr
0.48	35U	PAR TECHNOLOGY DL Earnings Call Today	Pair Corr
0.47	DT	Dynatrace Holdings LLC	Pair Corr
0.38	MQ	Marqeta Earnings Call This Week	Pair Corr
0.34	9NY	BYTES TECHGRP LS	Pair Corr
0.57	VERX	Vertex Buyout Trend	Pair Corr
0.57	6NCA	NCINO INC DL	Pair Corr
0.53	2TY	PagerDuty	Pair Corr
0.5	DOCU	DocuSign	Pair Corr
0.47	VERI	Veritone	Pair Corr
0.46	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.44	DMRC	Digimarc Earnings Call This Week	Pair Corr
0.43	RM	RM Plc	Pair Corr
0.4	VEEA	Veea Inc	Pair Corr
0.35	1Q5	Dropbox	Pair Corr
0.65	3L7A	Qualys Inc	Pair Corr
0.55	61I	RESEARCH SOLUTIONS	Pair Corr
0.55	762	PKSHA TECHNOLOGY INC	Pair Corr
0.52	VRAR	Glimpse Group Symbol Change	Pair Corr
0.5	LY0	Lyft Inc	Pair Corr
0.49	DSGX	Descartes Systems	Pair Corr

Related Correlations Analysis

	TASK	NTGR	SCSC	CTLP	COHU	GCT	BKSY	YEXT	CTS	GDYN
TASK		0.82	0.63	0.5	-0.66	0.54	-0.11	0.82	-0.78	0.92	TASK
NTGR	0.82		0.4	0.23	-0.84	0.13	-0.49	0.87	-0.88	0.76	NTGR
SCSC	0.63	0.4		0.63	-0.4	0.61	0.1	0.51	-0.47	0.65	SCSC
CTLP	0.5	0.23	0.63		-0.26	0.64	0.38	0.48	-0.47	0.61	CTLP
COHU	-0.66	-0.84	-0.4	-0.26		-0.05	0.59	-0.83	0.92	-0.7	COHU
GCT	0.54	0.13	0.61	0.64	-0.05		0.56	0.3	-0.18	0.61	GCT
BKSY	-0.11	-0.49	0.1	0.38	0.59	0.56		-0.26	0.42	0.0	BKSY
YEXT	0.82	0.87	0.51	0.48	-0.83	0.3	-0.26		-0.92	0.88	YEXT
CTS	-0.78	-0.88	-0.47	-0.47	0.92	-0.18	0.42	-0.92		-0.81	CTS
GDYN	0.92	0.76	0.65	0.61	-0.7	0.61	0.0	0.88	-0.81		GDYN
	TASK	NTGR	SCSC	CTLP	COHU	GCT	BKSY	YEXT	CTS	GDYN

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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

GDYN	+ 0.92	TASK
CTS	+ 0.92	COHU
GDYN	+ 0.88	YEXT
YEXT	+ 0.87	NTGR
NTGR	+ 0.82	TASK
YEXT	+ 0.82	TASK

High negative correlations

CTS	- 0.92	YEXT
CTS	- 0.88	NTGR
COHU	- 0.84	NTGR
YEXT	- 0.83	COHU
GDYN	- 0.81	CTS
CTS	- 0.78	TASK

Risk-Adjusted Indicators

There is a big difference between Magic Stock performing well and Magic Software 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 Magic Software'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
TASK	1.63	(0.19)	0.00	(0.02)	0.00	0.00	2.87	(3.45)	8.21
NTGR	1.55	(0.27)	0.00	2.76	0.00	0.00	2.59	(3.45)	10.74
SCSC	1.77	(0.24)	0.00	(0.01)	0.00	0.00	3.06	(3.87)	22.72
CTLP	0.50	(0.06)	0.00	(0.30)	0.00	0.00	1.21	(1.22)	3.67
COHU	2.10	0.39	0.17	0.31	2.31	(2.26)	5.01	(3.98)	14.32
GCT	2.43	0.06	0.03	0.14	3.10	(2.71)	5.71	(6.01)	19.26
BKSY	4.91	0.47	0.10	0.32	5.80	(5.31)	10.49	(10.23)	24.47
YEXT	1.84	(0.56)	0.00	(2.00)	0.00	0.00	2.40	(4.20)	27.12
CTS	1.48	0.39	0.16	(3.71)	1.44	(1.58)	3.37	(2.62)	7.98
GDYN	2.39	(0.50)	0.00	(0.14)	0.00	0.00	5.80	(5.02)	22.21

Magic Software Corporate Management

Yael Ilan	Chief Solutions	Profile
Ronen Engler	Vice Sales	Profile
Idan Faingold	Chief Ltd	Profile
Asaf CPA	Chief Officer	Profile

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