Meshek Energy Correlations

MSKE Stock

ILA 212.40 11.90 5.94%

The current 90-days correlation between Meshek Energy Renewable and HERBALIFE is -0.01 (i.e., Good diversification). The correlation of Meshek Energy 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.

Meshek Energy Correlation With Market

Good diversification

The correlation between Meshek Energy Renewable Energi and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meshek Energy Renewable Energi and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Meshek Stock

0.75	DORL	Doral Group Renewable	Pair Corr
0.73	SAE	Shufersal	Pair Corr
0.64	PRIM	Prime Energy PE	Pair Corr
0.6	PHOE	Phoenix Holdings Earnings Call Today	Pair Corr
0.6	PZOL	Paz Oil	Pair Corr
0.5	MMHD	Menora Miv Hld Earnings Call Tomorrow	Pair Corr
0.46	LUMI	Bank Leumi Le Earnings Call Today	Pair Corr
0.44	TIGBUR	Tigbur Temporary	Pair Corr
0.41	MGDL	Migdal Insurance	Pair Corr
0.35	DSCT	Israel Discount Bank	Pair Corr
0.35	RATI	Ratio Oil Explorations Earnings Call Today	Pair Corr

Related Correlations Analysis

	ENLT	ENRG	HOO	BRIN	MVNE	PHTM	ILDR	GLBX	BEZQ	CMCT
ENLT		0.39	-0.26	0.01	0.22	0.03	0.06	0.11	0.09	-0.11	ENLT
ENRG	0.39		-0.61	-0.29	-0.48	-0.34	-0.5	-0.22	-0.61	0.37	ENRG
HOO	-0.26	-0.61		0.37	0.68	0.47	0.67	-0.3	0.75	-0.47	HOO
BRIN	0.01	-0.29	0.37		0.68	0.94	0.24	-0.32	0.74	-0.92	BRIN
MVNE	0.22	-0.48	0.68	0.68		0.76	0.7	-0.19	0.94	-0.8	MVNE
PHTM	0.03	-0.34	0.47	0.94	0.76		0.37	-0.32	0.82	-0.94	PHTM
ILDR	0.06	-0.5	0.67	0.24	0.7	0.37		-0.03	0.68	-0.42	ILDR
GLBX	0.11	-0.22	-0.3	-0.32	-0.19	-0.32	-0.03		-0.18	0.23	GLBX
BEZQ	0.09	-0.61	0.75	0.74	0.94	0.82	0.68	-0.18		-0.85	BEZQ
CMCT	-0.11	0.37	-0.47	-0.92	-0.8	-0.94	-0.42	0.23	-0.85		CMCT
	ENLT	ENRG	HOO	BRIN	MVNE	PHTM	ILDR	GLBX	BEZQ	CMCT

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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

PHTM	+ 0.94	BRIN
BEZQ	+ 0.94	MVNE
BEZQ	+ 0.82	PHTM
PHTM	+ 0.76	MVNE
BEZQ	+ 0.75	HOO
BEZQ	+ 0.74	BRIN

High negative correlations

CMCT	- 0.94	PHTM
CMCT	- 0.92	BRIN
CMCT	- 0.85	BEZQ
CMCT	- 0.8	MVNE
BEZQ	- 0.61	ENRG
HOO	- 0.61	ENRG

Risk-Adjusted Indicators

There is a big difference between Meshek Stock performing well and Meshek Energy 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 Meshek Energy'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
ENLT	1.61	0.04	(0.04)	(0.21)	2.05	(1.69)	4.10	(3.32)	10.58
ENRG	1.72	(0.08)	0.00	1.31	0.00	0.00	4.31	(3.30)	12.53
HOO	2.31	0.07	0.01	0.26	3.19	(2.33)	4.84	(5.33)	13.62
BRIN	2.92	0.64	0.16	1.05	3.05	(3.25)	6.92	(5.26)	23.11
MVNE	1.64	0.20	0.04	1.97	2.04	(1.72)	3.23	(3.25)	8.25
PHTM	1.09	0.29	0.11	(35.19)	1.08	(1.21)	2.41	(2.12)	7.08
ILDR	1.69	0.09	(0.03)	(0.21)	2.15	(2.06)	4.82	(4.49)	11.17
GLBX	1.97	0.14	0.00	(0.67)	2.69	(2.53)	3.65	(3.49)	24.81
BEZQ	1.29	0.31	0.11	(1.98)	1.27	(1.47)	3.25	(2.35)	8.84
CMCT	5.21	(2.64)	0.00	6.37	0.00	0.00	3.50	(15.01)	64.54

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