Nice Correlations

NICE Stock

ILA 30,100 600.00 1.95%

The current 90-days correlation between Nice and Tower Semiconductor is -0.01 (i.e., Good diversification). The correlation of Nice 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.

Nice Correlation With Market

Excellent diversification

The correlation between Nice and DJI is -0.51 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nice and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nice Stock

0.61

BOLT

BioLight Life Sciences

Pair Corr

Moving against Nice Stock

0.66	PMNT	Payment Financial	Pair Corr
0.62	DSCT	Israel Discount Bank	Pair Corr
0.58	NTO	Neto ME Holdings	Pair Corr
0.56	ENLT	Enlight Renewable Energy	Pair Corr
0.55	TRPZ	Turpaz Industries	Pair Corr
0.55	DNYA	Danya Cebus	Pair Corr
0.55	ILDR	Israel Land Development	Pair Corr
0.5	IDIN	IDI Insurance	Pair Corr
0.44	AMDA	Almeda Ventures	Pair Corr
0.42	LEVI	Levinstein Eng	Pair Corr
0.39	WILK	Wilk Technologies	Pair Corr
0.38	AQUA	Aquarius Engines	Pair Corr
0.38	PRTC	Priortech	Pair Corr
0.34	ELLO	Ellomay Capital	Pair Corr
0.32	SHVA	Automatic Bank Services	Pair Corr
0.32	CNZN	Canzon Israel	Pair Corr
0.68	DRAL	Dor Alon	Pair Corr
0.63	PZOL	Paz Oil	Pair Corr
0.63	RMLI	Rami Levi	Pair Corr
0.57	HARL	Harel Insurance Inve	Pair Corr
0.57	LUMI	Bank Leumi Le	Pair Corr
0.57	MZTF	Mizrahi Tefahot Earnings Call This Week	Pair Corr
0.51	HGGE	Hagag Europe Development	Pair Corr
0.47	SNFL	Sunflow Sustain	Pair Corr
0.47	IBITEC-F	IBI Mutual Funds	Pair Corr
0.44	BEZQ	Bezeq Israeli Teleco	Pair Corr
0.41	BLRN	Bladeranger	Pair Corr
0.41	MAXO	Max Stock	Pair Corr

Related Correlations Analysis

	TSEM	NVMI	MTRX	ONE	CAMT	LPSN	SNEL	ABRA	TECT
TSEM		0.77	0.0	-0.15	0.7	-0.8	-0.41	0.51	-0.65	TSEM
NVMI	0.77		-0.22	-0.24	0.95	-0.88	-0.21	0.7	-0.42	NVMI
MTRX	0.0	-0.22		0.95	-0.38	0.26	-0.26	0.33	0.27	MTRX
ONE	-0.15	-0.24	0.95		-0.39	0.34	-0.07	0.33	0.42	ONE
CAMT	0.7	0.95	-0.38	-0.39		-0.82	-0.2	0.51	-0.35	CAMT
LPSN	-0.8	-0.88	0.26	0.34	-0.82		0.32	-0.55	0.54	LPSN
SNEL	-0.41	-0.21	-0.26	-0.07	-0.2	0.32		-0.16	0.3	SNEL
ABRA	0.51	0.7	0.33	0.33	0.51	-0.55	-0.16		-0.24	ABRA
TECT	-0.65	-0.42	0.27	0.42	-0.35	0.54	0.3	-0.24		TECT
	TSEM	NVMI	MTRX	ONE	CAMT	LPSN	SNEL	ABRA	TECT

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

CAMT	+ 0.95	NVMI
ONE	+ 0.95	MTRX
NVMI	+ 0.77	TSEM
CAMT	+ 0.7	TSEM
ABRA	+ 0.7	NVMI
TECT	+ 0.54	LPSN

High negative correlations

LPSN	- 0.88	NVMI
LPSN	- 0.82	CAMT
LPSN	- 0.8	TSEM
TECT	- 0.65	TSEM
ABRA	- 0.55	LPSN
TECT	- 0.42	NVMI

Risk-Adjusted Indicators

There is a big difference between Nice Stock performing well and Nice 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 Nice'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
TSEM	3.01	0.67	0.20	(1.45)	2.75	(3.84)	6.84	(5.60)	16.20
NVMI	2.23	0.41	0.13	1.29	2.57	(2.45)	5.38	(4.38)	17.34
MTRX	1.93	(0.30)	0.00	(4.68)	0.00	0.00	3.25	(3.77)	26.80
ONE	2.17	(0.45)	0.00	(4.27)	0.00	0.00	3.51	(5.19)	22.19
CAMT	2.72	0.42	0.12	1.04	2.91	(2.90)	6.37	(5.21)	16.37
LPSN	3.61	(1.00)	0.00	4.52	0.00	0.00	6.37	(7.60)	32.27
SNEL	1.44	(0.15)	0.00	1.50	0.00	0.00	3.11	(2.66)	20.98
ABRA	1.58	(0.22)	0.00	(5.13)	0.00	0.00	2.96	(4.96)	23.18
TECT	2.95	(0.22)	0.00	(0.61)	0.00	0.00	6.12	(5.51)	15.66

Be your own money manager

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